Number of Directors Every Producer Company shall have at least five and not more than fifteen Directors: Provided that in the case of an inter-State co-operative society incorporated as a Producer Company, such company may have more than fifteen Directors for a period of one year from the date of its incorporation as a Producer Company] Amendment […]

Provisions in respect of officers and other employees of inter-State co-operative society (1) Notwithstanding anything contained in section 378-O, all the Directors in the inter-State co-operative society before the incorporation of the Producer Company shall continue in office for a period of one year from the date of transformation and in accordance with the provisions

Concession, etc., to be deemed to have been granted to Producer Company With effect from the date of transformation, all fiscal and other concessions, licences, benefits, privileges and exemptions granted to the inter-State co-operative society in connection with the affairs and business of the inter-State co-operative society under any law for the time being in

Vesting of undertaking in Producer Company (1) All properties and assets, movable and immovable, of, or belonging to, the inter-State co-operative society as on the date of transformation, shall vest in the Producer Company (2) All the rights, debts, liabilities, interests, privileges and obligations of the inter-State co-operative society as on the date of transformation

Effect of incorporation of Producer Company Every shareholder of the inter-State co-operative society immediately before the date of registration of Producer Company (hereafter in this Chapter referred to as the date of transformation) shall be deemed to be registered on and from that date as a shareholder of the Producer Company to the extent of

Option to inter-State co-operative societies to become Producer Companies (1) Notwithstanding anything contained in sub-section (1) of section 378C, any inter-State co-operative society with objects not confined to one State may make an application to the Registrar for registration as Producer Company under this Chapter. (2) Every application under sub-section (1) shall be accompanied by- (a) a

Amendment of articles (1) Any amendment of the articles shall be proposed by not less than two-thirds of the elected Directors or by not less than one-third of the Members of the Producer Company, and adopted by the Members by a special resolution (2) A copy of the amended articles together with the copy of the special resolution, both

Amendment of memorandum (1) A Producer Company shall not alter the conditions contained in its memorandum except in the cases, by the mode and to the extent for which express provision is made in this Act. (2) A Producer Company may, by special resolution, not inconsistent with section 378B, alter its objects specified in its

Articles of association (1) There shall be presented, for registration to the Registrar of the State to which the registered office of the Producer Company is, stated by the memorandum of association, to be situate- (a) memorandum of the Producer Company; (b) its articles duly signed by the subscribers to the memorandum. (2) The articles shall contain the following mutual assistance

Memorandum of Producer Company The memorandum of association of every Producer Company shall state (a) the name of the company with “Producer Company Limited” as the last words of the name of such Company; (b) the State in which the registered office of the Producer Company is to situate; (c) the main objects of the Producer Company