Simranjeet Singh (Proprietor at S Simranjeet & Associates Company Secretaries) (4396 Points)
12 December 2010hii everyone pls tell in brief the concept of postal ballot....
i think its when a listed public co sent notices for approving specified resolutions to its members by postal mode to save them from attending GM....
whether it includes voting by electonic mode or what else........
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 12 December 2010
Hello,
Section 192A of the Companies Act, provides a mechanism for passing of resolution by postal ballot instead of a general meeting. This provision will provide opportunity to such members who are not able to appoint proxy or not able to attend the general meetings personally. Therefore, it will give all the shareholders equal chance to give their opinion on proposals referred to them under the system.
Applicability of Postal Ballot
Presently the same is applicable to listed companies and the matters which will be decided by postal ballot has been prescribed by the Central Government by the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001.
Please find attached herewith Companies (Passing of the Resolution by Postal Ballot) Rules, 2001 for your reading.
Regards
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 12 December 2010
Please read section 192A along with Companies (Passing of the Resolution by Postal Ballot) Rules, 2001, for better understanding.
Using postal ballot method is mandatory for all the 9 businesses mentioned in Companies (Passing of the Resolution by Postal Ballot) Rules, 2001 for a listed company. For other business items use of PB is optional for a listed company.
For a non-listed company it is optional to use PB method for all businesses. I mean no compulsion at all for an unlisted company.
Please find attached herewith a sample Postal Ballot resolutions Notice.
Regards
Simranjeet Singh
(Proprietor at S Simranjeet & Associates Company Secretaries)
(4396 Points)
Replied 13 December 2010
Thanks Dear Ankur sir for all the timely help........
very helpful replies.....
Ankur Garg
(Company Secretary and Compliance Officer)
(114773 Points)
Replied 13 December 2010
Yes…a statutory meeting is held only once in the lifetime of a public co as desired by section 165. This section is applicable only on a public company.
In a meeting initially vote should be taken by show of hands. (section 177).
But if requisite number of members demanded poll in accordance with section 179 then it is mandatory for chairman to order poll.
Difference between show of hands and Poll
In show of hands only one vote is counted irrespective of number of share you are holding. For example if u r holding 90% shareholding, but still only one vote will be counted.
On the other hand in case of poll voting is based on value and not on number. In this case your 90% shareholding is enough to decide the resolution in your favour. Bcoz you have value in your hand. 100 shareholders holding 10% shareholding can not beat you in poll.
By this way polling can change the entire picture at a meeting.
Hope everything is clear now…
Regards
Simranjeet Singh
(Proprietor at S Simranjeet & Associates Company Secretaries)
(4396 Points)
Replied 13 December 2010
very very good explanation sir..........
now everything is cleared like a mirror...............
thanks very very much....................
Raghuveer
(-)
(29 Points)
Replied 18 February 2011
Hi,
1. Is it possible for a private company to pass a resolution by voting through postal ballot
2. If so, then is it possible to pass such resolution only with the involvement of board of directors ? In other words, is it possible for the shareholders to initate this process without taking recourse to the board ?
aastha vats
(4 Points)
Replied 12 June 2019
aastha vats
(4 Points)
Replied 12 June 2019
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