Section 60 in The Industrial Development Bank Of India General Regulations, 1994
60. Voting by duly authorised representative
.-(1) A shareholder being the Central Government or a body corporate may authorise any of its officials or any other person to act as its representative at any general meeting of the shareholders and the person so authorised (referred to as a "duly authorised representative "in these regulations) shall be entitled to exercise the same rights including the right to vote by proxy and powers on behalf of the Central Government or such body corporate as if he were an individual shareholder of the Development Bank.(2)No person shall attend or vote at any meeting of shareholders of the Development Bank as the duly authorised representative of a body corporate unless a copy of the resolution appointing him as a duly authorised representative certified to be a true copy by the Chairman of the meeting at which it was passed shall have been deposited at the head office of the Development Bank not less than four clear days before the date fixed for the meeting.Explanation .-For the purpose of this regulation, a body corporate shall also include a society registered under the Societies Registration Act, 1860 (21 of 1860), or any other law for the time being in force providing for registration of societies.
