E voting--(As per The Companies Act-1956 ) and (Revised Clause -49 of the Listing Agreement -w.e.from 01.10.2014)
Facts
1) As per the recent circular MCA-e voting date is extended till 31.12.2014 by referring section 108 and rules and various clarifications.
2) As per revised clause -49 of Listing agreement -the Clause -35B is applicable to all the listed companies.(The Text of the SEBI circular dated 17.04.2014 states that e voting in respect of all shareholder’s resolution to be passed at general meeting or through postal ballot.
3) BSE has referred same circular of MCA for extension of deadline and have passed its circular which is available on BSE website.
Query :-
Now there are 2 things for e voting where the clarifications are reqd,(1) e voting at general meeting and (2) e voting in postal ballot
1) As per The companies act - whether e voting for postal ballot is mandatory?? ( as section 108 speaks only for e voting at general meeting for which date is extended.) if yes , please suggest where its is mentioned.
2) As per the revised clause 49 of listing agreement and as per above refereed text of sebi circular ,e voting for postal ballot is also mandatory .Now , there is confusion as the The Question is Whether e Voting in Postal Ballot As Per Listing Agreement For All Listed Companies Are Mandatory ? If Yes w.e.From When ?
3) The confusion is because as per The companies act 2013, there are two different sections for e voting for general meeting (Section 108 ) and postal ballot (Section 110 ) but in revised clause -35B of listing agreement both the things are mentioned together and BSE in its circular have not refered the Clause -35 B.So how to interpret.pl.suggest
CAclubindia
