Section 12(8)(i) in The Nationalised Banks (Management And Miscellaneous Provisions) Scheme, 1970
(i)a share-holder (other than a Director) holding not more than two per cent. of the paid-up capital in any public company as defined in the Companies Act, 1956 (1 of 1956), or any corporation established by or under any law for the time being in force in India or any co-operative society with which or to which the Nationalised Bank has entered into or made or proposed to enter into or make, a contract, loan, arrangement or proposal, or