The Board of directors of a Producer Company shall exercise all such powers and to do all such acts and things, as that company is authorized so to do. In particular and without prejudice to the generality of the foregoing powers, such powers may include all or any of the following matters, namely determination of the dividend payable, determination of the quantum of withheld price and recommend patronage to be approved at general meeting, admission of new Members, pursue and formulate the organizational policy, objectives, establish specific long term and annual objectives, and approve corporate strategies and financial plans, appointment of a Chief Executive and such other officers of the Producer Company, exercise superintendence, direction and control over Chief Executive and other officers appointed by it; cause proper books of account to be maintained; prepare annual accounts to be placed before the annual general meeting with the auditor’s report and the replies on qualifications, if any, made by the auditors, sanction any loan or advance, in connection with the business activities of the Producer Company to any Member, not being a director or his relative.

Board of Directors