India’s first proxy advisory company (PAC) is Institutional Investors Advisory Services ( IIAS). Its founder Mr. Anil Singhvi, has his way, small shareholders may be able to vote at AGMs (Annual General Meetings) sitting in their houses.
Electronic Voting..!
Mr. Anil Singhvi, One of the best financial brains in india said, "Our company IIAS plans to take up the issue of electronic voting (E - Voting) with the regulatory authorities. This will enable smaller shareholders to vote on key corporate resolutions without having to physically attend AGMs. There is no reason why smaller shareholders can not vote on resolutions at the click of a button. Shareholders /Investors must be made aware of resolutions affecting their investments and the voting process must be made easier. Smaller shareholders must have the facility of logging on to a company’s website and voting on resolutions.”
IIAS will start with institutional investors, it will also extend itself to offer its services to small investors thereafter.
Mr.Anil Singhv also said, “ Shareholders particularly small investors must know the power of their vote. If people can elect governments by voting, it is time small shareholders realised they have the power to decide the fate of key resolutions by firms”
Ban on gifts, tea party..!
Recently, the ministry of corporate affairs has proposed to ban companies from serving tea, coffee or snacks to shareholders during AGMs saying refreshments divert the attention of shareholders and prevent them from questioning decisions of the management. The ministry has also suggested a ban on distribution of gifts at AGMs.
In a circular posted on its website inviting comments on the proposal, the ministry says any company violating the guideline will be guilty of misconduct and its board of directors liable for penal action for not convening the AGM as per the Companies Act.
Electronic Voting..!
Mr. Anil Singhvi, One of the best financial brains in india said, "Our company IIAS plans to take up the issue of electronic voting (E - Voting) with the regulatory authorities. This will enable smaller shareholders to vote on key corporate resolutions without having to physically attend AGMs. There is no reason why smaller shareholders can not vote on resolutions at the click of a button. Shareholders /Investors must be made aware of resolutions affecting their investments and the voting process must be made easier. Smaller shareholders must have the facility of logging on to a company’s website and voting on resolutions.”
IIAS will start with institutional investors, it will also extend itself to offer its services to small investors thereafter.
Mr.Anil Singhv also said, “ Shareholders particularly small investors must know the power of their vote. If people can elect governments by voting, it is time small shareholders realised they have the power to decide the fate of key resolutions by firms”
Ban on gifts, tea party..!
Recently, the ministry of corporate affairs has proposed to ban companies from serving tea, coffee or snacks to shareholders during AGMs saying refreshments divert the attention of shareholders and prevent them from questioning decisions of the management. The ministry has also suggested a ban on distribution of gifts at AGMs.
In a circular posted on its website inviting comments on the proposal, the ministry says any company violating the guideline will be guilty of misconduct and its board of directors liable for penal action for not convening the AGM as per the Companies Act.
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