1. Where a company decides to pass any resolution by postal ballot, it must inform about it to all the shareholders by sending notice, alongwith a draft resolution explaining the reason and requesting them to send their assent within a period of 30 days from the date of posting of the letter.
  2. The notice should sent through the registered post and a postage pre-paid envelope for facilitating the communication of assent or dissent of the shareholder to the resolution with the said period should be annexed.
  3. The board of directors may appoint one scrutinizer. He must not be in the employment of the company. He must be a retired judge or any person of repute who is in the position to conduct the postal ballot voting process.
  4. The scrutinizer will remain at his position for 35 days leaving holidays from the date of the issue of the notice for annual general meeting. He is required to submit his final report on or before the said period.
  5. If resolution is towards a majority of the shareholders by means of postal ballot, It shall be deeded to have been issued at a general meeting.
  6. If a shareholder sends his assent or dissent in writing on a postal Ballot and thereafter any person fraudulently defences or destroys, the ballot paper or declaration of the identity of  shareholder such person shall be punishable with imprisonment for a term which may extend to 6 months or with fine or both.
  7. The scrutinizer will maintain a register to record the consent received, including electronic media, mentioning the particulars of name, address, folio no. nominal value of shares, number of shares, etc, he shall also maintain record for postal ballot which are received in defaced or mutilated form.
  8. The postal ballot and all other paper relating to postal ballot will be under the safe custody of the scrutinizer till the chairman considers, approves and signs the minutes of the meeting.
  9. Thereafter, the scrutinizer shall return the ballot paper and other related materials to the company so as to preserve such ballot papers and other related papers safely till the resolution is given, effect to.
  10. Voting by electronic mode is part of postal ballot.

 

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