(*Photo: ЩΛŘĐ, Flickr.com)
As announced recently, the ministry of corporate affairs released a circular establishing the use of email for service of compliance documents. This includes the companies covered under the Companies Act. In addition, the Information Technology Act also recommends the use of electronic mode for documentation.
So, what does this mean?
It means that legal and audit documents sent through email are henceforth valid, provided the company has proof that it obtained the email addresses in advance.
But in a larger sense, it means a lot more:
- Email becomes powerful, and preferred: Email, which has been something of a recluse in India, now comes out in the open as a strong and preferred medium of communication. While it is true that most of the communication in the corporate sector was happening through email, this was not true for critical legal documents, which had to be invariably printed and mailed (think of the cost involved!). With the new development, however, India can look forward to going truly digital.
- It saves paper: According to the website of Indian Paper Manufacturers Association, an estimated of 70,000 metric tons of paper is produced every quarter! Another source says that the Indian paper industry is going to see an ever-widening gulf between demand and supply, not to mention rising input costs. In a way it’s a good news. India already has a threatened forest cover, and the rising use of paper has got everyone apprehensive. Email becomes more important in this regard, as it is a quick, safe, and very economical medium of communication.
Initiative by Team Octane
We at Octane have always been strong supporters of email as a practical way to a better environment. To extend further support, we have launched a special “Go Green” initiative for the Indian companies which shall comply with Section 53 of the Companies Act. Using a promo code, businesses can enjoy a limited trial of our email marketing software for no charges. Our system will show to businesses how permission-based email marketing provides them better inbox deliverability and business returns.
Join us in this initiative today. After all, email is the communication of the future!
— Team Octane