SEBI issues format for board meeting voting results
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Capital markets regulator Sebi on Wednesday asked listed firms to make disclosure, within 48 hours of the board meeting, about the number of shareholders who attended such meeting and mode of voting within the prescribed format.
The new norms will come into force with effect from December 1. In a circular, Securities and Exchange Board of India (Sebi) has said that a listed company will have to submit to the stock exchange, within 48 hours of conclusion of its General Meeting, details regarding the voting results in a prescribed format.
Listing out details that need to be disclosed, the markets regulator said that companies would have to inform about the date of the AGM/EGM, total number of shareholders on record date, number of shareholders (promoter and public) who attended the meeting either in person or through proxy and those who attended it through video conferencing.
Also, agenda-wise disclosure need to be made, whether the resolution can be passed through ordinary or special voting and whether promoter entities are interested in the agenda, Sebi said.
Under the format, the firms will also have to make disclosure about the number of votes cast in favour as well as against a particular agenda by promoters, public institution and public non-institution. (PTI)
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