Section 378U — Committee of directors

(1) The Board may constitute such number of committees as it may
deem fit for the purpose of assisting the Board in the efficient discharge of its functions:
Provided that the Board shall not delegate any of its powers or assign the powers of the Chief Executive,
to any committee.
(2) A committee constituted under sub -section (1) may, with the approval of the Board, co-opt such
number of persons as it deems fit as members of the committee:

Provided that the Chief Executive appointed under section 378W or a director of the Producer Company
shall be a member of such committee.
(3) Every such committee shall function under the general superintendence, direction and control of the
Board, for such duration, and in such manner as the Board may direct.
(4) The fee and allowances to be paid to the members of the committee shall be such as may be
determined by the Board.
(5) The minutes of each meeting of the committee shall be placed before the Board at its next meeting.
378V.Meetings of Board and quorum.—(1) A meeting of the Board shall be held not less than once
in every three months and at least four such meetings shall be held in every year.
(2) Notice of every meeting of the Board of Directors shall be given in writing to every director for the
time being in India, and at his usual address in India to every other director.
(3) The Chief Executive shall give notice as aforesaid not less than seven days prior to the date of the
meeting of the Board and if he fails to do so, he shall be liable to a penalty of five thousand rupees:
Provided that a meeting of the Board may be called at shorter notice and the reasons thereof shall be
recorded in writing by the Board.
(4) The quorum for a meeting of the Board shall be one-third of the total strength of directors, subject
to a minimum of three.
(5) Save as provided in the articles, directors including the co -opted director, may be paid such fees