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of <h1>Section 378P of Companies Act: Guidelines for Appointing Directors in Producer Companies, Election Timelines, and Terms Explained.</h1> Section 378P of the Companies Act, 2013, outlines the appointment of directors for a Producer Company. Initially, members who sign the memorandum and articles can designate a minimum of five directors to manage the company until formal elections occur. Elections must be held within ninety days of registration, except for inter-State cooperative societies, which have 365 days. Directors serve terms between one and five years, as specified in the articles, and are eligible for reappointment. Members elect directors at the annual general meeting, and the Board may co-opt expert or additional directors, though their voting rights are limited.
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