Section 40 in Amended Bye-Laws of the Pradeshik Co-operative Dairy Federation Limited
40. Managing Director.
(1)The Managing Director shall be appointed by the State Government as provided under the Act. He shall be an ex officio member of the Committee of Management.(2)The Managing Director shall be the Chief Executive Officer of the Federation and shall (subject to the provisions of the Act, the Rules and the Bye-laws) -(i)be responsible for the sound management of the working of the Federation and its efficient administration;(ii)carry on the authorised and normal business of the Federation;(iii)convene and attend all meetings of the General Body and Board of Directors, and record and sign proceedings of such meetings;(iv)convene and attend meetings also of any sub-committee and record and sign its proceedings or may depute any subordinate officer to perform such duties;(v)see that the proceedings of the meeting are recorded in a minute book which shall also be signed by the Chairman or other person who presided over the meeting;(vi)draft the annual report of the Federation;(vii)fix the duties of employees of the Federation, supervise the work of the office and generally to carry on correspondence on behalf of the Federation;(viii)admit, subject to the approval of the Board, nominal members on payment of admission for which he shall issue receipts;(ix)sanction within approved budget limits -(a)working expenditure of the Federation;(b)expenditure en trading stock;(c)other expenditure within limits fixed by the Board.(x)open, with the resolution of the Board, account of the Federation with any Bank or Banks approved by the Registrar (Milk Commissioner) and operate the accounts and the funds of the Federation,(xi)sign on behalf of the Federation all receipts and other documents executed by the Board, provided that share certificate and such other documents as the Board may specify shall be signed by the Managing Director as well as Chairman;(xii)receive, withdraw, disburse and invest the funds of the Federation subject to such restrictions and instructions as the Board may lay down and to arrange for the safe custody of cash, documents, trading and other stock;(xiii)subject to the provisions of the bye-laws, service regulations and such conditions as the Board may lay down have the power to-(a)appoint, suspend dismiss, remove or otherwise punish salaried employees of the Federation and to require all or any of them to furnish security provided that the Board delegates the concerned power;(b)transfer the employees of the Federation;(xiv)to verify or get verified the stock of goods, equipments, dead stock, etc. at least once in three months and put up verification report before the Board;(xv)exercise such other powers and perform such other duties as may be conferred or imposed upon him under the provisions of the Act and the Rules or assigned or delegated to him by the Board. The managing Director may delegate any of his power in writing to other officers of the Federation with the approval of the Board.
