AGM Electronic mode Compliance Checklist – Listed Companies

The use of electric modes has taken on a central role in the quickly changing corporate sustainability landscape. For Listed Company, adopting the AGM (Annual General Meeting) Electric Mode represents not just a strategic choice but also an innovation and dedication to environmental responsibility. This blog presents a thorough AGM Electronic mode Compliance Checklist that gives these companies the tools they need to successfully handle this transformative journey.

Table of Content

Meaning of Annual General Meeting

AGM stands for “Annual General Meeting.” According to legal regulations and company bylaws, public companies and organizations are required to conduct an annual meeting. Shareholders, executives, and other stakeholders convene at the AGM Electronic mode Compliance Checklist to discuss and make decisions regarding the company’s financial performance, corporate governance, and strategic direction.

A typical AGM as per Companies Act, 2013includes a review of the company’s financial statements, the election or reappointment of board members, the appointment of auditors, a discussion of dividend payments, a response to shareholder concerns, and an update on the company’s status and future plans.

Compliance Checklist for AGM in Electric Mode for Listed Company

When a listed company is transitioning to an electric mode for conducting its Annual General Meeting (AGM), there are several key steps and considerations of AGM Compliance for Listed Companies such as:

• Board meeting need to be conducted.
• The deadline for deciding who should receive notice is Friday, prior to the Board meeting for conducting the AGM.
• The cut-off date for E-voting should be the Friday before the AGM, but no sooner than 7 days before the AGM.
• Create a draft calendar of events and confirm dates with the RTA.
• Prepare the Annual Report and finalised sent for printing
• After that finalise the Calendar of Events along with the website link of Annual Report sent to RTA after Generate EVSN for CDSL and EVEN for NSDL (Please check the Details for EVSN/EVEN Generation specially name of Scrutinizer and cut-off date)
• RTA dispatch the Annual report to Shareholders and The Company should also keep the proof of sending the physical copy and Annual Report should be uploaded on Stock Exchange and Website
• Newspaper Publication of Notice of AGM after dispatch. Please make ensure that the date of book closure for AGM should be inserted in the Newspaper Publication and upload on stock exchange
• The Company shall cooperate with Panellists for AGM attendance and confirm receipt of the LINK for electronic meetings before AGM.
• Before AGM, we should take the LOGIN ID AND PASSWORD from Depository to validate member attendance and login your ID at AGM for quorum confirmation.
• We should obtain the 2nd ROM and BENPOS for E-voting cut-off date before 4 days from AGM. We should check the number of resolutions on the shareholder login portal for e-voting. Number of resolutions should match AGM Notice.
• We should make sure the company chairperson is at the AGM Electronic mode Compliance Checklist , not appoint one.
• If the company chairperson is absent, shareholders can appoint one We should make sure the chairperson is engaged in the resolution and pick another chairperson.
• After Minimum Member and Panellist Attendance, we should commence AGM. The Audit Committee Chair, Stakeholders Relationship Committee Chair, Auditor, and Scrutinizer should attend AGM.
• After the AGM, the Scrutinizer unblocks the votes, downloads them, and records the time.
• Attendance sheet retrieved from depository and Voting sheet downloaded through Scrutinizer Login should be kept. We should prepare the summary, voting results, and Scrutinizer Report from these.

Points to be considered in Board Meeting before conducting AGM

Following points to be discussed in board meeting for pre – AGM Compliance for Listed Companies:

• Discuss and finalize the agenda for the upcoming AGM, ensuring it covers all required topics, resolutions, and presentations.
• Review and approve the AGM materials, including financial reports, director nominations, auditor appointments, and other relevant documents to be shared with shareholders.
• Appoint a chairperson for the AGM who will preside over the meeting, guide discussions, and ensure orderly proceedings.
• Discuss and ensure that the technical setup for conducting the AGM in electric mode is in place, including video conferencing, live streaming, and voting mechanisms.
• Review the communication strategy for informing shareholders about the transition to electric mode and provide instructions for their participation.
• Discuss methods for proxy voting, allowing shareholders to vote on resolutions remotely.
• Address ways to encourage shareholder engagement through electronic means, such as submitting questions in advance.
• Ensure that all technical aspects of the electric AGM, including video conferencing platforms and voting systems, have been thoroughly tested and are functioning correctly.
• Conduct a rehearsal or mock AGM to familiarize participants with the virtual proceedings.
• Discuss measures to maintain the security and confidentiality of the AGM proceedings and shareholder information during the virtual meeting.
• Review legal and regulatory requirements for conducting AGMs in electric mode and ensure that the company is in full compliance.
• Plan how questions from shareholders will be addressed during the AGM, including mechanisms for submitting questions in real-time.
• Discuss the availability of technical support during the AGM to assist shareholders with any connectivity or platform-related issues.
• Outline the steps to be taken after the AGM, including the distribution of minutes, voting results, and addressing any outstanding matters.
• Develop contingency plans to address any unexpected technical glitches or disruptions that may arise during the virtual AG
• If there are presentations or reports to be delivered during the AGM, ensure that presenters are briefed and prepared for the virtual format.

Conclusion

Accepting AGM Electronic mode Compliance Checklist like a good move for businesses as people around the world call for more eco-friendly actions. By following the provided compliance checklist, businesses can make a smooth transition to a greener, more sustainable future and can become stars in their field. The combination of electric modes and AGMs shows how well progress, responsibility, and caring about the world can work together.