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The mandatory e-voting facility for all businesses to be transacted at general meetings should be applicable only from April 1 next year, Confederation of Indian Industry (CII) has suggested.
Corporates would get a huge relief if they are allowed a one year cooling period for implementing this norm, the chamber said in a representation to the Corporate Affairs Ministry.
The apex industry chamber has made a slew of suggestions on the new company law and the rules notified for implementation of this legislation.
The new legal framework — applicable from April 1, 2014 — requires listed companies or companies having 1,000 or more shareholders to provide for e-voting in respect of businesses to be transacted in general meetings.
Seeks clarification CII has urged the ministry to clarify whether all voting via electronic mode would be held as conclusive evidence in any court of law in India.
This would encourage companies to use e-voting and, thereby, contribute to implementing the Corporate Affairs Ministry’s green initiatives, the chamber said.
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