Corona is good for corporate governance. The government, without any known intention to do so, adopted an inclusive approach for the benefit of members and shareholder of companies in India. If you are a shareholder in any company in India, this is the best time for you to attend a General Meeting of your company. Of course, you will be part of their decision-making process in all practical manner. Read More to avail best out of this opportunity and share a lot for benefit of lakhs of individual investors and improvement of corporate Governance.
For ease of understanding in this post, we will not go into deep in theory and process of laws.
As a shareholder of a company, it is our right to attend a general meeting of a company. This is a good opportunity for members to have first-hand feels of the company of which you are a part-owner. However, thousands of shareholders outside big cities never attend any general meeting of a company. Same time Shareholder from major cities have not got the opportunity of corporate governance but mostly the mess created by a few. This is the best time. All shareholders will have the opportunity to attend a general meeting online like your online meeting with office collogues.
your pre-requisite
No doubt, to be a shareholder a person should have at least a share either in the physical form of the share certificate or have shares in your Demat accounts. If you do not have any share, you may purchase a few good shares of listed companies of your choice. Share market is not doing best, hence you may find shares of good value in less price. Please note, this is not a piece of investment advice.
To attend a general meeting, the shareholder should have either a computer, laptop, tablet or mobile phone. Even a budget mobile with 4G mobile connection will suffice.
The second requisite, the shareholder should have a good internet connection. This maybe your mobile data plan or you homely wi-fi.
The third requisite, you should have an email address.
Now you are ready for your unique contribution to corporate democracy and corporate governance.
Firstly check with the company or depository or RTA, whether they have your email address in their record. Please get it updated. The company shall also by way of public advertisement or notice on its website shall inform all shareholders the process to get email address register with the company or RTA.
COMPANIES WITHOUT E VOTING FACILITY
In this part, we will discuss the process the case of companies with less than 1,000 members who are not opting for e-voting facility
The company shall send you notice of an annual general meeting to your email address and by way of public notice.
The annual general meeting shall be convened through video conferencing or other audiovisual modes. The company shall also provide two-way communication facility to at least first 500 members requesting and for other webinars like conferencing facility. In most cases, you do not require two-way communications except where you have really a good question to ask.
After discussion, the company shall send you electronic voting facility by way of an email. You should submit your vote in the manner prescribed.
COMPANIES WITH E VOTING FACILITY
In this part, we will discuss the process the case of companies with 1,000 or more members. These companies are required to provide e-voting facility
The company shall send you notice of an annual general meeting to your email address and by way of public notice.
The annual general meeting shall be convened through video conferencing or other audiovisual modes. The company shall also provide two-way communication facility to at least first 1,000 members requesting and for webinars like conferencing facility. In most cases, you do not require two-way communications except where you have really a good question to ask.
Before the actual date of the meeting, the facility of remote e-voting shall be provided. In this case, a remote e-voting completed before actual meeting. This means a major part of decisions making completed much before the meeting.
Only those members, who are present in the meeting through VC or OAVM facility and have not cast their vote on resolutions through remote e-voting and are otherwise not barred from doing so, shall be allowed to vote through e-voting system or by a show of hands in the meeting.
The chairman present at the meeting shall ensure that the facility of the e-voting system is available for the purpose of voting during the meeting held through VC or OAVM.
Hope you will enjoy exercising your participation in corporate democracy.
AishMGhrana 