Section 21: Meetings of Board of Directors

1) Meetings of the Board of Directors shall have to be held at least 12 times in a year.

Provided that the gap between the two meetings shall not be more than sixty days.

2) The Chairperson shall convene a meeting of the Board of Directors at any time when at least one-third of the Directors request in writing to convene the meeting by mentioning the agenda to be discussed in the meeting.

3) Meetings of the Board of Directors shall be presided over by the Chairperson. In the absence of the Chairperson, the meeting shall be presided over by a Director selected by a majority of the Directors from amongst themselves.

4) No meeting of the Board of Directors shall be held unless it is attended by at least fifty-one percent of the total number of Directors.

5) The decision of a majority in the meeting of the Board of Directors shall be binding, and the Chairperson may exercise the casting vote only in the event of a tie.

6) Minutes regarding the names of Directors attended in the meeting of the Board of Directors, the agenda discussed, and the decisions taken thereon shall be recorded in a separate book, and such minutes shall be signed by all Directors attended in the meeting.

Provided that, if any Director puts forward any dissenting opinion in the decision of the Board of Directors, he/she may mention such dissenting opinion in the minutes by putting his/her signature.