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\-[To be published in the Gazette oflndia, Extraordinary, Part Il, Section 3' Sub-section (i)]

GOVERNMENT OF INDIAMINISTRY OF CORPORATE AFFAIRS

NOTIFICATION

New Delhi, the I 9t March, 20 I 5

G.s.R.

-(E).-

ln exercise of the powers confened by section 108 read with sub-sections (l)

and (2) of section 469 of the Companies Acl,2013 (18 of2013), the Central Govemment hereby

makes the following rules fiuther to arnend the Compani€s (Management and Administration)

Rules. 2014, namely:

l. (l) These rules may be called the Companies (Management and Administration) Amendment

Rules. 2015.

(2) They shall come into force on the date oftheir publication in the Official Gazette'

2. In the Companies (Management and Administation) Rules, 2014, for rule 20' the following

rule shall be substituted, namely:-

"20. votirg ahough electronic means.- (1) The provisions of this rule shall apply in respect ofthe

general m€etings for which notices are issued on or after the dale ofcommencemenl ofthis rule'

(2) Every company other than a company refered to in Chapter XB or Chapter XC ofthe Securities

and Exchange Board of India (tssue of Capital and Disclosure Requirements) Regulations' 2009

having its equity shares listed on a recognised stock exchange or a company having not less than

one thousand members, shall provide to its members facility to exercise their right to vote on

resolutions proposed to be considercd at general meetings by electronic means'

Explanation.- F or ihe purposes of this rule' the expression-

(i) "agency" means the National Securities Depository Limited' the Central Depository Services

(lndia) Limited or any other entity approved by the Ministry of Corporate Affairs subject to the

condition that the National securities Depository Limited, the cental Depository services (tndia)

Limited or such other entity has obtained a certificate from the standardisation Testing and Quality

Certification Directorate, Department of lnformation Technology' Ministry ofCommunications and

Infomation Techrology, Govemment of lndia including with regard to compliance with

paraneteN specified under Explanation (vi);

_ t'-t

(ii) ,,cut-off date,, means a date not earlier than seven days before the date of general meeting for

detemining the eligibility to vote by electronic means or in the general meeting;

(iii) "cyber security" means protecting information, equipment, devices' computer' computer

resource, communication device and information stored therein liom unauthorised access, use,

disclosures, disruption. modifi cation or destructionl

(iv) ,,electronic voting system" means a secured system based process of display of electronic

ballots, recording of votes of the membe$ and the number of votes polled in favour or against' in

such a manner that the entire voting exercised by way of electronic means gets registered and

counted in an elechonic registry in a centralised server with adequate cyber secuflty;

(v) "remote e-voting" means the facility of casting votes by a member using an electronic voting

system from a place other than venue ofa general meeting;

(vi) "secured system" means computer hardware, software, and procedue that

(a) are reasonably secure fiom unauthorised access and misuse;

(b) provide a reasonable level of reliability and corect operationi

(c) are reasonably suited to performing the intended functions; and

(d) adhere to generally accepted security procedures;

(vii),,voting by electronic means" includes "remote e-voting" and voting at the general meeting

through an electronic voting system which may be the same as used fot remote e-voting

(3) A member may exercise his right to vote through voting by electronic means oII resolutions

referred to in sub-rule (2) and the company shall pass such resolutions in accordance with the

provisions of this rule.

(4) A company which provides the facility to its membeN to exercise voting by electronic means

shall comply with the following procedure, namely:-

(i) the notice of the meeting shall be sent to all the members' directors and auditors of the

company either -

(a) by registered post or speed post ; or

(b) through electronic means, namely, rcgistered e-mail lD ofthe recipient; or

(c) by courier service;

-\-

(ii) the notice shall also be placed on the website, ifany, ofthe company and ofthe agency

forthwith afier it is sent to the members;

(iii) the notic€ ofthe meeting shall clearly state -

(A) that the company is providing facility for voting by electonic means and the business

may be transacted through such voting;

(B) that the facility for voting, either through el€ctronic voting systern or ballot or polling

paper shall also be made available at the meeting and members attending the meeting who

have not already cast their vote by remote e-voting shall be able to exercise their right at the

m€eting;

(c)thatthemembelswhohavecasttheirvotebylemotee-votingportothemeetingmay

also anend lhe mee(ing but shall not be entitled to cast their vote againi

(iv) the notice shall -

(A) indicate the process and manner for voting by electronic means ;

(B) indicate the time schedule including the time period during which the votes may be cast

by remote e-votmgi

(C) provide the details about the login lD;

(D) specify the process and manner for generating or receiving the password and for casting

ofvote in a secure manner.

(v) the cornpany shall cause a public notice by way of an advefiisement to be published'

immediately on completion of despatch of notices for the meeting undel clause (i) of sub-rule (4)

but at least twenty-one days before the date of general meeting' at least once in a vemacular

newspaper in the principal vernacular language of the district in which the registered office ofthe

company is situated, and having a wide circulation in that district' and at least once in English

language in an English newspaper having country-wide circulation' and specifling in the said

advertisemenl, irler a/ia. the following maners namel) :-

(a)statementthatthebusinessmaybetransactedthloughvotingbyelectronicmeans;

(b) the date and time of commencement of remote e-votlng;

(c) the date and time of end of remote e-voting;

(d) cut-offdate;

(e) the manner in which persons who have acquired shares and become members ofthe company

after lhe despatch ofnotice may obtain the login ID and passwordl

-3-

(f) the statement that -

(A) remote e-voting shall not be allowed beyond the said dat€ and time;

