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Annual general meeting

Ashish Gupta (82 Points)

19 August 2018

MR.M a foriegn shareholder ,receives notice of agm after it was held.Comment

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Arun Kumar Singh (Sr Manager ) (31 Points)
Replied 19 August 2018

An unlisted company but having more than 1000 memebrs required to provide e Voting faciity in its AGM schedule in Sep 2018 as per amendemnt dated 23rd September, 2016

which reads as in Rule 6. In the principal rules, in rule 20, for sub-rule (2), the following sub-rule shall be substituted, namely:- “(2) Every company which has listed its equity shares on a recognised stock exchange and every 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 a general meeting by electronic means: Provided that a Nidhi, or an enterprise or institutional investor referred to in Chapter XB or Chapter XC of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 is not required to provide the facility to vote by electronic means: Explanation.- For the purpose of this sub-rule, “Nidhi” means a company which has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from and lending to, its members only, for their mutual benefit, and which complies with such rules as are prescribed by the Central Government for regulation of such class of companies.”.

In veiw of above please provide input with respect to e voting by the Compnay in its AGM scheduled in Sep 2018

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Ashish Gupta (82 Points)
Replied 19 August 2018

i can't understand plzz write in simple words

Arun Kumar Singh (Sr Manager ) (31 Points)
Replied 19 August 2018

Sir, clarification required on e Voting for unlisted compnay having more than 1000 memebrs as per Amedment of Rule 20 of Companies(Management & Administration) Amendment Rules, 2016, dated 23rd September, 2016 which states as :

6. In the principal rules, in rule 20, for sub-rule (2), the following sub-rule shall be substituted, namely:-

“(2) Every company which has listed its equity shares on a recognised stock exchange and every 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 a general meeting by electronic means:

So need clarification on whetrher unlisted compnay having more than 1000 mebers required to provide facility of eVoting in its AGM or Not only Show of Hands/Proxy /Ballot shall suffice.

As per simple interepretation the meaning of amended rule 20 after and which reads as and 'every 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 a general meeting by electronic means:'

Thus as per above E Voting required to be provided by compnay having more than 1000 members irrespective of listed or unlisted company , please clarify and oblige.

Arun Kumar Singh (Sr Manager ) (31 Points)
Replied 19 August 2018

6. In the principal rules, in rule 20, for sub-rule (2), the following sub-rule shall be substituted, namely:- “(2) Every company which has listed its equity shares on a recognised stock exchange and every 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 a general meeting by electronic means:

So need clarification on whetrher unlisted compnay having more than 1000 mebers required to provide facility of eVoting in its AGM or Not only Show of Hands/Proxy /Ballot shall suffice.

Thus as per above E Voting required to be provided by compnay having more than 1000 members irrespective of listed or unlisted company , please clarify and oblige.