https://www.taxtmi.com/article/detailed?id=6530 Producer companies are corporate entities formed by producers under company law, with limited member liability, membership-linked single-vote principles for individuals, patronage-proportional equity shares that are generally non-transferable, and rights to patronage-based returns, bonus shares and surplus. Governance requires a board of five to fifteen directors elected by members, a full-time Chief Executive (non-member), and, above a turnover threshold, a whole-time Company Secretary. Statutory obligations include regular board meetings, annual general meetings with filing of accounts, maintenance of books, internal audit, auditor duties, regulated lending, reserve requirements and specified penalties for non-compliance. en-us Wed, 18 Nov 2015 09:39:54 +0530 Wed, 18 Nov 2015 09:39:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6530 Producer companies are corporate entities formed by producers under company law, with limited member liability, membership-linked single-vote principles for individuals, patronage-proportional equity shares that are generally non-transferable, and rights to patronage-based returns, bonus shares and surplus. Governance requires a board of five to fifteen directors elected by members, a full-time Chief Executive (non-member), and, above a turnover threshold, a whole-time Company Secretary. Statutory obligations include regular board meetings, annual general meetings with filing of accounts, maintenance of books, internal audit, auditor duties, regulated lending, reserve requirements and specified penalties for non-compliance. Articles Corporate Laws / IBC / SEBI Wed, 18 Nov 2015 09:39:54 +0530 https://www.taxtmi.com/article/detailed?id=6530