Confusion over deferment of eVoting for FY 2014-15 for Listed Companies

MCA had issued General Circular No. 20/2014. Clarification with regard to voting through electronic means on 17th June, 2014.

As per General Circular No. 20/2014 dated 17/06/2014 the Ministry of Corporate Affairs (MCA) deferred the date of implementation of the the provisions related to e-voting to 31st December, 2014.

As per Section 108 of the Companies Act, 2013 read with rule 20 of the Companies (Management and Administration) Rules, 2014 deal with the exercise of right to vote by members by electronic means (e-means), Every listed company or a company having not less than one thousand shareholders, are supposed to provide to its members facility to exercise their right to vote at general meetings by electronic means.

However, the Bombay Stock Exchange has issued the below circular.

DCS/COMP/04/2014-15                                                                             June 18, 2014

Sub: Clarification with regard to voting through electronic means

 Attention of all the listed companies is drawn to the general circular no. 20/2014 dated June 17, 2014 issued by the Ministry of Corporate Affairs, Government of India; on the captioned subject. 

 Accordingly, all the listed companies are requested to take note of the same. This would however be subject to the provisions of SEBI circular CIR/CFD/POLICY CELL/2/2014 dated April 17, 2014.

 Thank you.

Yours faithfully,

Netra Sahani                                                               Jeevan Noronha

DGM Listing Compliance                                           Manager Listing Compliance


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