Section 192A of the Companies Act, 1956 provides
for passing certain resolutions by postal ballot. The Companies (Passing of the
Resolution by Postal Ballot) Rules, 2001 were issued by Notification No. 337(E)
dated 10-5-2001 (31 SCL 31). The postal ballot rules are applicable to a listed
public company and to any resolution related to the following businesses which
can be otherwise transacted in a general meeting of a company:
-
Alteration of object clause of Memorandum.
-
Alteration of Articles for insertion of provision defining private company.
-
Buy-back of own shares by a company [section 77A(1)].
-
Issue
of shares with differential voting rights as to voting or dividend or
otherwise [section 86(a)(ii)]
-
Change
in place of registered office outside local limits [section 146(2)]
-
Sale of
whole or substantially the whole of an undertaking of a company [section
293(1)(a)]
-
Giving
loans or extending guarantee or providing security in excess of limits
[section 372A(1)]
-
Election of directors [section 252(1)(proviso)]
-
Variation in rights attached to a class of shares/debentures or other
securities [section 106].
