TMI BlogVoting through electronic means.X X X X Extracts X X X X X X X X Extracts X X X X ..... posits from and lending to, its members only, for their mutual benefit, and which complies with such rules as are made by the Central Government for regulation of such class of companies. Explanation-II.- For the purposes of this rule, the expression- (i) 'agency' means the National Securities Depository Limited, the Central Depository Services (India) Limited or any other entity approved by the Ministry of Corporate Affairs subject to condition that the National Securities Depository Limited, the Central Depository Services (India) Limited or such other entity has obtained a certificate from the Standardisation Testing and Quality Certification Directorate, Department of Information Technology, Ministry of Communications and Information Technology, Government of India including with regard to compliance with parameters under Explanation (vi); (ii) 'cut-off date' means a date not earlier than seven days before the date of general meeting for determining the eligibility to vote by electronic means or in the general meeting; (iii) cyber security means protecting information, equipment, devices, computer, computer resource, communication device and inform ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... te by remote e-voting shall be able to exercise their right at the meeting; (C) that the members who have cast their vote by remote e-voting prior to the meeting may also attend the meeting but shall not be entitled to cast their vote again; (iv) the notice shall - (A) indicate the process and manner for voting by electronic means ; (B) indicate the time schedule including the time period during which the votes may be cast by remote e-voting; (C) provide the details about the login ID; (D) specify the process and manner for generating or receiving the password and for casting of vote in a secure manner. (v) the company shall cause a public notice by way of an advertisement to be published, immediately on completion of despatch of notices for the meeting under clause (i) of sub-rule (4) but at least twenty-one days before the date of general meeting, at least once in a vernacular newspaper in the principal vernacular language of the district in which the registered office of the company is situated, and having a wide circulation in that district, and at least once in English language in an English newspaper having country-wide circulation, and specifying in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing 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. (ix) the Board of Directors shall appoint one or more scrutiniser, who may be Chartered Accountant in practice, Cost Accountant in practice, or Company Secretary in practice or an Advocate, or any other person who is not in employment of the company and is a person of repute who, in the opinion of the Board can scrutinise the voting and remote e-voting process in a fair and transparent manner: Provided that the scrutiniser so appointed may take assistance of a person who is not in employment of the company and who is well-versed with the electronic voting system; (x) the scrutiniser shall be willing to be appointed and he available for the purpose of ascertaining the requisite majority; (xi) the Chairman shall, at the general meeting, at the end of discussion on the resolutions on which voting is to be held, allow voting, as provided in clauses (a) to (h) of sub-rule (1) of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll be placed on the website of the company, if any, and on the website of the agency immediately after the result is declared by the Chairman : Provided that in case of companies whose equity shares are listed on a recognised stock exchange, the company shall, simultaneously, forward the results to the concerned stock exchange or exchanges where its equity shares are listed and such stock exchange or exchanges shall place the results on its or their website. (xvii) subject to receipt of requisite number of votes, the resolution shall be deemed to be passed on the date of the relevant general meeting. Explanation.- For the purposes of this clause, the requisite number of votes shall be the votes required to pass the resolution as the ordinary resolution or the `special resolution', as the case may be, under section 114 of the Act . (xviii) a resolution proposed to be considered through voting by electronic means shall not be withdrawn.] ----- Notes:- 1. Inserted vide Notification No. 01/34/2013 CL-V - Dated 23-6-2014. 2. Substituted vide Notification No. 01/34/2013 CL-V - Dated 23-6-2014. Before it was read as, which opts to provide . ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the business may be transacted through electronic voting system and the company is providing facility for voting by electronic means; (iv) 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; (v) the company shall cause an advertisement to be published, not less than five days before the date of beginning of the voting period, at least once in a vernacular newspaper in the principal vernacular language of the district in which the registered office of the company is situated, and having a wide circulation in that district, and at least once in English language in an English newspaper having a wide circulation in that district, about having sent the notice of the meeting and specifying therein, inter alia, the following matters, namely:- (a) statement that the business may be transacted by electronic voting; (b) the date of completion of sending of notices; (c) the date and time of commencement of voti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ers relating to electronic voting shall remain in the safe custody of the scrutinizer until the chairman considers, approves and signs the minutes and thereafter, the scrutinizer shall return the register and other related papers to the company. (xiv) the results declared along with the scrutinizer s report shall be placed on the website of the company and on the website of the agency within two days of passing of the resolution at the relevant general meeting of members; (xv) subject to receipt of sufficient votes, the resolution shall be deemed to be passed on the date of the relevant general meeting of members. 4. Substituted vide F. No. 1/34/2013 CL-V-Part-I - Dated 23-9-2016 , before it was read as, (2) Every company other than a company referred to in Chapter XB or Chapter XC of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 having its equity shares listed on a recognised 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. 5. Sub ..... X X X X Extracts X X X X X X X X Extracts X X X X
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