Shareholders play a very crucial role in varied important decisions taken by the organization in which they have invested. These shareholders have a right to participate in important decisions of the organization. Thus, organizations consistently hold at least one annual meet with the shareholders which is called the Annual General Meeting (AGM) where each investor is given the right to cast their vote on concerned agendas of the AGM. In AGMs, it is obligatory for public listed organisations to enlist an e-voting platform thus facilitating its shareholders to cast their vote on important agendas.
Aside from AGM, organizations call EGM (Extraordinary General Meetings) where extra-common things like (consolidation/obtaining/evacuation of the chief) which require shareholders permission is voted upon.
Let’s learn more about the evoting for shareholders voting.
Generally, by voting, we mean the right to give a single vote to one of the nominated candidates. Unlike these types of voting, shareholders voting is unique as the number of votes of an individual is determined by the number of shares he is holding. Assuming an individual has 100 shares of the organization, then he has 100 votes.
In India, according to the New Companies Act 2013, every registered organization and all organizations that have over 1000 shareholders need to give eVoting privileges to their shareholders. There are around 5500 registered organizations in India and 2.5 Crore, Demat account holders. Large numbers of these organizations have lakhs of shareholders. Reliance Industries Limited has over 20 lakh shareholders.
As AGMs of the organization are held in urban areas like Mumbai or Delhi however the shareholders are situated all over the nation and the world. In this situation, it becomes tough to provide the opportunity to every shareholder to vote. It is necessary to provide the evoting platform to the shareholders so that they can use their right to vote
Evoting platform becomes the need of an hour for every organization. In this area PollBag, the online voting platform has come up with mobile voting technology. PollBag provides the facility to cast vote from anywhere just with help of the internet. It allows the minority shareholders to participate in the voting procedures. It helps those shareholders also who are unable to afford the expenditure of travelling to the location where the AGM is being held.
Aside from India, various other nations have effectively made the evoting for shareholder voting compulsory. Considering governments across the world are making eVoting compulsory. It is evidence of the acknowledgement of online voting and is a marker of how elections in different areas including political elections would develop.
PollBag, the online voting platform is the experienced and finest platform that brings up the mobile technology of voting from any place of your convenience. PollBag gives its customers 30 days free trial. Hurry up! And resolve all the voting issues before passing resolutions. T&C applied.*