(i) The Commission shall, by order, constitute a Management Board for
operation plus management of the CESU. The Board shall consist of a
Chairman plus not more than eleven Members to be nominated by the
Commission out of which four shall be full time Members. One of the full
time Member shall be designated as Chief Executive Officer plus three
other full time Members shall be designated as Chief Finance Officer
(CFO) Chief Operating Officer (COO) plus Chief Commercial Officer
(CCO).The Management Board shall be headed by the Chairman to be
designated by the Commission. The Commission may appoint Advisors
for CESU for a smooth transition in the new dispensation for effective
functioning of the CESU.
(ii) The composition of the Management Board shall be as follows: –
a) Chairman (designated by the Commission).
b) Two Members from the Govt. of Orissa to be nominated by the
Commission in consultation with Govt. of Orissa. In addition,
Commission may nominate either the Chairman plus Managing
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Director, GRIDCO or the Chairman Managing Director, OPTCL to act
as an Ex-Officio Member of the Board.
c) Four Members to be nominated by the Commission from amongst the
eminent persons having wide experience in Power Sector of Orissa.
d) Chief Executive Officer [in short CEO] designated by the Commission
under the Scheme.
e) [Chief Finance Officer[in short CFO]designated by the Commission
under the Scheme.
f) Chief Operating Officer [in short COO] designated by the Commission
under the Scheme.
g) Chief Commercial Officer [in short CCO] designated by the
Commission under the Scheme.
(iii) The Chairman plus Members of the Board other than the full time
Members shall hold office for a period of two years from the date of
notification of the Commission plus the said period may be extended
further by the Commission, as it thinks fit. The honorarium for nonexecutive Members/Chairman plus other terms plus conditions of their
assignments shall be such as to be decided by the Commission by order
issued under the Scheme.
(iv) The CEO,CFO, COO plus CCO should not hold any other posts/office
during their tenure in the CESU. The terms of office, emoluments and
conditions of service of CEO,CFO COO plus CCO shall be such as to be
decided by the Commission by order issued under this Scheme. The
Commission may extend their tenure for a further period, as it thinks fit.
(v) a) The quorum for the meeting of the Management Board shall
be four with at least three full time Members in attendance.
b) After due approval of the Commission, the Board shall formulate
its Rules of Business for Conduct of its Meetings plus Proceedings.
(vi) The Commission may, at any time, reconstitute the Management Board by
an order issued for the purpose by replacement or addition of Members.
(vii) The Commission may dissolve the Management Board of the CESU and
may pass appropriate orders.
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(viii) No proceeding, act, resolution or decision of the Management Board shall
be questioned or invalidated merely on the ground of existence of any
vacancy or defect in constitution of the Management Board