Lettes: E-voting - A game-changer?

This refers to the report "E-voting will democratise shareholder participation" (July 7). It has become mandatory for listed firms and companies with a minimum of 1,000 shareholders to go for e-voting, under the new Companies Act that came into effect from April this year. The information about voting sent through mail (courier/India Post) on resolutions to be adopted by a company, is generally ignored by shareholders, even though there is an option for postal ballot. Shareholders' participation in company affairs should be encouraged, and companies should desist from the practice of rewarding a certain section of shareholders who act as yes-men of managements at annual general meetings. Whether e-voting will lead to greater participation from shareholders on voting on company resolutions remains to be seen. The government has at last woken up to provide another option for voting on resolutions - e-voting - apart from the existing options of physical voting and postal ballot. Shareholder participation should be encouraged since attending a company's annual general meeting is a learning exercise.

Deendayal M Lulla Mumbai

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