Section 19:
Restriction on voting rights.
1[19. Restriction on voting rights.--No shareholder, other than the State Bank, shall be entitled
to exercise voting rights in respect of any shares held by him in excess of ten per cent. of the issued
capital of the subsidiary bank concerned:
Provided that the shareholder holding any preference share capital in the subsidiary bank shall, in
respect of such capital, have a right to vote only on resolutions placed before such subsidiary bank
which directly affect the rights attached to his preference shares:
Provided further that no preference shareholder shall be entitled to exercise voting rights in
respect of preference shares held by him in excess of ten per cent. of the total voting rights of all the
shareholders holding preference share capital only.]
Notes:
1.Subs. by s. 10, ibid., for section 19 (w.e.f. 9-7-2007).