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

Benefits to Members (1) Subject to the provisions made in articles, every Member shall initially receive only such value for the produce or products pooled and supplied as the Board of Producer Company may determine, and the withheld price may be disbursed later in cash or in kind or by allotment of equity shares, in proportion

Membership and voting rights of Members of Producer Company (1)(a) In a case where the membership consists solely of individual Members, the voting rights shall be based on a single vote for every Member, irrespective of his shareholding or patronage of the Producer Company. (b) In a case where the membership consists of Producer Institutions

Formation of Producer Company and its registration (1) Any ten or more individuals, each of them being a producer or any two or more Producer Institutions, or a combination of ten or more individuals and Producer Institutions, desirous of forming a Producer Company having its objects specified in section 378B and otherwise complying with the