Board of Directors

The Management of NACOF vests in the Board of Directors which includes Chairman/Chairperson and the Managing Director. There are two statutory committees’ viz Executive Committee and Business Committee. In addition, the Board can also appoint 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.

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 provision of 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:

1. (a) Five Directors shall be elected by the Member Societies admitted under  bye-laws No.4(B)(iii)from amongst themselves.
   (b) Seven Directors shall be elected by the multi-state cooperative societies, whose area of operations extends to four or more States
   (c) 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
2. (a) Two nominees of Central Govt., one each from the Ministry of Agriculture and Ministry of Food.
   (b) One nominee of National Cooperative Development Corporation.
3. Two Directors shall be elected by member societies which have subscribed to a share capital of Rs 25 lakhs or more in NACOF
4. The member societies, which are not covered in any clause mentioned above shall be part of bye-laws No30(B)(i)(a).
5. Managing Director and Functional Directors shall be the ex-officio members of the Board of Directors
6. 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.
7. Two subject matter specialists, who may not be on permanent basis may be invited by the Board in any of its meetings.

The Board of NACOF shall exercise the following powers;

1. To approve/reject admission of members;
2.  To elect Chairman/Chairperson and and two Vice-Chairmen of the NACOF;
3.  To authorize convening of Meetings of the General Body;
4.  To interpret the organizational objectives and set-up specific goals to be achieved towards these objectives;
5. To make periodic appraisal of objectives;
6. To make provisions for regulating the appointments in the NACOF and the scales of pay, allowances and other conditions of service, including disciplinary action against such employees;
7.  To place the Annual report, Annual financial statements, Annual plan and Budget  Estimate for the approval of the General Body;
8.  To consider Audit and Compliance Report and place the same before the General Body ;
9.   To acquire or dispose of immovable property;
10.   To review the membership in other cooperatives;
11.   To approve Annual and Supplementary budgets;
12.   To recommend  to the General Body distribution of profits;
13.   To raise funds;
14.   To sanction loans to the members;
15.   To fill any vacancy/vacancies in the Board by elections;
16.   To approve the panel of auditors for placing in the General Body;
17.   To appoint such Committees, Sub-Committees or Standing Committees as may   be necessary and delegate to them such powers as may be necessary and appropriate.
18. To frame regulations for the election of delegates to the General Body, Members of the Board of Directors  and for the conduct of Meeting of the General Body and the Board of Directors as per the provisions of the Act;
19. To take such other measures or to do such acts as may be prescribed or required under this act or the bye-laws or as may be delegated by the General Body.