31st January, 2012
Shareholders' meeting through video conferencing will not be mandatory after 2011-12 also. It will continue to be optional for listed companies as per Circular No. 72/2011, dated 27-12-2011 issued by the Ministry of Corporate Affairs.
In its June, 2011 circular, the MCA had asked listed companies to mandatorily conduct shareholders' meeting electronically after 2011-12. The relaxation comes after finding such video conferencing requirement to be inconsistent with the Companies Act, 1956 and also with the proposed Companies Bill, 2011.
For the purpose of e-voting (electronically voting) in annual meetings, the MCA had earlier authorized National Security Depository Limited and Central Depository Services (India) Limited as agencies for providing e-voting services subject to possession of specified standards certificate. The present circular provides that services of any agency which has obtained the requisite certificate can be used by companies.
Shareholders' meeting through video conferencing will not be mandatory after 2011-12 also. It will continue to be optional for listed companies as per Circular No. 72/2011, dated 27-12-2011 issued by the Ministry of Corporate Affairs.
In its June, 2011 circular, the MCA had asked listed companies to mandatorily conduct shareholders' meeting electronically after 2011-12. The relaxation comes after finding such video conferencing requirement to be inconsistent with the Companies Act, 1956 and also with the proposed Companies Bill, 2011.
For the purpose of e-voting (electronically voting) in annual meetings, the MCA had earlier authorized National Security Depository Limited and Central Depository Services (India) Limited as agencies for providing e-voting services subject to possession of specified standards certificate. The present circular provides that services of any agency which has obtained the requisite certificate can be used by companies.