Securities and Exchange Board of India (SEBI) gives e-voting power to the share holders. SEBI plans to implement the e-voting process mandatory for the top 500 companies. This would enable the shareholders to participate in key decisions without being physically present in the meetings. A decision was taken to this effect on Tuesday at Mumbai by the market regulator. SEBI plans to extend the same to all listed companies in a phased manner.

"In line with the budget proposal of Hon'ble Finance Minister, to make it mandatory for top listed companies to provide for electronic voting facilities, it has been decided to implement the said proposal by making electronic voting mandatory for all listed companies in respect of those businesses to be transacted through postal ballot. The same would be implemented in a phased manner," the regulator said. SEBI left it to the discretion of the companies to choose the platform provider from the listed four, for making the e-voting a reality.

The market regulator also added that, "Cases wherein the qualifications are significant and explanation given by company is unsatisfactory would be referred to the Financial Reporting Review Board of the Institute of Chartered Accountants of India (ICAI-FRRB).”

A report in First Post discussed the `advantages of e-voting that include accuracy in counting of votes, elimination of postal ballots getting lost in-transit and sufficient time for shareholders to vote till the end of voting cycle. Moreover with a transparent voting system confidence of investors abroad will also rise and FIIs are likely to be more interested in investing in Indian markets'. (With inputs from internet- AW AarKay)