New Delhi, April 19 (KNN) A committee set up by the Ministry of Corporate Affairs has suggested to do away with physical delivery of documents and replace it with compulsory electronic delivery.

If the recommendation is implemented, reports by auditors or the board of directors to shareholders and the registrar of companies will be received via email or any other electronic means such as putting up the information on the company’s website.

Shareholders will no longer receive physical delivery of documents if the proposal is accepted.

The expert panel was headed by corporate affairs secretary Rajesh Verma and it has also pitched that physical copies should be made available but a fee must be decided by the company that will need to be paid by those seeking hard copies.

Likewise, when it comes to holding AGMs and EGMs, the committee has recommended providing statutory backing to them through virtual or hybrid mode.

The committee has suggested that an EGM meeting should to be conducted entirely in electronic mode and the notice period for such meetings could be reduced as prescribed by the government. (KNN Bureau)