Section 4G in The State Financial Corporations (Amendment) Act, 2000
4G. Proxy voting.- In a general meeting referred to in clause (b) of sub- section(1) of section 4D and sub- section (1) of section 4E, the resolution for conversion or reduction of share capital shall be passed by shareholders entitled to vote, voting in person, or, wh re proxies are allowed, by proxy, and the votes cast in favour of the resolution are not less than three times the number of votes, if any, cast against the resolution by shareholders so entitled and voting.
