Electronic voting (also known as e-voting) is voting that uses electronic means to either aid or take care of casting and counting votes. … It may encompass a range of Internet services, from basic transmission of tabulated results to full-function online voting through common connectable household devices.
As per rule 20(2) the provisions of e-voting are applicable to:-
Company having not less than 1000 members
Company other than those referred to in chapter XB(Companies listed on SME exchange) or chapter XC(Companies listed on institutional trading platform without IPO) of ICDR regulations, 2009 and having its equity shares listed on a recognized stock exchange.
Due to change in applicability now following companies are out of ambit of e-voting:-
The remote e-voting period shall be of minimum 3 days and end necessarily 1 day before the general meeting at 5:00 P.M. Once the vote on a resolution is cast by the member, he shall not be allowed to change it subsequently or cast the vote again.
At the end of the remote e-voting period, the facility shall forthwith be blocked, provided that if a company opts to provide the same electronic system as used during remote e-voting during the general meeting, the said facility shall be in operation till al the resolutions are considered and voted upon in the meeting and may be used for voting by the member attending the meeting and who have not exercised their right to vote through remote e-voting.
In order to avail the facility of e-Voting, the following procedure is to be followed by Issuer:
(a). e-Voting System allows Issuer/ R & T Agent to modify the voting cycle.
(b). e-Voting System allows Issuer/ R & T Agent/ Scrutinizer to extend the voting cycle.
(c). e-Voting System has a provision for reset password for users.
(d). e-Voting System has an option for the shareholders to edit their mobile number or e-mail ID.
(e). e-Voting System allows Scrutinizer to view the details of voting viz; votes cast for, votes cast against.
DISCLAIMER: THE ARTICLE IS BASED ON THE RELEVANT PROVISIONS AND AS PER THE INFORMATION EXISTING AT THE TIME OF THE PREPARATION. IN NO EVENT I SHALL BE LIABLE FOR ANY DIRECT AND INDIRECT RESULT FROM THIS ARTICLE. THIS IS ONLY A KNOWLEDGE SHARING INITIATIVE.
THE AUTHOR – CS DEEPAK SETH (ASSOCIATE PARTNER OF HELPINGHANDS PROFESSIONALS LLP) AND CAN BE REACHED AT [email protected] OR 9910248911.