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A STRONG ENABLER. Global Quality Benchmarks Global Quality Benchmarks Free Competition Free Competition Speed of Service Speed of Service Increased Transparency.

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Presentation on theme: "A STRONG ENABLER. Global Quality Benchmarks Global Quality Benchmarks Free Competition Free Competition Speed of Service Speed of Service Increased Transparency."— Presentation transcript:

1 A STRONG ENABLER

2 Global Quality Benchmarks Global Quality Benchmarks Free Competition Free Competition Speed of Service Speed of Service Increased Transparency Increased Transparency Cost efficiency Cost efficiency Knowledge & Resource sharing Knowledge & Resource sharing Sustainable solution. Sustainable solution.

3 IMPACT OF TECHNOLOGY ON CORPORATE GOVERNANCE & COMPLIANCE MCA 21 MCA 21 Digital Signature Certificate Digital Signature Certificate Video Conferencing Video Conferencing E–Voting E–Voting XBRL XBRL

4 MCA 21 Need for MCA 21: Services to nearly 7.5 lakh corporate entities. Elimination of Paper work Maintaining Global standards. Re-positioning India in Global digital map Fully automated for proactive enforcement and compliance of the statutory legal requirements Major Components Front Office Back Office

5 Digital Signature Certificates For authentication of any electronic record by a subscriber by means of an electronic method. It issued by a Certifying Authority. Uses: Authenticity Confidentiality Integrity Non-Repudiation Digital Signature comprises of: Public keyPrivate key

6 E-voting in Annual General Meeting: Election system that allows to vote through internet. E-Voting has been made mandatory for the top 500 listed on the Stock exchanges. Presently this service is provided free of cost. Uses: Provides a check for Red Tapism. Encourages active participation of shareholders

7 Video Conferencing It is conducting an audio & video conference between two or more persons situated at different places. It is a part of Green initiative taken by the MCA for Corporate Governance. Approval is given to Companies to hold Board and Annual General Meetings through Video conferencing. Uses : Cost & Time efficient Speedy Decision Making Transparency Provides larger participation

8 Participants: Software vendors Companies Trading partners Auditors Management Accountants Investors Central Banks Financial publishers Regulators  Language for the electronic communication of business and financial data.  It provides major benefits in the preparation, analysis and communication of business information.  It is being developed by a non-profit consortium. eXtensible Business Reporting Language

9 ALL THE VERY BEST THANK YOU


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