Creating an exchange 2010 no-reply email can be done in few easy steps that basically includes group with authorized users to send email as no-reply@domain-name and on the other hand block emails sent to no-reply@domain-name email address.
Follow this procedure to create an Exchange 2010 no-reply email:
Step 1 (allow outgoing no-reply email for users)
1.Open active directory users and computers snap in.

2.Create a new users and name it "No-Reply" < create a password for that user < mark the "user cannot change password" and "password never expired" fields.

3.Open exchange 2010 console < add mailbox for existing users < create mailbox for no-reply user.

4.If you want to let number of users send email as no-reply < open active directory users and computers snap in < open a new Global |Security group < add all the users that need permission to send as no-reply to this group.

5.Open No-Reply user properties < go to security tab < add the group you created on section 4 < mark the "send as" permission for this group.

Step 2 (disable incoming messages to no-reply mailbox:

1.Open exchange 2010 console.

2.Go to transport rules < create a new transport rule (this step is much similar to creating an outlook rule except it’s a server rule).

3.Under "conditions" < Mark the upper tab called "send to people" < on the bottom choose the no-reply mail address < press "next".

4.Under "actions" < mark the Send rejection message to sender with enhanced status code" and edit the message you want to be appear to people that sent to no-reply.

That’s is
Now you can send as a logged in user from the no-reply group.