With a view to facilitate seamless authentication and enhance ease and convenience of participating in e-voting, the Securities and Exchange Board of India (“SEBI”) in a recent Circular has decided to enable e-voting to all the demat account holders, by way of a single login credential, through their demat accounts / websites of Depositories / Depository Participants
SEBI has decided to implement the same in 2 Phases. With Phase I to be implemented in 6 months from the date of the circular i.e. 9th June, 2020 and Phase 2 to be implemented within 12 months from the completion of the process in Phase 1.
Features :
1. ESP Portals shall provide specific weblinks to the following: disclosures by the company on the websites of the stock exchanges report on the websites of the proxy advisors.
2. Depositories shall establish a dedicated helpline to resolve technical difficulties faced by shareholders relating to the e-voting facility. Further, the listed company shall ensure that the ESPs engaged by them also provide a dedicated helpline in this regard.
3. The facility will be available to all individual shareholders holding the securities in demat mode.
4. ESPs may continue to provide the facility of e-voting as per the existing process to all physical shareholders and shareholders other than individuals viz. institutions/corporate shareholders.
5. All listed companies are advised to notify the above process available to demat account holders for e-voting in the notice sent to the shareholders.
Source: Securities and Exchange Board of India
