E-VOTING AS PER COMPANIES ACT 2013

 
General meetings of companies are held at their registered offices and it is not possible for every member specially a members holding minor shares to travel upto the registered office of the company and participate in the general meeting of the company.
 
To eliminate this type of difficulty and to enhance the participation of minority members, concept of e-voting has been introduced by the Companies Act 2013. Now a member can cast his vote easily through his laptop or tablet or PC without physically attending the general meeting.
 
 
E-voting do not eliminate members right to physically attend and vote at the general meeting however member can cast his vote through one mode only. A member after casting his vote through e-voting can go and attend the general meeting but cannot cast vote in that general meeting.
 
 

WHICH COMPANIES NEED TO PROVIDE E-VOTING FACILITY?

 
As per section 108 read with rule 20 the ‘Companies (Management and Administration) Rules, 2014’ following companies need to provide e-voting facility to their members to vote at general meetings.

• every listed company and

• every company having 1000 or more shareholders

 
MCA vide its circular No. 20/2014, dated 17^th June 2014,  has clarified that the due to some practical difficulties the e-voting would not be mandatory till 31^st Dec. 2014.  http://mca.gov.in/Ministry/pdf/General_Circular_20_2014.pdf
 
However SEBI has clarified that listed companies shall have to provide e-voting facility to its members for all resolutions in general meetings.
 
Following are some of companies who are providing e-voting facility at their ensuing general meetings.
 
 

HOW E-VOTING WORKS?

1. The Company desiring to use e-voting system has to avail services of any one of the following agencies.

1. The agency will issue User- id’s and passwords having the maker , checker and scrutinizer privileges.

1. The Company itself or through its Registrar and Transfer Agent [RTA] will setup the e - Voting schedule on the e - Voting website, upload the resolutions on which voting is required

1. The company can then upload the Register of Members (ROM) , which contains the details of the security holders holding the securities in physical and demat mode across both depositories, as on the record date in the specified format .

1. Agency  will then generate the password for security holders and forward the same to the Company / RTA.

1. The company will then communicate the password, EVSN and the procedure for e-Voting, along with the notice of the resolution to all the security holders.

1. The security holders should log on to website of agency during the duration of the Postal Ballot and cast their votes for all the resolutions on the e-Voting System.

1. After the voting period is over, the e -Voting system will provide to the scrutinizer,

1.  Security holder wise details of the voting done in a report along with a summary , for the records of the company.

Scrutinizer’s report of some companies;
 

Reliance Industries Limited
https://evoting.karvy.com/Scrutinizer_Report_%20EVoting_instapoll.pdf
 
Nestle
https://www.evoting.nsdl.com/eVotingWeb/downloads/100188_NESTLE_Result.pdf
 
ICICI Bank Limited
 
https://www.evoting.nsdl.com/eVotingWeb/downloads/Scrutinizers_Report_final.pdf
 
 
 
 
 
 
  
Thanks & Regards:
KASHIF ALI & ASSOCIATES
Company Secretaries
268, Business India Complex,
Uday Park, New Delhi-110049
Call us : +91 9718483209
 E-mail : cs.kashifali@gmail.com