The corporate organization election through e-voting platform makes use of digital infrastructure designed to ease the burden on companies that are also planning to prepare for shareholders' meetings. The shareholders have invested in these companies wholeheartedly, and they have the right to make important decisions.

It allows corporate action by the shareholders to vote in digital form conveniently from their homes and offices electronically on various resolutions laid down during a company’s general body meeting. These organizations consistently hold at least one annual meeting with the shareholders, which is called the Annual General Meeting (AGM), where each investor is given the right to cast their vote on the agendas of the AGM. In AGMs, it is obligatory for publicly listed organizations to enlist a shareholder e-voting platform, thus facilitating their vote on important agendas.

Useful Data on Corporate Organisation Election

There are around 5500 registered corporate organizations in India and 2.5 crore demat account holders. Large numbers of these organizations have lakhs of shareholders. For example, Reliance Industries Limited has over 20 lakh shareholders.

As AGMs of the organization are held in urban areas like Mumbai or Delhi, the shareholders are situated all over the nation and the world. In this situation, it becomes tough to provide the opportunity for every shareholder to vote. It is necessary to provide the online voting system platform to the shareholders so that they can use their right to vote.

The e-voting platform becomes the need of the hour for every organization. Aside from India, various other nations have effectively incorporated the use of online election software . Considering governments across the world are making e-voting compulsory, it is evidence of the acknowledgement of online voting and a marker of how elections in different areas, including political elections and online opinion polls, would develop. This is a revolution in the form of having election management in the hands of contestants.

Functioning Of Online Voting Platform For Shareholders

If you are unaware of the functioning of e-poll, let's discuss it here:

1. Purpose of Shareholder Voting

Voters can participate in giving their feedback and making key decisions by casting their votes electronically. This can be done regardless of the number of shares they hold. They also don't need to be physically present at the meeting location to cast their vote.

2. Replacing the ballot paper

This process of online voting system replaces the traditional postal ballot system. It is safe as the paper could be tampered with in olden times. The time frame of the online ballot paper remains open for a limited time frame like a day or 15 days. It is enough time to make a fair decision and vote for the company.

3. Sending Notification

Shareholders of a particular company receive an email or notification about the AGM on their digital platform. It also includes the voting period and the message related to OTP authentication.

4. Login and response

The shareholder is a prime member who has the right to make certain decisions. They must click on the link sent to them, visit the e-voting website (such as NSDL or CDSL), and log in using their user ID, password, and verification code.

5. E-voting

They are privileged owners of the company’s shares. The New Companies Act 2013 states that every registered organization that has a number of shareholders exceeding 1000 must provide an e-voting platform to discuss and vote on matters like director appointments, auditors, and remuneration.

Some More Facilities for Online Voting Platforms

Aside from AGM, organizations call EGM (Extraordinary General Meetings) where extra-common things like consolidation, obtaining, or evacuation of the chief which require shareholder permission, are voted upon.

Pollbag is an online voting platform that gives shareholders the freedom of mobile voting technology. Only the use of the internet and their digital devices is the connection between the shareholders choice and the company. It also helps those shareholders who are unable to afford the expense of travelling to the location where the AGM is being held. So, no physical attendance of the shareholder is a benefit for the company to make arrangements for the food and beverages also. In the long run it is cost efficient and easy to conduct procedures for all AGM’s.

Take Away

PollBag, the online e-voting software , is a highly experienced and finest platform to handle more than 600 types of voting types. They bring up the mobile technology of voting from any place of your place of stay. PollBag gives its customers a 30-day free trial. Hurry up! And resolve all the voting issues before passing resolutions. T&C applied.*