Objects of Producer Company (1) The objects of the Producer Company shall relate to all or any of the following matters, namely:― “(a) production, harvesting, procurement, grading, pooling, handling, marketing, selling, export of primary produce of the Members or import of goods or services for their benefit: Provided that the Producer Company may carry on […]

Definitions In this Chapter, unless the context otherwise requires,— (a) “active Member” means a Member who fulfils the quantum and period of patronage of the Producer Company as may be required by the articles; (b) “Chief Executive” means an individual appointed as such under sub-section (1) of section 378W; (c) “inter-State co-operative society” means a multi-State

Saving and Construction of Enactments Conferring Power to Wind Up Partnership Firm, Association or Company, etc., in Certain Cases Nothing in this Part, shall affect the operation of any enactment which provides for any partnership firm, limited liability partnership or society or co-operative society, association or company being wound up, or being wound up as a company or as

Provisions of Chapter Cumulative (1) The provisions of this Part, with respect to unregistered companies shall be in addition to and not in derogation of, any provisions hereinbefore in this Act contained with respect to the winding up of companies by the Tribunal. (2) The Tribunal or Official Liquidator may exercise any powers or do any act in the

Power to Wind Up Foreign Companies, Although Dissolved Where a body corporate incorporated outside India which has been carrying on business in India, ceases to carry on business in India, it may be wound up as an unregistered company under this Part, notwithstanding that the body corporate has been dissolved or otherwise ceased to exist as such under or by virtue

Winding Up of Unregistered Companies (1) Subject to the provisions of this Part, any unregistered company may be wound up under this Act, in such manner as may be prescribed, and all the provisions of this Act, with respect to winding up shall apply to an unregistered company, with the exceptions and additions mentioned in sub-sections (2)

Obligations of Companies Registering Under this Part Every company which is seeking registration under this Part shall,— (a) ensure that secured creditors of the company, prior to its registration under this Part, have either consented to or have given their no objection to company’s registration under this Part; (b) publish in a newspaper, advertisement one in English

Suits stayed on winding up order Where an order has been made for winding up, or a provisional liquidator has been appointed for, a company registered in pursuance of this Part, no suit or other legal proceeding shall be proceeded with or commenced against the company or any contributory of the company in respect of any debt of the company, except by leave

Power of Court to stay or restrain proceeding The provisions of this Act 1[“or of the Insolvency and Bankruptcy Code, 2016, as the case may be”] with respect to staying and restraining suits and other legal proceedings against a company at any time after the presentation of a petition for winding up and before the making of a winding up

Effect of registration under this Part (1) When a company is registered in pursuance of this Part, sub-sections (2) to (7) shall apply. (2) All provisions contained in any Act of Parliament or any other law for the time being in force, or other instrument constituting or regulating the company, including, in the case of a company registered as