Amendment to the Equity Listing Agreement - Platform for E-Voting by Shareholders of Listed Entities
Summary
This circular mandates listed companies to enable e-voting facilities for shareholders regarding businesses transacted via postal ballot. The requirement initially applies to the top 500 listed entities based on market capitalization, with compliance effective from October 1, 2012. Recognized Stock Exchanges are instructed to amend their Equity Listing Agreements to incorporate these new listing conditions.
Text
mandate the listed companies to enable e-voting facility also to their shareholders, in respect of those businesses which are transacted through postal ballot... applicable to top 500 listed entities at BSE and NSE
the concerned listed companies shall choose any one of the agencies, which is currently providing e-voting platform for this purpose
agencies providing such e-voting platform shall ensure that the process for e-voting is explained... along with necessary “FAQs” and shall also ensure that the draft resolutions... are displayed prominently
amendment as specified in Annexure shall be applicable for the shareholders’ meetings, for which notices are issued on or after October 01, 2012
Recognised Stock Exchanges are advised to notify the list of listed companies, for which the above decision shall be applicable, as per the criteria specified at point 4 above
listing conditions are specified in exercise of the powers conferred under Section 11 read with Section 11A of the Securities and Exchange Board of India Act, 1992
All Recognised Stock Exchanges are advised to ensure compliance with this circular and carry out the amendments in their Equity Listing Agreement as per the Annexure
The issuer agrees to provide e-voting facility to its shareholders, in respect of those businesses, which are transacted through postal ballot
Issuer shall continue to enable those shareholders, who do not have access to e-voting facility, to send their assent or dissent in writing on a postal ballot
Issuer shall utilize the service of any one of the agencies providing e-voting platform, which is in compliance with conditions specified by the Ministry of Corporate Affairs
Issuer shall mention the Internet link of such e-voting platform in the notice to their shareholders
Source: SecMarx — Amendment to the Equity Listing Agreement - Platform for E-Voting by Shareholders of Listed Entities. Verbatim text is public record; SecMarx structuring (linkage to applying orders) is cited to us.