Section 12 in The Reserve Bank Of India General Regulations, 1949
12. Acts of Directors and Members of Boards valid notwithstanding subsequent discovery of disqualification .-All acts done at any meeting of the Central or Local Board or the Committee of the Central Board or by any person acting as a Director or a member or as a member of the Committee of the Central Board shall, notwithstanding that it is afterwards discovered that there was some defect in the appointment of such person or that they or any of them were disqualified, be as valid as if every such person had been duly appointed and duly qualified.
