Bajaj Finance Limited, a leading non-banking financial company, has initiated an electronic voting process for the appointment of a new member to its Board of Directors. This move is part of the company’s efforts to promote transparency and efficiency in the corporate governance process.
The e-voting process was initiated after the Company’s Annual General Meeting (AGM) in September 2022, where the shareholders approved the proposal to fill the vacancy in the Board of Directors. As per the Companies Act, 2013, the vacancy needs to be filled within a specified period, and the Company has opted for an e-voting process to ensure timely and transparent appointment of a new Director.
The Company’s Board of Directors has identified a suitable candidate, and the e-voting process is open to all shareholders to cast their votes. The voting period is scheduled from March 6, 2023, to March 13, 2023. Shareholders can vote through the company’s website or by post, and the results of the e-voting will be announced on March 14, 2023.
The e-voting process is available to all shareholders, including equity shareholders, non-equity shareholders, and beneficial owners. The process is designed to ensure that all shareholders have an equal opportunity to participate in the appointment of the new Director.
Bajaj Finance has been recognized for its commitment to corporate governance and transparency, and this e-voting process is another step towards enhancing the Company’s corporate governance practices. The Company’s Board of Directors believes that the e-voting process will facilitate a more informed decision-making process and increase transparency in the appointment of a new Director.
In conclusion, Bajaj Finance’s initiative to initiate an e-voting process for the appointment of a new Board member reflects its commitment to promoting transparency, accountability, and good corporate governance practices. The Company’s decision to offer an e-voting process to its shareholders demonstrates its dedication to engaging with its stakeholders and ensuring that their voices are heard in the decision-making process.