Sunday, 22 May 2011

New Delhi Govt allows video board meetings

The government on Friday notified norms allowing companies to hold general meetings via videoconferencing in a “green” initiative aimed at ensuring wider participation in shareholder meetings and speedier decision-making. The ministry of corporate affairs in a notification said that shareholders can
attend board meetings through the electronic mode and video conferencing. “They will be required to be physically present for only one meeting in a year,” a senior official at the ministry of corporate affairs told Hindustan Times . The chairman of the meeting and secretary should, however, ensure that integrity is safeguarded in cases of video conferencing.
The ministry has been receiving representations from various industry bodies to recognise participation by shareholders in meetings under the Companies Act 1956.  more..

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