Market regulator Sebi today decided to make it mandatory for top 500 listed companies to facilitate e-voting, making it easier for shareholders to participate in key decisions without being physically present in the meetings.
"In line with the budget proposal...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...in respect of those businesses to be transacted through postal ballot," Sebi said in a statement after its board meeting here.
It said the decision would be implemented in a phased manner, beginning with "top 500 listed companies at BSE and NSE based on market capitalisation. Listed companies may choose any one of the agency which is currently providing the e-voting platform".
Besides, the Securities and Exchange Board of India (Sebi) said that in order to enhance the quality of financial reporting done by listed entities it would