law: Securities and Exchange Board of India Act, 1992
  8.Vacancies, etc., not
  
  to invalidate proceedings of Board.- 
  No act or proceeding
  
  of the Board shall be invalid merely by reason of- 
  (a) any vacancy in, or
  
  any defect in the constitution of, the Board;
  or
  
  
  (b) any defect in the appointment of a person acting as a member of the Board;
  
  or
  
  
  (c) any irregularity in the procedure of the Board not affecting the merits of
  
  the case.