E-Voting Change in Rules: MCA March 19, 2015 Notification

 

The Ministry of Corporate Affairs, through its notification dated 19th March 2015, notified following changes to the prevalent e-voting rules and practices:
 
All listed companies having at-least 1000 members have to provide e-voting facility. This facility was earlier limited to top-500 listed companies

(Text: Every company other than a company referred to in Chapter XB or Chapter XC of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations’ 2009 having its equity shares listed on a recognized stock exchange or a company having not less than one thousand members, shall provide to its members facility to exercise their right to vote on resolutions proposed to be considered at general meetings by electronic means)
 
Shareholders can also vote electronically by being present at the meeting themselves

(Text: if a company opts to provide the same electronic voting system as used during remote e-voting during the general meeting, the said facility shall be in operation till all the resolutions arc considered and voted upon in the meeting and may be used for voting only by the members attending the meeting and who have not exercised their right to vote through remote e-voting.)
 
Cut-off date for e-voting to be a date not earlier than seven days before the date of the general meeting

(Text: cut-off date means a date not earlier than seven days before the date of general meeting for deter-mining the eligibility to vote by electronic means or in the general meeting)
 
Resolutions, for which e-voting facility has been provided cannot be withdrawn

(Text: a resolution proposed to be considered through voting by electronic means shall not be with-drawn.”)
 
Results to be declared within three days from the conclusion of the meeting

(Text: the scrutinizer shall, immediately after the conclusion of voting at the general meeting, first count the votes cast at the meeting, thereafter unblock the votes cast through remote e-voting in the presence of at least two witnesses not in the employment of the company and make’ not later than three days of con-clusion of the meeting’ a consolidated scrutinizer’s report of the total votes cast in favour or against, if any, to the Chairman or a person authorised by him in writing who shall countersign the same:
Provided that the Chairman or a person authorised by him in writing shall declare the result of the voting forthwith)