Small Industries Development Bank of India Act : RESTISTION ON EXERCISING OF VOTING RIGHT Indian Bare Acts :

Small Industries Development Bank of India Act,1989

Act No : 39

Section : RESTISTION ON EXERCISING OF VOTING RIGHT

SECTION 04E: RESTISTION ON EXERCISING OF VOTING RIGHT

Every shareholder of the Small Industries Bank holding equity shares shall have a right to vote in respect of such shares on every resolution and his voting right on a poll shall be in proportion to his share of the paid-up equity share capital of the Small Industries Bank:

Provided, however, that no shareholder, other than the Development Bank, the public sector banks, the General Insurance Corporation, the Life Insurance Corporation and other institutions owned or controlled by the Central Government, shall be entitled to exercise voting rights in respect of any equity shares held by him in excess often per cent. of the issued equity share capital.