Section 3 in The Small Industries Development Bank Of India (General Regulations), 2000*
3. Meetings of the Board .- (1) Meetings of the Board shall be convened by the Chairman and Managing Director or in his absence, by any one of the whole-time Directors or in their absence by an Executive Director or chief general manager nominated by Chairman and Managing Director in this behalf.
(2)Any four directors may require the Chairman and Managing Director or in his absence, any one of the whole-time Directors nominated by Chairman and Managing Director to convene a meeting of the Board at any time and he shall forthwith convene a meeting accordingly.(3)Meetings of the Board shall be held at the head office of the Small Industries Bank, or at such other place as may be specified in the notice convening the meetings.(4)Not less than ten days notice shall ordinarily be given of each meeting of the Board and such notice shall be sent to every director at his usual address in India. Should it be found necessary to convene an emergency meeting, sufficient notice shall be given to every director to enable him to attend.(5)No business other than that for which the meeting was convened shall be discussed at a meeting of the Board, except with the consent of the person presiding at the meeting and a majority of the directors present, unless one clear week's notice has been given of the same in writing to the Chairman and Managing Director.(6)Quorum for the transaction of business at a meeting of the Board shall be one-third of the total number of persons for the time being constituting the Board (any fraction contained in that one-third being rounded off as one).(7)A resolution in writing circulated to all the directors at their usual addresses in India and approved and signed by a majority of such directors who are then in India, one of whom shall be Chairman and Managing Director or any one of the whole-time Directors, shall be valid and effectual and shall be deemed to be the resolution passed by the Board on the date on which it is concurred and signed by the last signatory to the resolution:Provided that if any dissenting director requires in writing that any resolution so passed shall be placed before a meeting of the Board, the resolution shall not be deemed to be valid and effectual as aforesaid, unless the same is passed at such meeting.(8)A copy of the proceedings of each meeting of the Board shall be circulated as soon as possible thereafter for the information of the directors and shall be signed by the person presiding at that or the next succeeding meeting.
