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The first schedule of the Information Technology Act, 2000 (“Act”) containing the list of documents or transaction to which the Act does not apply to, has been amended, per the notification by the Ministry of Electronics and Information Technology, notification F. No. 1(3)/2022-CL dated 26th September 2022 (“Notification”).
As per the Notification:
● The line item related to immovable property has been deleted altogether from the exclusion list. So, now, any contract for the sale or conveyance of immovable property or any interest in such property can use digital or electronic signatures as the exclusion from the Act will no longer apply to them.
● Changes have been made to exclude
○ cheque, demand promissory note, bill of exchange in favour of or endorsed by RBI, SEBI, IRDAI, National Housing Bank and PFRDA from the exclusion list of negotiable instruments; and
○ any power of attorney that empower an entity regulated by these aforesaid agencies to act for, on behalf of, and in the name of the person executing them.
So, now, these negotiable instruments and power of attorneys can also be executed electronically.
For further details, please see:
For any queries / clarifications, please feel free to ping us and we will be happy to chat:
● Mr. Neeraj Dubey (firstname.lastname@example.org)