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Convening Shareholder meetings through Video conferencing made optional for Listed Companies

General Circular No. 35/2011 issued on 6th June, 2011 provided the following provisions with respect to Video Conferencing of Shareholders’ meetings.

(ii) In respect of shareholders meetings to be held during financial year 2011-12, video conferencing facility for shareholders is optional. Thereafter, it is mandatory for all listed companies.

(v) In the case of e-voting in general meetings, the Ministry of Corporate Affairs are presently authorizing only National Security Depository Ltd and Central Depository Services (India) Ltd as agencies for providing and supervising electronic platforms for electronic voting subject to the conditions that they obtain a certificate from Standardization Testing and Quality Certification (STQC) Directorate, Department of Information Technology, Ministry of Communication and IT, Government of India, New Delhi.

The above two points have now been scrapped and accordingly:

1. Convening Shareholders meetings for Listed Companies even beyond 2012 will be optional

2. MCA is not authorising any particular agency for conducting Electronic voting. Any such agency has to obtain a certificate from Department of Information  Technology.

General Circular No. 72 dated 27-12-2011 is available at the MCA site.

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