|Consider the following statements about e-voting must for listed firms:|
|1. The Securities and Exchange Board of India (SEBI) made it mandatory for top listed firms to provide electronic voting facilities wherever shareholders are allowed to vote through postal ballot.|
|2. It would be mandated for top 500 listed companies on the BSE and the NSE based on market capitalization. Listed companies may choose anyone of the agencies which is currently providing the e-voting platform. Which of the statements given above is/are correct?|
A) Only 1
B) Only 2
C) Both 1 and 2
D) neither 1 nor 2
Correct Answer: C
Solution :[c] Market regulator Sebi has made it mandatory for top 500 listed companies to provide e-voting or electronic voting facility for shareholders to participate in key business resolutions. SEBI said that in order to widen the participation in important proposals it has been decided to "mandate" the listed companies to enable e-voting facility also to their shareholders, in respect of those businesses which are transacted through postal ballot of listed companies. To begin with, this requirement shall be applicable to top 500 listed entities at BSE and NSE, chosen based on the market capitalisation computed as on the date. Listed companies should choose any one of the agencies, which are currently providing e voting platform for this purpose. At present, both the Depositories - Central Depository Services (India) Ltd and National Securities Depository Ltd - are providing e-voting platform. Currently listed companies conduct businesses by way of postal ballot.
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