What is e-Voting?
An e-Voting is voting via an electronic system where shareholders can vote on resolutions of companies requiring voting via Postal Ballot as per extant rules and regulations without having the necessity of sending their votes by post.
MCA (Ministry of Corporate Affairs) has authorized NSDL for setting up an electronic platform to facilitate shareholders to cast votes in electronic form.
Thus, NSDL has set-up an electronic infrastructure to facilitate shareholders to cast votes in electronic form via the internet.
In also addition, the e-voting system eliminates the appointment of proxy because the e-Voting System brings flexibility, convenience, and ease of operation for the shareholder to cast vote via the internet which eliminates the need to appoint a proxy.
Legal framework for permitting e-Voting
The Section 110 of the Companies Act, 2013 read Rule 22 of the Companies (Management and Administration) Rules, 2014 recognizes the procedure to be followed for conducting business through Postal Ballot.
Benefit from the e-Voting System for shareholders
- Substantial reduction in administration cost.
- Accuracy in the counting of votes.
- Elimination of postal ballots getting lost in transit.
- Paperless mode of casting vote.
- Sufficient time for shareholders to vote till the end of a voting cycle.
Registration for e-Voting facility
Click on the below link https://www.evoting.nsdl.com and download registration-related information from the Download section.
Whereas, through the NSDL e-Voting website https://www.evoting.nsdl.com and you can also download the User manual.
When the Demat account/shares are held by joint holders, then in that case only one of the many joint holders is entitled to exercise voting power, whereas in the case of e-voting only the first holder is recognized to send user ID & password for e-voting.
Thus, the vote cast using the User ID and password sent to the first holder is recognized on behalf of all the joint holders, as the shareholder who casts the vote via e-Voting services of NSDL is doing so on behalf of all joint holders.
Note: Vote once cast will be considered final and can’t be modified.