law: Securities and Exchange Board of India Act, 1992
  7.Meetings.- 
  (1) The Board shall
  
  meet at such times and places, and shall observe such rules of procedure in
  
  regard to the transaction of business at its meetings (including quorum at such
  
  meetings) as may be regulation.
  (2) The Chairman or,
  
  if for any reason, he is unable to attend a meeting of the Board, any other
  
  member chosen by the members present from amongst themselves at the meeting
  
  shall preside at the meeting.
  (3) All questions
  
  which come up before any meeting of the Board shall be decided by a majority
  
  votes of the members present and voting, and, in the event of an equality of
  
  votes, the Chairman, or in his absence, the person presiding, shall have a
  
  second or casting vote.