Companies – Shareholders Meeting - Video Conference
THE Ministry of Corporate Affairs had in June 2011, instructed that "in respect of shareholders meetings to be held during the financial year 2011-12, video conferencing facility for shareholders is optional. Thereafter, it is mandatory for all listed companies."
Now the Ministry clarifies that the mandatory requirement for holding shareholders meetings through video conferencing shall continue to be optional for listed companies for the subsequent years too .
The Ministry has further directed that "for e-voting in general meetings, any agency providing electronic platform for e-voting is required to obtain certificate from Standardization Testing and Quality Certification (STQC) Directorate, Department of Information Technology, Ministry of Communication and IT, Government of India, New Delhi."
It is further clarified that the Ministry shall not authorize any agency for the purpose of providing video conferencing facilities by the corporate sector.
MCA General Circular No. , Dated: December 27, 2011