Reconversion of producer company requires member or creditor approval and High Court sanction before cooperative registration. Reconversion is available to a Producer Company that was an erstwhile inter State co operative society by application to the High Court following a members' resolution or creditor request; the Court will direct meetings and reconversion requires approval by a majority in number representing three quarters in value of those present and voting and High Court sanction. The Court must be satisfied all material facts are disclosed; the sanction takes effect only after a certified copy is filed with the Registrar, non filing attracts fines, the Court may stay proceedings, and the sanctioned company must apply for multi state co operative registration within six months and report to relevant registrars.