Monday 16 July 2012

E Voting - mandated for top 500 listed companies on the BSE and the NSE

E Voting is a new concept in India and introduction of which will take India well ahead of other developed countries.  The Securities and Exchange Board of India (SEBI) made it mandatory for top listed firms to provide for electronic voting facilities wherever shareholders are allowed to vote through postal ballot.
“To begin with, it would be mandated for top 500 listed companies on the BSE and the NSE based on market capitalization. Listed companies may choose any one of the agencies which is currently providing the e-voting platform,”.  SEBI has also announced that in future other more companies will be brought into ambit of E Voting. E Voting is proposed to be mandatory from 01.10.2012 in India.
SEBI aims at increase in transparency and participation of shareholders in shareholders meeting. This will also strengthen Corporate Governance standards and also help to reduce administrative cost which is associated with Postal Ballot.
E Voting can be done through NSDL and CDSL by simply creating User ID.

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