(1) The Board shall have a Managing Director to be appointed by the State government to assist the Board in its day to day functioning.
(2) The Board may, with the approval of the State Government, create such other posts and appoint such officers and other employees thereon, as it may consider necessary for the efficient discharge of its functions.
(3) The conditions of service of officers and other employees referred to in subsections (1) and (2) and their functions and duties shall be such, as may be specified in the bye-laws.
Finance, accounts and audit of the Board.
Officers and employees of the Board.
(4) The Managing Director shall exercise the powers of supervision over all the officers and other employees of the Board.
1[(5) A contract,after it is sanctioned by the competent authority, shall be signed by the Managing Director, on behalf of the Board:
Provided that where the sanctioning authority of any contract or class of contracts is the Managing Director, such contracts may be signed on behalf of the Board by the Managing Director himself or by any other officer duly authorized by him in this behalf.]