law: State Financial Corporations Act, 1951 
  19. Meetings of the Board and Committee 
  (1) The Board and the Executive Committee shall meet at such
  
  times and places and shall observe such rules of procedure in regard to
  
  transaction of business at its meetings as may be provided by regulations made
  
  under this Act.
  (2) All questions at a meeting shall be decided by a majority of
  
  votes of the members present, and, in the case of equality of votes, the
  
  Chairman or in his absence, any other person presiding, shall have a second or
  
  casting vote.
  (3) No Director shall vote on any matter in which he is
  
  interested.
  (3A) If, for any reason, a Director nominated under clause (a)
  
  or clause (b) or clause (c) of section 10 is unable to attend any meeting of
  
  the Board, the State Government, the Reserve Bank or the Development Bank, as
  
  the case may be may depute any other person to attend the said meeting and such
  
  person shall for all purposes of the said meeting, be deemed to be a Director
  
  nominated under clause (a) or clause (b) or clause (c), as the case may be, of
  
  the said section.
  (4) If for any reason a Director nominated under clause (a) or
  
  clause (b) or clause (c) of section 10 who is a member of the Executive
  
  Committee or any other committee is unable to attend any meeting of the
  
  Executive Committee or other committee, the State Government, the Reserve Bank
  
  or the Development Bank as the case may be, may depute any other person to
  
  attend the said meeting and such person shall, for the purposes of the said
  
  meeting, be deemed to be a member of such committee.
  (5) If for any reason the Chairman of the Board or the Chairman
  
  of the Executive Committee is unable to attend any meeting of the Board or, as the
  
  case may be, of the Executive Committee,-
  (a) in the case of the meeting of the Board, a
  
  Director 6[***] authorized by the Chairman of the Board in writing shall
  
  preside at such meeting, but if the Director so authorized is absent or if no
  
  such authorization has been made, the Board may elect a Director to preside at
  
  the meeting; and
  (b) in the case of the meeting of the
  
  Executive Committee, a member authorized in writing by the Chairman of that
  
  Committee shall preside at that meeting, but if the member so authorized is
  
  absent or if no such authorization has been made, the Committee may elect any
  
  of its members to preside at that meeting.