Option to convert inter-State co-operative societies into Producer Companies enables registration and transformation under company law. Inter-State co-operative societies with objects beyond one State may apply to register as a Producer Company by filing a special two thirds members' resolution, statements of directors, members and qualifying objects, and director declarations; upon compliance the Registrar will certify registration, the society's name will include 'Producer Company Limited', and the society will be transformed and governed by the Producer Company provisions to the exclusion of its prior law, with the Registrar notifying the prior registrar for deletion.
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Provisions expressly mentioned in the judgment/order text.
Option to convert inter-State co-operative societies into Producer Companies enables registration and transformation under company law.
Inter-State co-operative societies with objects beyond one State may apply to register as a Producer Company by filing a special two thirds members' resolution, statements of directors, members and qualifying objects, and director declarations; upon compliance the Registrar will certify registration, the society's name will include "Producer Company Limited", and the society will be transformed and governed by the Producer Company provisions to the exclusion of its prior law, with the Registrar notifying the prior registrar for deletion.
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