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;
(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.