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of <h1>Section 378ZS: How Producer Companies Re-Convert into Inter-State or Multi-State Co-Operative Societies with Member and Creditor Approval</h1> Section 378ZS permits a Producer Company that was formerly an inter-State co-operative society to seek re-conversion into an inter-State or multi-State co-operative society. Application to the Tribunal may follow a two-thirds member resolution or a request by creditors holding three-fourths in value. The Tribunal directs meetings and, if three-fourths in value approve and the Tribunal sanctions after full disclosure of material facts, the decision binds all members, creditors, and the company. The order is effective only upon filing with the Registrar and must be annexed to constitutional documents, with fines for default. The Tribunal may stay proceedings during consideration, and the re-converted entity must register under relevant co-operative law within six months and report to prescribed authorities.
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