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Introducing the βIn Favour Ofβ filter in Case Laws.
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<h1>New Chapter in Companies Act Focuses on Producer Companies: Formation, Management, Financial Provisions, and More under Chapter XXIA.</h1> The Companies (Amendment) Act, 2020 introduces Chapter XXIA to the principal Act, focusing on Producer Companies. This chapter defines key terms related to Producer Companies and outlines their objectives, which include activities like production, marketing, processing, and education. It details the formation, membership, and voting rights within Producer Companies, emphasizing mutual assistance principles. The Act specifies the management structure, including the roles of directors and the Chief Executive, and outlines financial provisions like share capital, loans, and investments. It also covers the processes for amalgamation, merger, and dispute resolution, and provides for the re-conversion of Producer Companies to inter-State cooperative societies.