Section 4 in The National Housing Bank General Regulations, 1988
4. Resolution without meeting of Board valid
.-A resolution in writing circulated to all the directors in India and approved and signed by a majority of such directors who are then in India (of whom one shall be the Chairman or a director nominated by the Reserve Bank) shall be valid and effectual and shall be deemed to be the resolution passed by the Board on the date on which it is approved 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 a meeting.
