Term of the Board

The term of the Board of Directors is for a period of five years.

Chairman & Vice-Chairman

The Board of Directors elect a Chairman and Vice-Chairman from amongst themselves. The terms of the Chairman and Vice-Chairman is co-terminus with the term of the Board.

Powers & Responsibilities of the Board of Directors

The Board exercises all powers of the Federation except those reserved for the General Body and in particular has the following main powers and duties:-

1. To place before the General Body the Annual Report, Audit Report and Work Programme.

2. To decide matters relating to withdrawals, transfers, refund and forfeitures of shares.

3. To frame rules for election of Directors.

4. To authorise person or persons to sign on behalf of the Federation, bills, notes, receipts, endorsements, cheques, contracts and documents.

5. To appoint agent or agents for the business.

6. Through any member or officer or employee of the Federation or any person specially authorised to institute, conduct, defend, compromise, refer to arbitration or abandon legal proceedings by or against the Federation or the Board or officers or employees concerning the affairs of the Federation.

7. To frame regulation regarding recruitment, scales of pay, promotions, training and service conditions of employees of the Federation.

8. To delegate all or any of the powers, authority and discretion vested in the Board of Directors to the Managing Director or other employees or Executive Committee or other Committee subject to the ultimate control being retained by the Board.

9. To determine terms and conditions of collaboration with cooperatives and others in India and abroad.

10. To settle the terms and conditions regarding retirement of share capital contribution by the Govt. of India.

11. To appoint from amongst its own members the Executive Committee, Business Committee and other Sub-Committees for specified purposes to conduct the business efficiently. The Committees shall in the discharge of the Functions entrusted to them, conform in all respect to the bye-laws and to the instruction given by the Board. The deliberations and decisions of the Committees shall be subject to review by the Board.

12. To construct, purchase or otherwise acquire godowns, trucks, machinery or other property considered necessary for carrying out the business of the NCCF and enter into contract for the purpose and disposal of any property.

13. Sanctioning of contract of any value.

14. To appoint trustee or trustees, attorney or attorneys for the business of the NCCF.

15. Laying down criteria for determining the default by members.

16. To interpret the organisational objectives and set up specified goals to be achieved towards these objectives.