Why eGavel Board?

Finteglaw provides complete Board Governance Software for complete automation of Board Management, Board Governance, and scheduling of Board and Committee meetings. A host of facilities have been built into this Board Management Software, adding value to total compliance with all laws relating to Board. It gives total comfort to the Board of Directors and the top management.

The Companies Act, 2013 has adopted a Governance based approach in conducting the affairs of the company. Under Section 134 (5)(e) in the case of a listed company, the Directors Responsibility Statement shall include a declaration from Director that Internal Financial Controls (IFC) to be followed by the company and that such IFCs are adequate and were operating effectively. Section 143 (3) (i) requires the auditor’s report to state whether the company has adequate internal financial control system in place and the operating effectiveness of such controls. According to Section 177 (4) (vii), the Audit Committee shall act in accordance with the terms of reference specified in writing by the Board pertaining to evaluation of IFC. Section 177(5) requires the Audit Committee to call for the comments of the Auditors about the IFC before submission to the Board. Section 149(8) read with Schedule IV of the Companies Act 2013, puts the onus on Independent Directors to ensure that the financial controls and risk management systems are robust and defensible.

Implementation

Stage 1: Finteglaw analyses and enlists the existing Board Procedures of the client company, the employee hierarchy and the approval process relating to Board and Committee meetings

Stage 2: Integration with the employee data base and the active directory.

Stage 3: Integration with the existing database management systems of the client company.

Stage 4: Integration with the existing VC systems of the client company

Features for Directors

• Directors’ Homepage

• Personal requirements of each Director captured

• Facilities management customised for each Director

• Chairman’s module for conduct of meetings.

• Electronic repository of Board documents with keyword search.

• 24x7 access to Board records, for Directors.

• Calendar for Directors with alert mechanism.

• eAttendance, Quorum validation, m aintenance of attendance and sitting fee records.

• Compliance with Listing Agreement and Board Governance.

• Smartphone friendly responsive web access.

Features for the CS

• Automated meeting scheduler with alerts and reminders.

• Electronic Agenda items.

• Resolution templates and auto population of draft minutes.

• Auto population of standard Agenda items.

• Online approval of Agenda items.

• Embedded video recording on the softcopy of minutes.

• Passing of resolution by circulation.

• Postal ballot facility for unlisted companies.

• Online library of all relevant laws with keyword search.

• Real-time MIS on Board statistics, Agendawise time allocation, sitting fee etc. enabling peer review.

Benefits of eGavel Board

Time Value: eGavel totally automates Board Meetings. Foolproof meeting organizer and timely completion of regulatory compliance

Adding Efficiency to CS: It enables checking of the convenience of Directors and enables all facilities for Directors like accommodation, travel etc.

Online Access:It provide facility of priting, photocopying,indexing, binding, and courier obivated. 24x7 instant access for all concerned.

Zero Cost of Non Compliance: Statistics across the globe have proved that the cost of compliance is always cheaper than the cost of non compliance. Effective, organised and systematic Board related complaince facilities provided by eGavel Baord de-risks the enterprise from foreseeable vulnerabilities.

Embedded Video Conferencing: It facilitates video conferencing. The recordings form part of the minutes, in compliance with the Companies Act 2013.

Stock Exchange Filings: enables Board related compliance with Listing Agreement, SEBI PIT Regulations and SEBI SAST Regulations.

Compliance Standardisation

eGavel Board works in tandem with the enterprise standardisations, including ISO. The processes and outputs can be customised to suit internal standard operating procedures.

Enterprise Valuation

eGavel Board causes the enterprise to be governance oriented, clean and free from regulatory issues. The Board decisions are effectively percolated to the next layer for effective implementation. A well governed Board eventually enhances enterprise valuations.