https://www.taxtmi.com/acts?id=13001 Section 581N provides that officers and employees of an inter-State co-operative society employed immediately before transformation transfer to the Producer Company for the vested undertaking and continue on the same tenure, remuneration, terms, conditions, rights and benefits; those who opt out are deemed resigned; retired persons retain entitlements; provident and gratuity trusts and tax exemptions continue; and no compensation claims arise from such transfers, nor may directors or principal managers claim compensation for loss of office arising from the transformation. en-us Wed, 18 May 2011 17:01:47 +0530 Wed, 18 May 2011 17:01:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=13001 Section 581N provides that officers and employees of an inter-State co-operative society employed immediately before transformation transfer to the Producer Company for the vested undertaking and continue on the same tenure, remuneration, terms, conditions, rights and benefits; those who opt out are deemed resigned; retired persons retain entitlements; provident and gratuity trusts and tax exemptions continue; and no compensation claims arise from such transfers, nor may directors or principal managers claim compensation for loss of office arising from the transformation. Act-Rules Companies Law Wed, 18 May 2011 17:01:47 +0530 https://www.taxtmi.com/acts?id=13001