Barun - Your situation is indeed not unusual and getting more common. In fact, 4:00am Board meetings are a regular occurence for me. In general, my recommendations outlined in the blog still apply: preparation (i.e. materials sent in advance) and logisitics should be well tuned. When dealing with cross continent and cross cultural relationships in Board, it is critical to emphasize communications beyond the boundaries of Board meetings. This could reaching out on a regular basis over the phone to the distant Board member. I would also advise taking advantage of business travel to visit the 'remote' Board members.
It is a really nice insight about having a meaningful board meeting, but the tips are relevant for face to face board meeting. It will be really helpful if you can provide some insight on how to conduct a virtual board meetings. This will be very relevant for the companies (like those in India) where CEO and board members are far located and face to face board meeting is not possible due to cost
Thanks for this series on business 101 for startups. It's likely many readers will start their own company, considering how inventive engineers are, so it's helpful to learn some basics plus get the lowdown