Postal Ballot under Companies Act, 2013
Section 110 of Companies Act, 2013 and Rule 22 of Companies (Management and Administration) Rules, 2014 provides for voting by Postal Ballot.
POSTAL BALLOT means voting by post or through electronic means within a period of thirty days from the date of dispatch of the notice to the shareholders. The assent or dissent received after 30 days from the date of issue of notice shall be treated as if reply from the member has not been received.
Companies which are not required to transact any business through Postal Ballot: –
Items which shall be transacted by means of Postal Ballot only: –
Items which cannot be transacted by means of Postal Ballot: –
Procedure to be followed for conducting business through Postal Ballot: –
|Statements||a) The business is to be transacted by postal ballot which includes e-voting;
b) the members, who have not received postal ballot forms may apply to the company for obtaining a duplicate thereof;
c) Contact details of the person responsible to address the grievances.
d) any postal ballot received from the members beyond the said date will not be valid;
|Dates||a) Date of completion of dispatch of notice
b) date of commencement of voting
c) date of end of voting
The Notice shall be placed on the website of the Company, after it has been sent to the members of the company till the last date of receipt of postal ballot from the members.
The Board of Directors shall appoint one scrutinizer, who is not in the employment of the Company and who, in the opinion of the Board can conduct the postal ballot voting process in a fair and transparent manner.
He shall be willing to be appointed and available for the purpose of ascertaining the requisite majority.
Postal Ballot received back from the shareholders shall be kept in the safe custody of the scrutinizer till the chairman considers, approves and signs the minutes.
The scrutinizer shall submit his report as soon as possible after the last date of receipt of postal ballots but not later than seven days thereof;
To record the assent or dissent received, mentioning the particulars of name, address, folio number or client ID of the shareholder, number of shares held by them, nominal value of such shares, whether the shares have differential voting rights.
Results along with the scrutinizer’s report shall be placed on the website of the company.