(B) the manner in which the company shall provide for voting by members present at the

meeting; and

(C) a member may participate in the general meeting even affer exercising his right to vote

through .emote e-voting but shall not be allowed to vote again in the meeting; alld

(D) a person whose name is recordcd in the register of members or in the register of

beneficial owners maintained by the depositories as on the cut-off date only shall be

entitled to avail the facility ofremote e-voting as well as voting in the general meeting;

(g) website address ofthe company, if any, and of the agency where notice of the meeting is

displayed; and

(h) name, designation, address, email id and phone number of the person responsible to address

the grievances connected with facility for voting by electronic means:

Provided that the public notice shall be placed on the website ofthe company, ifany, and of

lne agency;

(vi) the facility for remote e-voting shall remain open for not less than thee days and shall close at

5.00 p.m. on the date Feceding the date offie general meeting;

(vii) during the period when facility for remote e-voting is provided, the members of the company'

holding shares either in physical form or in dematerialised form, as on the cut-offdate' may opt for

remote e-voung:

Provided that once the vote on a resolution is cast by the member' he shall not be allowed to

change il subsequently or cast the vote againl

Provided further that a member may participate in the general meeting even after exercising

his dght to vote through remote e-voting but shall not be allowed to votc again;

(viii) at the end ofthe rcmote e-voting pcriod, the facilily shall forthwith be blocked:

Provided ahat if a company opts to provide the same elechonic voting system as used during

remote e-voting during the general meeting, the said facility shall be in operation till all the

resolutions arc considercd and voted upon in the meeting and may be used for voting only by the

members attending the meeting and who have not exercised their right to vote through remote e-

voting-

(ix) the Board ofDirectors shall appoint one or more scrutiniset, who may be Chartercd Accountant

in practice, Cost Accountant in pmctice, or Company Secretary in practice or an Advocate' or any

other person who is not in employment of the company and is a person of repute who' in the

opinionoftheBoardcanscrutinisethevotingandlemotee-votingprocessinat.airandtransparent

mann€r:

Provided that the scrutiniser so appointed may take assistance of a person who is not in

employment ofthe company and who is well-versed with the electronic voting system;

(x) the scrutiniser shall be willing to be appointed and be available for the purpose of ascertaining

the requisite majority;

(xi) the Chairman shall, at the general meeting. at the end ofdiscussion on th€ resolutions on which

voting is to be held, allow votin& as ptovided in clauses (a) to (h) of sub-rule (l) of rule 21' as

applicable, with the assistance of scrutiniser' by use of ballot or polling paper or by using an

electronic voting system for all those members who are present at the general meeting but have not

cast their votes by availing the remote e-voting facility'

(xii) the scrutiniser shall, immediately after the conclusion ofvoting at the general meeting, first

count the votes cast at the meeting, thereafter unblock the votes cast through remote e-voting in the

presenoe of at least two witnesses not in the employment of the company and make' not later than

three days ofconclusion ofthe meeting' a consolidated scrutiniser's repoft ofthe total votes cast ln

favour or against, if any, to the Chairrnan or a person authorised by him in wdting who shall

countersign the same:

Provided that the Chairman or a person authorised by him in writing shall declare the result of

the voting forthwith;

Explanation.- lt is heGby clarified that the manner in which membe$ have cast their vot€s' that is'

affrrming or negating the resolution, shall remain secret and not available to the Chairman'

Scrutiniser or any other person till the voles are cast in the meeting'

(xiii) For th€ pupose of ensudng that members who have cast their votes through remote e-votlng

do not vote again at the general meeting, the scrutiniser shall have access' after the closure ofperiod

for remote e-voting and before the start of general meeting, to details relating to members' such as

their names, folios, number of shares held and such other information that the scrutiniser may

require, who have cast votes through remote e-voting but not the manner in which they have cast

their votes:

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(xiv) the scrutiniser shall maintain a register either manually or electronically to rccord the assent

or dissent received, mentioning the particulars of name, address, folio number or client ID of the

members, number of shares held by them, nominal value of such shares and whether the shares

have differential voting rights;

(xv) the register and all other papers relating to voting by electronic means shall remain in the safe

custody of the squtiniser until the Chairman considers, approves and signs the minutes and

thereaffer, the scrutiniser shall hand over the register and other related papers to the company.

(xvi) the results declared along with the report ofthe scrutiniser shall be placed on the website of

the company, if any, and on the website of the agency immediately after the result is declared by

the Cbairman :

Provided that in case of companies whose equity shares are listed on a recognised stock

exchange, the company shall, simultaneously, forward the results to the concemed stock exchange

or exchanges where its equity shares are listed and such stock exchange or exchanges shall place

the rcsults on its or their website.

(xvii) subject to receipt of requisite number of votes, the resolution shall be deemed to be passed

on the date ofthe relevant general meeting.

Explanation.- For the purposes of this clause, the requisite number of votes shall be the votes

required to pass the resolution as the'ordinary resolution'or the'special resolution', as the case

may be, under seclion I l4 ofthe Act.

(xviii) a resolution proposed to be considered through voting by electonic means shall not be

withdrawn."

IF. No. 0l/3412013-CL-V- Part-U

AMARDEEP S. BHATIA, Joint Sccr€tary

Note.-The principal rules were published in the Gazette oflndia, Extraordinary, Part II, Section 3,

Sub-section (i), vide number G.S,R.260(E), dated the 3l$ March,2014 and subsequently amended 6lride number G.S.R.415(E), dated the 23'd June,2014 and vr'.de number G.S.R 537(E), dated the -/L-

24th Juty,2014.

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