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TMI BlogThe Companies (passing of the resolution by postal ballot) Rules, 2001 Clarification reg.X X X X Extracts X X X X X X X X Extracts X X X X ..... th 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 provisions of section 192A shall come into f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l 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 Board resolution to the concerned Registrar of Companies for infor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r 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 Newspaper circulating in the State in which the registered office of the company is situated about having d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hrough postal ballot for the business stated in the notice of the Company by sending my/our assent or dissent to the said resolution by placing the tick ( _/ ) mark at the appropriate box below. Item No. No. of shares I/We assent to the resolution I/We dissent to the resolution Place: Date: ________________________ (Signature of the shareholder) Instructions 1. A member desiring to exercise vote by postal ballot may complete this Postal Ballot Form and send it to the company in the attached self-addressed envelope. Postage will be borne and paid by the company. However, envelopes containing postal ballots, if sent by cou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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