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].