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of <h1>Producer Company Board May Offer Financial Assistance Under Section 581ZK; Member Approval Needed for Director Loans</h1> The Board of a Producer Company, as per Section 581ZK of the Companies Act, 1956, can offer financial assistance to its members. This assistance can be in the form of a credit facility related to the company's business for up to six months or loans and advances secured as per the company's articles, repayable between three months to seven years. Any loans or advances to a director or their relative require approval from the members in a general meeting.
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