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Judgment
Ch. Mohd. Sharief Tariq, J
Under consideration is MA/949/2019 passed in CA's/804 & 805/CAA/2019. The prayers made in the present application are as follows;
a). Inclusion of Rule 22 of Companies (management and Administration), Rules, 2014 for providing Postal Ballot facility in pursuant to Section 230(6) of the Companies, Act, 2013
b). Enlargement of Dates for providing E-voting facility as per the Postal ballot Rules to 30 (thirty) days.
c). Extending dispatch of Notice by way of physical means to physically held shares in addition to dispatch of notice electronically.
This Bench, vide order dated 28.08.2019 has directed the Transferor Company to conduct the meeting of the Shareholders on 21.10.2019, in relation to the Scheme of Demerger. The Transferor Company was directed to make available the facility for E - voting as prescribed under Rule 20 of the Companies (Management and Administration) Rules, 2014.
The Representative for the Applicant submitted that Sec. 230(6) of the Companies Act, 2013 prescribes voting of members by means of postal ballot and hence prayed that the Transferor Company may be permitted to conduct the voting of the Shareholder also by means of Postal Ballot as per Rule 22 of the Companies (Management and Administration) Rules, 2014.
Therefore, the prayer made by the Transferor Company is allowed. The Transferor Company is permitted to conduct the voting of the Shareholders through Postal Ballot as per Rule 22 of the Companies (Management and Administration) Rules, 2014. The date for providing E - voting facility as per the Postal Ballot Rules is enlarged upto the period of 30 (thirty) days, as prayed for. The Transferor Company is also permitted to effect the service of notice to the Shareholders either by way of physical or/and by electronic means.
Accordingly, the order dated 28.08.2019 stands modified and the MA/949/2019 stands disposed of.