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Filing of mandatory documents like balance sheet and annual returns by corporates, as stipulated under Companies Act 1956, will in future be fully in the electronic format.

Making a presentation on the on-going "MCA-21" e-governance programme of the Ministry of Company Affairs, Government of India, here on Tuesday at an interactive session organised by the Bengal National Chamber of Commerce and Industry (BNCCI), U.C. Nahta, Regional Director, East, MCA, Government of India, said it would be implemented in phases to help corporates cope up with the changing scenario.

There would be Certified Filing Centres throughout the country. Initially MCA-21 will be extended to some 12 offices of the Registrar of Companies (ROC), effectively by June 30, 2006, it is learnt.

Under this, documents will have to be compulsorily filed in the electronic format.

The peak filing period, according to Nahta, would be the months of October, November and December for all companies, after the AGM season is over.

Pointing out that certifying authorities have been appointed for verification of digital signatures and Director Identification Numbers, which would become mandatory soon, he said professionals like chartered accountants are also being licensed to certify the documents which have to be filed in e-format.

TCS has been appointed as one of the certifying authorities.

According to Santanu Banerjee, Regional Coordinator, MCA-21, CMC Ltd, digital signatures world over ensure the validity of documents in a court of law. Making a presentation on the MCA-21 project, Banerjee said the central Data Receiving Centre was being located by the MCA at Chennai, Tamil Nadu.

Earlier, in her welcome address, Nayantara Palchoudhuri, president of BNCCI, said the Companies (Central Government) General Rules and Forms 1956 have been amended to enable electronic filing of documents.

She said the procedure of online filing would require certain formalities like obtaining Company Identification Number (CIN), Director Identification Number (DIN) by all directors, Digital Signature Certificate for at least one director and registration with MCA for online filing and the necessary computer configurations for such filing. Describing the MCA initiative as a bold one, she said MCA-21, when fully implemented, would be highly beneficial to both companies as well as the regulatory authorities.

Quelle/Source: Sify, 01.06.2006

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