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of <h1>Producer Companies Must Keep Detailed Financial Records as Per Section 129 of Companies Act, 2013</h1> Every Producer Company must maintain proper books of account at its registered office, detailing all financial transactions, including money received and spent, sales and purchases, liabilities, and assets. For companies involved in production, processing, or manufacturing, records must also include details on material or labor utilization and other cost items. The balance sheet and profit and loss accounts should be prepared in accordance with section 129 of the Companies Act, 2013. These requirements were introduced by the Companies (Amendment) Act, 2020.
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