Lawgist4ERestriction on exercising of voting right
1[4E. Restriction 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 of ten per cent. of the issued equity share capital.]
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1. Subs. by Act 7 of 2000, s. 3, for sections 4 to 6 (w.e.f. 27-3-2000).
- 3 Establishment and incorporation of Small Industries Development Bank of India
- 4 Authorised capital
- 4A Conversion of equity shares into redeemable preference shares
- 4B Transfer of capital
- 4C Issued capital
- 4D Reduction of share capital
- 4E Restriction on exercising of voting right
- 5 Management
- 6 Constitution of Board
- 7 [Omitted.]
- 8 Disqualification of directors
- 9 Vacation and resignation of office by directors
- 10 [Omitted.]
- 11 [Omitted.]
- 12 Executive Committee and other committees
- 12A Fees and allowances of directors and members of committees
