Section 59 in The Industrial Development Bank Of India General Regulations, 1994
59. Determination of voting rights
.-(1) Subject to the provisions contained in section 13-G of the Act-(a)upon a show of hands, every shareholder entitled to vote and present in person or by attorney or proxy shall have one vote; and(b)upon a poll, every shareholder, who being an individual is present in person or by attorney or by proxy or being the Central Government or a body corporate, is present through a representative, shall have a voting right in proportion to his or its share of the paid-up equity capital of the Development Bank.(2)Shareholder of the Development Bank entitled to attend and vote at a general meeting shall be entitled to appoint another person (whether a shareholder or not) as his proxy to attend and vote instead of himself; but a proxy so appointed shall not have any right to speak at the meeting.(3)A person appointed as proxy shall be entitled to vote only upon a poll.
