Thursday, November 26, 2009

E-Voting rights

Here is a news item which gives voting rights to minority shareholders.

Shareholders of a company can now cast their vote electronically on company resolutions through an Internet-based e-voting platform. The e-voting platform for corporates was inaugurated by Mr Salman Khurshid, Minister for Corporate Affairs, at a function organised by the Bombay Stock Exchange (BSE) and Central Depository Services Ltd.

"It is a major step forward that would bring more transparency to the system," Mr Khurshid said, adding that he wished the same could happen in the election of political representatives as well.

Dont know how much it can protect minority investors

The e-voting platform has been developed by CDSL Ventures Ltd (CVL), a wholly-owned subsidiary of Central Depository Services Ltd (CDSL).

"The e-voting system will empower shareholders to participate in the decision-making process of companies in which they have invested, thus making their vote count," Mr S.S. Thakur, Chairman of CVL, said.

During the voting period investors can cast their vote by visiting the Web site ( and log on using their demat account number and permanent account number (PAN) and password.

how will be sending me the password? can that be changed ? Need to look it .

Companies would benefit from this system as the remote voting process would also result in savings on various cost overheads, which are currently incurred for postal ballot.

Pradeep Reddy Lekkala

No comments:

Post a Comment