Moneycontrol PRO
you are here: HomeNewsBusiness

Barring a few glitches, TCS AGM — a virtual first in India — more or less smooth

Due to COVID-19, most companies are now moving to virtual AGMs with TCS being the first. Close to 1,300 investors participated in the virtual AGM

June 12, 2020 / 10:40 AM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

For the 81-year-old Bhubaneswar resident, the annual general meeting (AGM) of Tata Consultancy Services (TCS) is an event he marks on his calendar. An investor in India’s biggest IT firm, he has been travelling 1,350 km to Mumbai for the last 20 years to be part of the proceedings.

But this year, instead of packing a suitcase, the octogenarian, who didn't wish to be identified, had to rush to get himself an internet connection to participate in TCS’ 25th AGM held on June 11. The AGM was held virtually, a first for India, as coronavirus outbreak restricts travel, movement of people and big gatherings.

“He got the internet connection just so he can join the AGM,” said Baibhav Mishra, another investor and a neighbour who helped the senior citizen with the process.

For 26-year-old Mishra, it was convenient and a good experience. According to him, virtual AGMs are efficient and save money.

Gaurav Pingle, a company secretary, couldn’t agree more. Describing the experience as sophisticated, he said, “For me, it was like being in physical AGMs.”

Close

COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more
Show

The same, however, cannot be said of the older investors, the majority of whom are not comfortable with technology. Signing up can be task in itself for them.

One has to go to the National Securities Depository's e-voting site and sign in using an ID and a password. After signing in, the investor is taken to the Webex link, where the meeting is hosted.

“While it is fairly a straight forward process, tell me how many people actually remember their ID and password?” asked another investor. “Many would probably give up in the middle.”

While enough time was given to shareholders to ask questions just like in physical AGMs, Sudha Jhunjhunwala tweeted that took a lot of patience from the management to listen to questions due to poor connectivity.

A 55-year-old investor complained that he was unable to ask questions as the connectivity was poor.

These glitches, say experts, are expected, given that it is first such attempt. Pingle was optimistic and said things would get smoother as people will get used to it.

The ‘new normal’ is here.
Swathi Moorthy
first published: Jun 11, 2020 10:32 pm

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark