COMPARATIVE ANALYSIS OF E-VOTING RULES
CS Sandeep Kumar Jain 0000-00-00 00:00:00
Heading |
Provisions amended on 18.03.2015 |
Provisions before 18.03.2015 |
Remarks |
Applicability |
The provisions of this rule shall apply in respect of the general meetings for which notices are issued on or after 19th March 2015. |
Initially the provisions were applicable from 1st day of April 2014 mandatorily, but later on: MCA vide Circular No. 20/2014 dt. 17th June 2014 had decided not to treat these provisions mandatory upto 31st December 2014 While As per SEBI circular dt. 17.04.2015, listed companies are necessarily to provide e-voting facility in respect of all shareholders' resolutions, to be passed at General Meetings or through postal ballot.
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Now, the E-voting provisions are applicable on all the companies covered under the said Rule. |
Reporting Companies |
Every company other than a company referred to in Chapter XB or XC of the SEBI (ICDR) 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. |
Every listed company or a company having not less than one thousand shareholders
shall provide to its members facility to exercise their right to vote at general meetings by electronic means. |
The companies whose equity shares are listed on a recognized stock exchange other than a company referred to in Chapter XB or XC of the SEBI (ICDR) Regulations, 2009 or a company having not less than one thousand members, shall provide e-voting facility to exercise their right to vote on resolutions proposed to be considered at general meetings. |
Explanation |
The explanations of expressions Agency, Cut-off date, cyber security, electronic voting system, remote e-voting and secured system is provided.
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The explanations of expressions electronic voting system, secured system and cyber security was provided. |
Newly added expressions: Agency, Cut-off date and remote e-voting. |
To whom and how the notice to be dispatched. |
Same as earlier |
The notices of the meeting shall be sent to all the members, auditors of the company, or directors either - by registered post or speed post ; or through electronic means registered e-mail id or by courier service;
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No amendment |
Website disclosure |
Same as earlier |
The notice shall also be placed on the website of the company, if any and of the agency forthwith after it is sent to the members; |
No change |
Notice writing |
The notice of the meeting shall clearly state-
The notice shall :-
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The notice of the meeting shall clearly mention that the business may be transacted through electronic voting system and the company is providing facility for voting by electronic means;
The notice shall clearly indicate the process and manner for voting by electronic means and the time schedule including the time period during which the votes may be cast and shall also provide the login ID and create a facility for generating password and for keeping security and casting of vote in a secure manner.
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The provisions are made more clear and specific.
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Advertisement in newspaper |
The company shall cause a public notice by way of an advertisement to be published, immediately on completion of dispatch of notices for the meeting under clause (i) of sub-rule (4) but at least twenty-one days before the date of general meeting,
Provided that the public notice shall be placed on the website of the company, if any, and of the agency;
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The company shall cause an advertisement to be published, not less than five days before the date of beginning of the voting period,
about having sent the notice of the meeting and specifying therein, inter alia, the following matters, namely:-
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Now advertisement is to be published, at least twenty-one days before the date of general meeting and the same has to placed on the website of the company, if any, and of the agency
Publication of advertisement in an english news-paper having country vide circulation is required instead of district wise
Statement also include
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Time- frame of e-voting |
The facility for remote e-voting shall remain open for not less than three days and shall close at 5.00 p.m. on the date preceding the date of the general meeting |
The e-voting shall remain open for not less than one day and not more than three days: Provided that in all such cases, such voting period shall be completed three days prior to the date of the general meeting;
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Now e-voting facility shall remain open for at least three days in contrast to earlier provisions to keep open for at least 1 day and maximum 3 days.
E- Voting shall close at 5.00 p.m. on the date preceding the date of the general meeting earlier voting period shall be completed 3 days prior to the date of general meeting. |
Members eligibility to cast vote electronically |
During the period when facility for remote e-voting is provided, the members of the company, holding shares either in physical form or in dematerialized form, as on the cut-off date, may opt for remote e-voting: Provided that 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: Provided further that a member may participate in the general meeting even after exercising his right to vote through remote e-voting but shall not be allowed to vote again;
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During the e-voting period, shareholders of the company, holding shares either in physical form or in dematerialized form, as on the record date, may cast their vote electronically: Provided that once the vote on a resolution is cast by the shareholder, he shall not be allowed to change it subsequently.
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Now member’s have a right to participate in the general meeting even after exercising his right to vote through remote e-voting but shall not be allowed to vote again. |
Blocking of e-voting system |
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 voting system as used during remote e-voting during the general meeting, the said facility shall be in operation till all the resolutions are 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.
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At the end of the voting period, the portal where votes are cast shall forthwith be blocked. |
If company opts to provide the same electronic voting system as used during remote e-voting during the general meeting, then said facility shall remain open for members attending the general meeting. |
Appointment of Scrutinizer(s) and his eligibility. |
The Board of Directors shall appoint one or more scrutinizers, who may be
is a person of repute who, in the opinion of the Board can scrutinize the voting and remote e-voting process in a fair and transparent manner. |
The Board of directors shall appoint one scrutinizer, who may be
is a person of repute who, in the opinion of the Board can scrutinize the e-voting process in a fair and transparent manner.
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