India’s Ministry of Corporate Affairs has gathered a group of experts to examine and review the new legislation ruling the use of electronic voting in corporate governance.
The team will discuss the methodology that businesses and shareholders can implement to facilitate the effective use of electronic voting for decision-making.
According to official sources, the working group began its meetings in September in New Delhi. It is made up of eight or nine members, including state professionals and industry representatives.
The Ministry of Business Affairs proposed that electronic voting be made optional for companies until the end of the year to give them time to understand the new requirements and ensure greater compliance.
The Ministry also clarified that they would not allow the “show of hands” system to be used to make decisions in place of electronic voting. Additionally, electronic voting does not exclude shareholders from a specific company from attending and participating in general meetings.
However, they cannot vote twice; for example, they cannot vote in-person and electronically. Moreover, the opinions that the shareholders express via electronic voting will be treated as final.
