Section 59 in The Small Industries Development Bank Of India (General Regulations), 2000*
59. Voting at general meetings .-(1) At any general meeting, a resolution put to the vote of the meeting shall, unless a poll is demanded, be decided on a show of hands.
(2)Save as otherwise provided in the Act, every matter submitted to a general meeting shall be decided by a majority of votes.(3)Unless a poll is demanded under sub-regulation (1), a declaration by the Chairman of the meeting that a resolution on show of hands has or has not been carried, either unanimously or by a particular majority, and an entry to that effect in the books containing the minutes of the proceedings, shall be a conclusive evidence of the fact, without proof of the number or proportion of the votes cast in favour of or against such resolution.(4)Before or on the declaration of the result of the voting on any resolution on show of hands, a poll may be ordered to be taken by the Chairman of the meeting of his own motion, and shall be ordered to be taken by him on a demand made in that behalf by any shareholder or shareholders present in person or by proxy and holding shares in the Small Industries Bank which confer a power to vote on the resolution not being less than one-fifth of the total voting power in respect of the resolution.(5)The demand for a poll may be withdrawn at any time by the person or persons who made the demand.(6)A poll demanded on a question of adjournment or election of Chairman of the meeting shall be taken forthwith.(7)A poll demanded on any other question shall be taken at such time not being later than forty-eight hours from the time when the demand was made, as the Chairman of the meeting may direct.(8)The decision of the Chairman of the meeting as to the qualification of any person to vote, and also in the case of poll, as to the number of votes any person is competent to exercise shall be final.
