Insolvency and Bankruptcy Code (IBC) 2016, requires the RP (Resolution professional / Interim Resolution Professional /Insolvency Resolution Professional) to provide e-Voting (Electronic Voting / Online Voting / Mobile Voting) facilities to creditors. There are few companies which provide e-Voting service, but Right2Vote Infotech Private Limited’s online voting platform stands out because the company is a focused online voting technology company and gives lot of importance to customer experience, ease of use, accuracy, transparency and security.
Right2Vote’s online voting platform is superior to any other platform due to following reasons:
1. Voter turnout: Right2Vote has been able to regularly manage voter turnout of 80% plus while most of the other platform struggle to manage 20-50% voting. Such higher voter turnout percentage has been made possible due to Right2Vote’s focus on ease of use and customer experience. Right2Vote is able to achieve this due to:
a. Easy access: Voter can vote via website, android app or iOS app.
b. Personalized and repeated intimation: Each voter is sent customized emails / SMS for notification and reminders.
c. Simple Log in: User authentication happens via OTP (One Time Password) and there is no need to remember complex user ID or password. Email ID / Mobile number is the log-in ID and OTP is the password.
d. User Interface and User Experience (UI/UX): The voting platform is very simple and intuitive. Even uneducated and old people find it comfortable and easy to use.
e. 24*7 Customer support: Right2Vote team is always available on call and email to support voters who need any help.
Voter turnout is very critical in any voting, but in case of insolvency cases it is even more important as IBC requires 51% to 66% positive votes for passing resolutions, and percentage is calculated on the basis of total number of voters in voter list and not on the basis on voter who actually voted. IBC, in effect, considers absence of voters as negative vote. Hence in platforms where voter turnout is less than 50%, it is almost impossible to get any resolution approved.
2. Tested and certified by Government of India: Right2Vote is tested and certified by Standardization Testing and Quality Certification Directorate (STQC) under Ministry of Electronics and Information Technology (MeitY), Government of India for security as well as quality. Right2Vote is the only focused voting company to be certified by Government of India. Link to certificate: https://right2vote.in/security-certificates/
3. Advanced features: Most of the other voting platform has very limited features and have been created just to meet the requirement rather than providing optimum solution. On the other hand, Right2Vote has been built to provide flexibility and options to cater to all kind of elections and voting. Most other platforms are very restrictive and provide facility for only 3 options per questions. Even questions are generally uploaded as an attachment which customer must download to view, leading to very bad customer experience. Right2Vote is totally customizable and not only allow unrestricted number of options but also different kind of polls including multiple choice, ranking, team election, Single Transferable Preference Vote (STPV), descriptive poll and many other. In all, Right2Vote platform allows 2040 different kind of voting combinations.
Some of the unique features available in Right2Vote platform are:
Weighted votes: This is a very useful feature for insolvency cases as in insolvency cases each creditor has different vote share based on amount outstanding. With this feature, the result is automatically calculated taking into consideration respective weightage of each voter’s vote. Voter receipt via Email / SMS: After voting, voter is sent a receipt via email for their record. This is very useful for bankers who have to file and report to their seniors. This also increases transparency and builds confidence with voters. Allow vote change: This feature allows the voter / creditor to change their vote during the poll time. Vote record
Maker – checker – Scrutinizer
The link to complete list of features on Right2Vote platform: https://right2vote.in/features-list/
4. Customer base: Right2Vote manages more than 60 elections each month and client list includes Maharashtra State Election Commission (MSEC), Indian Institute of Technology (IIT) Delhi, PricewaterhouseCoopers (PwC), Ernst & Young (E&Y), Earth Infrastructure Limited (EIL), Apex Association of Lavasa Property Owners (AALPO), Indian Society for Particle Accelerator (ISPA), Puma Realtors and many others.
5. ‘Do it yourself’ and admin control: Unlike other platform Right2Vote provides poll creators / IRPs full admin control of the platform. They can log in any time and create poll on the system and publish it. IRP themselves can decide which all features they want to use for their poll. RPs are not dependent on anybody, not even Right2Vote team. The IRPs can in real time track who has voted and who has not voted, send reminders and download results from the system.
6. Price: Above all, Right2Vote is also very cost effective. Charges only Rs. 25 per voter subject to minimum Rs. 5000 per event. GST @18% extra. Unlike other service providers Right2Vote does not charge extra for additional questions in the poll, longer poll duration, additional features or for creating poll on holidays.
Government of India appreciates the benefits of online voting and has made online voting mandatory under IBC and Companies Act due to following benefits:
Increased voter turnout due to voter convenience Substantial saving in cost Substantial saving in time Humongous saving in human effort 100% Accuracy of authentication and results 100% security and transparency
With successful experience of online voting in corporates, that day is not far off when the Government will make online voting mandatory for housing societies, clubs, colleges, cooperatives, associations, unions and even for political elections.