Summary |
The concept of obtaining the consent of the Members of a company by voting by Postal Ballot has been introduced in the Companies Act, 1956, (hereinafter referred to as “the Act”) by the Companies (Amendment) Act, 2000, by inserting a new Section 192A in the Act. The Central Government notified Rules, known as the Companies (Passing of the Resolution by Postal Ballot) Rules, 2001, (hereinafter referred to as “Rules”) on 10th May 2001 and these Rules came into effect from 15th June 2001, being the data on which the said Section also came into force. Thereafter, the Central Government issued a General Circular No. 16/2001 dated 24th July 2001 setting out its views on various points raised in connection with the concept of Postal Ballot. The Companies (Passing of the Resolution by Postal Ballot) (Amendment) Rules, 2001, which came into force from 11th October 2001, have clarified several issues arising out of the Rules. The aforesaid Section, Rules and Circular form the basis for this Guidance Note.
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