The Companies (passing of the resolution by postal ballot) Rules, 2001 Clarification reg.

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....dment) Act, 2000 which came into force with effect from 13^th December, 2000. The provisions of the section give all listed companies an option of passing shareholder's resolution through postal ballot. Further, they are necessarily required to get certain businesses as notified by the Central Government vide notification number GSR.337 (E) dated 10^th May, 2001 to be passed through postal ballot. The Companies (passing of the resolution by postal ballot) Rules, 2001 which were notified on 10^th May, 2001 mention transactions to be transacted through postal ballot. Pursuant to section 2 of the Companies (Amendment) Act, 2000 a notification number S.O.523(E) dated 15^th June, 2001 was published indicating the date from which  the pro....

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....al ballot) Rules, 2001  and the instructions at serial number 5 of the specimen postal ballot form. 5. It is clarified that voting right on postal ballot shall be in proportion to the shareholders share of the paid up equity share capital of the company. 6. The company secretary along with one of the functional directors should be made responsible for the entire postal ballot process by means of an appropriate board resolution. The resolution should be passed in the Board Meeting in which notice required to be sent to the shareholder under section 192A (2) is approved by the Board. A copy of the board resolution should be despatched alongwith item to be included in the calendar of events within one week of passing of the Boa....

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.... before the date of the general meeting. This will enable the scrutinizer to be in a position to make an entry in the appropriate register maintained for the purpose and make it available to the Chairman of the general meeting who shall declare the results in the general meeting. The date of passing of the resolution will be the date of the General Meeting. 9. The Department is separately taking following actions for amending the Companies (passing of the resolution by postal ballot) Rules, 2001: -      (i) Insert new Rule 2A as under : "The notices may be issued by the Companies under certificate of posting and an advertisement shall be published in a leading English Newspaper and in one vernacular Ne....

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....bsp;                                    ______________________________             (including joint holders, if any)                 ______________________________ 2.         Registered address of the sole/first named shareholder 3.         Registered folio No./DP ID No./Client ID No.*             (* A....

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.... Duly completed Postal Ballot Form should reach the company not later than the close of working hours on ----------- (day)------------- (date). Postal Ballot Form received after this date will be strictly treated as if the reply from the member has not been received. 6. Voting rights shall be reckoned on the paid up value of shares registered in the name of the shareholders on the date of despatch of the notice. Items to be included in the calendar of events 1. Date of Despatch of notice of Meeting in which the business as notified by the Central Government will also be transacted through Postal Ballot.     2. Date of completion of despatch of notice along with Postal Ballot. 3. Date of appointment of....