In July 2012, The stock market regulator of the country, SEBI mandated that the top 500 listed companies should employ E-voting to facilitate the shareholders participate in key decisions without being physically present in the meetings. The E-voting is carried through an electronic voting system developed by National Securities Depository Limited (NSDL) and CDSL Ventures Ltd (CVL). The system requires no physical collection, no counting of postal ballot papers and eliminated the need for verification of signatures of the participants.
“The immutable nature of blockchain will ensure that every action taken by a network participant is transparent to the regulator. Additionally, the smart contract framework enables synchronisation of the vote count process between the company and the regulator in real time. These features will take us closer to an environment of improved corporate governance and compliance.”
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