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Board of Directors
Board of Directors functions as the central governing and supervisory body of the Federation. It oversees the implementation of policies and decisions approved by the IFERD Assembly and ensures that all activities of the Federation are carried out in accordance with its mission, objectives, and applicable legal provisions. The Board provides strategic guidance, promotes institutional accountability, and supports the sustainable growth and development of the Federation. IFERD Assembly shall appoint members of Board of Directors to oversee the overall governance, performance, and statutory compliance of the Federation. Only Ordinary Members of the Federation with demonstrated experience, integrity, and commitment to the vision and mission of IFERD shall be eligible to be appointed as members of the Board of Directors. The appointment of members to the Board shall be carried out in accordance with the applicable provisions of the Companies Act 2013 and the governing regulations of the Federation.
Members of the Board shall hold office for a term of three (3) years and may be reappointed based on their contribution towards achieving the vision and mission of the Federation. Board shall elect a Chairman from among its members and may frame its own rules and procedures for the conduct of meetings and the discharge of its functions. The Board of Directors shall be responsible for implementing the policies, resolutions, and strategic directions approved by the IFERD Assembly and for ensuring that the affairs and operations of the Federation are conducted in accordance with the provisions of the Companies Act 2013, and other applicable laws and regulations. The Board shall supervise and guide the functioning of the IFERD Secretariat in carrying out the administrative and operational activities of the Federation and shall provide strategic direction for the effective growth and development of the organization.
The Board of Directors shall also approve the constitution of various Councils, Committees, and Working Groups as may be necessary for achieving the objectives of the Federation. It shall approve the establishment of IFERD Chapters at national and international levels in accordance with the policies and framework of the Federation. In addition, the Board shall review the performance, programs, and initiatives undertaken by the Federation and provide recommendations and guidance for institutional advancement and effective implementation of activities. The Board of Directors shall further perform such other functions and exercise such powers as may be delegated by the IFERD Assembly or as may be required under applicable laws and regulations.
Board of Directors shall meet periodically for the governance and administration of the Federation in accordance with the provisions of the Companies Act 2013 and the applicable rules framed thereunder. Board shall ordinarily meet at least four times in a calendar year, or as may be required for the effective functioning of the Federation. Reasonable notice of every Board Meeting shall be given to all Directors in accordance with the provisions of the Companies Act 2013. The notice shall specify the date, time, venue, and agenda of the meeting. The quorum for a Board Meeting shall be as prescribed under the Companies Act 2013.
No business shall be transacted unless the required quorum is present. Directors may participate in Board Meetings through video conferencing or other audio-visual means, as permitted under the Companies Act 2013. Participation through such means shall be counted for the purpose of quorum. Decisions of the Board shall ordinarily be taken by majority vote of the Directors present and voting, unless otherwise required by law or by the Articles of Association of the Federation. The Chairman of the Board shall preside over Board Meetings.
In the absence of the Chairman, the Directors present may elect one among themselves to preside over the meeting. Minutes of every Board Meeting shall be properly recorded, maintained, and preserved in accordance with the applicable provisions of the Companies Act 2013. The Board may also pass resolutions by circulation where permitted under the Companies Act 2013.