10. (1) The meetings of a Board shall be held at such times and places as may be prescribed: Provided that a meeting may also be otherwise convened by the Managing Director, if the Chairman so directs. (2) To constitute a quorum at a meeting of the Board not less than three Directors, shall be present. (3) At a meeting of a Board each Director shall have one vote, and in the event of equality of votes the Chairman shall have a second or casting vote. (4) No director shall vote on any matter in which he is directly or indirectly interested. (5) If for any reason the Chairman of a Board is unable to be present at a meeting a Director elected by the Directors present shall preside over the meeting. (6) No act or proceeding of a Board shall be invalid merely on the ground of existence of any vacancy in, or any defect in the constitution of, the Board.