e-voting by shareholders deferred – MCA circular

Ministry of Corporate Affairs (MCA) has vide its circular no. 20 dated 17th June, 2014 deferred the mandatory requirement of e-voting by the shareholders until 31st December, 2014. They have also issued some clarification on the e-voting procedure, such as:

1) voting by show of hands is not applicable where e-voting takes place. So there is compulsory voting by poll at the general meetings.

2) Shareholders who have voted electronically, will be allowed to participate physically in the general meetings, but they cannot vote on the resolutions;

3) Where certain items are required to be transacted only by postal ballot, there is no leeway in those matters – it has to be decided only by postal ballot and not at the general meeting;;

4) Where a person is unable to vote electronically and not able to attend the general meeting also, then he would not get any facility to vote by postal ballot.

5) Para IV and para VI of the said circular is not clear

Copy of the said circular is given in this link http://www.mca.gov.in/Ministry/pdf/General_Circular_20_2014.pdf 




Leave a comment

Filed under Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s