(1) The Board of any committee appointed by it shall meet at such times and places and shall observe such rules or procedure in regard to the transaction of business at its meetings as may be provided by the regulations made by the Board under this Act.
(2) The 3[Chairman-cum-Managing Director] and in his absence the Vice-Chairman, and in the absence of both, any other director elected by the directors from amongst themselves, shall preside at the meeting of the Board.
(3) Six Directors shall form a quorum for the meetings of the Board:
Provided that no quorum shall be necessary for adjourned meetings.
(4) All questions which come up before any meeting of the Board shall be decided by a majority of votes of the Directors present and voting and in the event of an equality of votes, the 4[Chairman-cum-Managing Director], the Vice-Chairman or the person presiding, as the case may be, shall have and exercise a second or casting vote.