Online Voting System for Shareholders in India
The 2 Leading depositories in India NSDL (National Securities Depositary) & CDSL (Central Depositary Services) are planning to launch online voting system for shareholders to vote in corporate decisions in place of postal ballots.
So now, for the shareholders, the Voting is just a clock away. Online Voting system for shareholders is a very common feature in developed countries such as US, Japan and South Korea. By this system, the investors who hold physical or demat shares can vote online.
Very soon the investors will be able to vote on corporate proposals through the click of a mouse without having to worry weather their response reached the company or not.
This Online voting platform will be launched in India before the end of 2009.
Here are some Key Features of this System -
- New platform to replace the practice of seeking shareholder consent through the postal ballot.
- India’s two depositories are NSDL and CDSL
- Move is aimed at enhancing corporate governance and increasing shareholder participation
- The postal ballot system has not seen an encouraging response
- For corporates, the e-platform will help reduce costs.
Thus, in the future, it will be very very easy to cast your share votes in any company decisions as a shareholder. Right now, they are sending you as a post. That you have to fill and again post back to the company. But now, you can simply vote online. Everything will be digital so no need to worry about anything.
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