Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Postal ballot - urgent

801 views 1 replies

ars

445 Points Posted on 01 November 2011

With ref. to sec 192A and the passing of resolutions by p.b. rules, 2001.

1. The rule 5 (a) suggests that there has to be gen. mg. following the p.b. procedure. But now a days only a board meeting is conducted to approve the p.b. results - pl. comment

2. The rule 5 (e) indicates that the chairman considers,approvesa and sign the minutes of meeting- which meeting is referred here- pl. comment

3. The method of sending the notice - a) One has option of sending by regd. post with ack, OR by UPC - which is now stopped by postal dept. instead one can use electronic mode. AND b) publishing the ad. in news papers.- I have hardly seen any such adv. in news papers. Co. do skip this requirement - pl. comment.

4. request to share a schedule / time table of the p.b. procedure.

5. request to share the mandatory compliances and any other practical requirments in this regard.

Replies (1)

Rakesh Dhanuka

Company Secretary

478 Points Posted on 01 November 2011

1) No Board Meeting is held to declare the result of postal result. Infact in the notice of postal ballot itself date of declaration of result is mentioned which is considered as deemed general meeting date. Refer section 192A it is stated that result declaration date is considered as deemed general meeting date.

2) Rule 5 (e) is talking about minutes of the general meeting (date on which postal ballot result is declared)

3) a) Refer new MCA postal ballot rules, 2011. b) Company is required to publish about completion of despatch of notice of postal ballot to all concern shareholders and also result of postal ballot.