Board of Directors
Board of Directors
The Management of NACOF vests in the Board of Directors which includes the Chairman/Chairperson and the Managing Director. There are two statutory committees’ viz Executive Committee and Business Committee. In addition, the Board can also Formed other committees and sub-committees as may be necessary and delegate to them such powers as may be necessary and appropriate from time to time.
Board of Directors
The Board of Directors of NACOF is constituted from amongst the representatives of Member Cooperatives, nominees of Central Government, NCDC, and others as per clause No. 30 of Byelaws. The Directors are elected by the General Body in accordance with the provision of the MSCS Act & Rules and its Byelaws for a term of five years.
The office bearers i.e. Chairman/Chairperson and two Vice- Chairmen are elected by the Board of Directors from amongst themselves whose term is co-terminus with that of the Board of Directors. The constitution of the present Board of Directors is as under:
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Five Directors shall be elected by the Member Societies admitted under bye-laws No.4(B)(iii)from amongst themselves.
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Seven Directors shall be elected by the multi-state cooperative societies, whose area of operations extends to four or more States
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Four Directors shall be elected by the Multi-State Cooperative Societies, whose area of operations extends to more than two States but less than four States
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Two nominees of Central Govt., one each from the Ministry of Agriculture and Ministry of Food.
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One nominee of National Cooperative Development Corporation.
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Two Directors shall be elected by member societies that have subscribed to a share capital of Rs 25 lakhs or more in NACOF
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The member societies, which are not covered in any clause mentioned above shall be part of bye-laws No30(B)(i)(a).
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Managing Director and Functional Directors shall be the ex-officio members of the Board of Directors
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The Board may Coopt two experts in the field of Management, Finance, Marketing, Cooperation, or such other professionals who would professionally strengthen NACOF. Such Coopted Directors will not be eligible to vote for the election of office bearers of NACOF, Board or eligible to be elected as office bearers or represent NACOF in any Multi-State Cooperative Society.
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Two subject matter specialists, who may not be on a permanent basis may be invited by the Board to any of its meetings.
Powers and Functions of Board of Directors
The Board of NACOF shall exercise the following powers
