Section 14 in The Maharashtra Khadi and Village Industries Rules, 1970
14. Chairman to enter into any contract or agreement.
(1)The Chairman of the Board may, on behalf of the Board enter into any contract or agreement in such manner and form as according to the law for the time being in force, would bind him if the contract or agreement were entered into on his own behalf, provided that the amount or value of such contract or agreement does not exceed five hundred rupees.(2)Any other contract or agreement on behalf of the Board shall be in writing and shall be signed and sealed with the common seal of the Board by the Chairman in the presence of any two other members of the Board, who shall affix their signatures to the contract or agreement in token that the same was signed and sealed in their presence. The signatures of such members shall be in addition to the signatures of any witnesses to the execution of such contract or agreement :Provided that, in case of any contract or agreement on behalf of the Board with the Commission such contract or agreement shall be signed and sealed by the Chairman only.(3)The common seal of the Board shall remain in the custody of the Chief Executive Officer.
