(1)Every contract shall be made on behalf of the Board by the Chairman :Provided that-(a)no contract involving an expenditure of rupees ten lakhs and above shall be made without the previous sanction of the State Government;(b)(i)no contract involving an expenditure of rupees three thousands and above shall, subject to Clause (a), be made without the previous sanction of the Board;(ii)no estimate or tender involving an expenditure of rupees three thousands and above shall, subject to Clause (a) be sanctioned or accepted, as the case may be, without the previous sanction of the Board.(2)The provisions contained in Sub-section (1) shall also apply in respect of every variation or abandonment of a contract or estimate.(3)Every contract made by the Chairman on behalf of the Board shall, subject to the provisions of this section, be entered into in such manner and form as may be prescribed.(4)A contract not made or executed as provided in this section and the rules made in that behalf shall not be binding on the Board.
