E-voting available for shareholders
Allies Fin Serve
E-voting available for shareholders
| Salman Khurshid inaugurates revamped BSE Web site. |
Mr Salman Khurshid, Minister of Corporate Affairs, and Mr Madhu Kannan, MD and CEO of BSE, at the launch of the e-Voting System for Corporates at the BSE on Tuesday. –
Our Bureau
Mumbai, Nov. 17 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.
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 ( www.evotingindia.com) and log on using their demat account number and permanent account number (PAN) and password. 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.
Mr Khurshid also announced that the year 2010 will be celebrated as the ‘year of the investor’ where various activites such as seminars , workshops would be organised for ‘Greater Investor Participation and Protection’; one week in December would be celebrated as ‘Corporate Week’.
Mr Khurshid also inaugurated the revamped Bombay Stock Exchange Web site, which has additional investor-friendly features such as ‘live streaming quotes for Sensex companies’.
With live streaming quotes for Sensex companies one can view, on a real-time basis, the best bid and ask quotes and stock price movements for each of the index stocks.
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