TOR’S OF THE CHIEF EXECUTIVE OFFICER OF THE BIEDMAC
3.
(a) The
Chief Executive Officer shall be a contractual employee to be hired for a
period of three (3) years renewable term. He shall be appointed by the BOD,
having preferably a Masters Degree or Bachelors Degree (with 10 years of
experience of working in the Civil Services) in Engineering/Finance/Management
qualifications and at least 5 years experience of successfully managing industrial
projects/concerns, on terms and conditions to be determined by the BOD.
(b) The
Chief Executive Officer shall work under the guidance of the BOD and be
responsible for the day-to day management and administration of "The
Company". Without prejudice to the
generality of the foregoing, he shall be responsible, with the approval of the
BOD, to:
i.
Determine the
powers, duties and fix salaries or emoluments of the managers, secretaries,
officers, clerks and employees, either permanent or temporary who are appointed
under Article 49(vi) of “These Presents”;.
ii.
Prescribe duties
of all employees and staff of "The Company";
iii.
Make, draw,
endorse, sign, accept, negotiate and give cheques, bills of lading, drafts,
orders, bills of exchange, promissory notes and other negotiable instruments in
the amount below Rupees one (1) million.
iv.
Institute,
conduct, defend or abandon any legal proceedings by or against "The
Company" in consultation with the Legal Advisor or otherwise concerning
the affairs of "The Company" and also to compound and allow time for
payment and satisfaction of any established debt due and of any established
claim or demand by or against "The Company", with the approval of the
BOD;
v.
Ensure proper
administration of the affairs, "Funds" and resources of "The
Company";
vi.
Secure the
fulfillment of any contract, agreement or engagement entered into by "The Company" by mortgage or charge of all or any of the properties of
"The Company" (except property of the “Government”, as per Article 57
of “These Presents”) from time to time or in such a manner as he may
think it fit in the interest of "The Company";
vii.
Appoint and
remove or suspend managers, secretaries, officers, clerks and employees, either
permanent or temporary;
viii.
Refer any
established claims or demands by or against "The Company" to
arbitration and observe and perform the awards in consultation with the Legal
Advisor, with the approval of the BOD;
ix.
Exercise
supervision and disciplinary control over the work and conduct of all employees
of "The Company";
x.
Delegate any of
his function(s) to any officer(s) of "The Company" with the prior
approval of the BOD; and
Perform any other task assigned by the BOD.