Meeting of Board

Conduct of Business of the Board

1. (1) The Chairman may, at any time, and shall at least once in two months or on receipt of a requisition signed by not less than three (directors) and stating business to be brought before the Board, call a meeting of the Board in the prescribed manner;
2. (2) The Chairman, and in his absence the Vice-Chairman shall preside at such meeting of the Board
3. (3) All questions at a meeting of the Board shall be decided by the votes of the majority of the (directors) present and voting and in case of equality of votes, the person presiding shall have a second or casting vote.
4. (4) Three (directors) shall form a quorum at a meeting of the Board; Provided further that a notice of the adjourned meeting shall be sent to all the (directors) of the Board, in the manner prescribed.
5. (5) A copy of the proceedings of every meeting of the Board shall be sent by the (Managing Director)to the Government and to all the (directors) of the Board within three days after the meeting is held.
6. (6) No act done or proceedings taken under this Act by the Board shall be invalid merely on the ground of existence of any vacancy amongst (directors) or by reason of defect or irregularity in its constitution or any irregularity in procedure not affecting the merits of the case.