In order to cut timelines and an another step towards “Green Initiative” it has been decided that all certificates and standard letters issued by the Registrar of Companies will now be issued electronically under the Digital Signature of the Registrar of Companies. The Digital Certificates are being developed and will be available for issue by 30th June, 2011 in phased manner.
The Ministry of Corporate Affairs has clarified that that a shareholder of the company may participate in a general meeting under the provisions of Companies Act, 1956 through electronic mode. The Clarification is a sequel to the representations being received by the Ministry from various Industry bodies to recognize participation by shareholders in meetings under the Companies Act, 1956 through electronic mode after it took a Green initiative in the Corporate Governance by allowing paperless compliances by the Companies after considering sections 2, 4, 5, 13 and 81 of the Information Technology Act, 2000 for legal validity of compliances under Companies Act, 1956 through electronic mode.
The government today allowed companies to hold annual general meetings through video conferencing, with a view to provide larger participation and for curbing costs, borne by the shareholders to attend AGMs. Accordingly, a company would have to send a notice informing shareholders about “the availability of participation through video conference, and provide necessary information to enable shareholders to access the available facility of videoconferencing”, the Corporate Affairs Ministry said in a notification.
The Securities and Exchange Board of India (Sebi) has halted the listing of Vaswani Industries and launched investigations into the issue. Around 3,000 retail applicants withdrew their applications and several others were disqualified due to stop-payment of cheques. Sources say Sebi’s concerns emerge from fears that a majority of the applicants could be dummy investors, acting on behalf of a few big operators.
The plea of womanhood raised by noted criminal lawyer Ram Jethmalani could not cut ice with a Delhi Court which today rejected the bail plea of DMK MP Kanimozhi saying that gender cannot be considered as a ground for relief in the 2G spectrum case.Sex is one of the grounds which may be considered at the time of grant of bail. However, considering the magnitude of the crime and the allegations against her, I am unable to show any consideration to her on this ground, special CBI Judge O P Saini said.
10 driving training schools with an estimated cost of Rs. 140 crores are proposed to be set up during the 11th Five year plan under a new comprehensive scheme of the Ministry of Road Transport & Highways. So far, sanction has been accorded by the Ministry for setting up of 6 such institutes in states namely Himachal Pradesh, Madhya Pradesh, Rajasthan, Maharashtra, Gujarat and Haryana. One more Institute of driving training and research for Tamil Nadu has also been approved. The Ministry is also in process of sanctioning 3 more institutes in the current financial year.
On 6th October, 2010, all the above-mentioned 13 members of the Karnataka Legislative Assembly, belonging to the Bharatiya Janata Party, hereinafter referred to as the “MLAs”, wrote identical letters to the Governor of the State indicating that they had been elected as MLAs on Bharatiya Janata Party tickets, but had become disillusioned with the functioning […]
