Dear all kindly help me to clarify as to whether it is mandatory to pass a resolution through postal pallot in a listed company under section 372A, 293(1) (a) and (d) or can i take it up in the ensuing annual general meeting instead of going through postal ballot process?
Yes it is mandatory for more explanation please follow this link: https://s3.amazonaws.com/caclubindia/cdn/forum/files/646638_922822_postal_ballot_businesses_for_listed_cos.pdf
but it is a mere way out so that if frequently membres meeting cannot b held we can pass a resolution by postal ballot isnt it so?..................
True to some extent but the reason for postal ballot is generally bcoz in case listed company it is difficult in the part of all member to attend the meeting at one place so they are sent postal ballot for getting their opinion. moreover in your case if it with in the limit prescribed under sec372A it can be passed through board meeting also...
no the limits exceeds .........now what to do......just one doubt whether it is mandatory...........read the section 192A and rules again and help me
Dear as per my opinion and interpretation of The Companies (Passing of the Resolution by Postal Ballot) Rules, 2001 it is wrirten List of businesses in which the resolutions shall be passed through Postal Ballot. and section 192A says whatever business Defined by central government to be passed through only postal ballot shall be passed through that method only and it is deemed to have been passed at the general meeting convened in this behalf that means result of postal ballot is to be approved in the general meeting convened in this behlaf.....but more interpretation from expert is sought.
yes and the section says :-
Dear Sheenam,
Please Read it once again.....what it is saying that a pulic limited company may pass any matter by way of postal ballot instead of instead of transacting the business in general meeting of the company. That means in addition to resolution prescribe by CG they can pass any other resolution which is required to be passed in general meeting through postal ballot..
you are taking it in the way you wish to have it...so please get the same comfirmed before taking it from expert.....all the best and please update me too if i am wroung some where.
CAclubindia
