Title : Books and Papersof Company to Be Evidence
State : Central
Year : 1956
Where a company is being wound up, all books and papers of the company and of the liquidators shall, as between the contributories of the company be prima facie evidence of the truth of all matters purporting to be therein recorded. View Complete Act List Judgments citing this sectionTitle : Authentication of Statements of Existing Companies
State : Central
Year : 1956
The lists of members and directors and any other particulars relating to the company required to be delivered to the Registrar shall be duly verified by the declaration of any two or more directors or other principal officers of the company. View Complete Act List Judgments citing this sectionTitle : Powerof Registrar to Require Evidence as to Nature of Company
State : Central
Year : 1956
The Registrar may require such evidence as he thinks necessary for the purpose of satisfying himself whether any company proposing to be registered is or is not a joint-stock company as defined in section 566. View Complete Act List Judgments citing this sectionTitle : Changeof Name for Purposes of Registration
State : Central
Year : 1956
Where the name of a company seeking registration under this Part is one which in the opinion of the Central Government is undesirable, the company may, with the approval of the Central Government signified in writing, change its name with effect from the date of its registration under this Part: Provided that the like assent of the members of the company shall be required to the change of name as is required by section 565 to the registration of the company under this Part. View Complete Act List Judgments citing this sectionTitle : Objects of Producer Company
State : Central
Year : 1956
(1) The objects of the Producer Company shall relate to all or any of the following matters, namely:-- (a) production, harvesting, procurement, grading, pooling, handling, marketing, selling, export of primary produce of the Members or import of goods or services for their benefit: Provided that the Producer Company may carry on any of the activities specified in this clause either by itself or through other institution; (b) processing including preserving, drying, distilling, brewing, vinting, canning and packaging of produce of its Members; (c) manufacture, sale or supply of machinery, equipment or consumables mainly to its Members; (d) providing education on the mutual assistance principles to its Members and others; (e) rendering technical services, consultancy services,..... View Complete Act List Judgments citing this sectionTitle : Benefits to Members
State : Central
Year : 1956
(1) Subject to provisions made in articles, every Member shall initially receive only such value for the produce or products pooled and supplied as the Board of Producer Company may determine, and the withheld price may be disbursed later in cash or in kind or by allotment of equity shares, in proportion to the produce supplied to the Producer Company during the financial year to such extent and in such manner and subject to such conditions as may be decided by the Board. (2) Every Member shall, on the share capital contributed, receive only a limited return: Provided that every such Member may be allotted bonus shares in accordance with the provisions contained in section 581ZJ. (3) The surplus if any, remaining after making provision for payment of limited return and reserves..... View Complete Act List Judgments citing this sectionTitle : Effect of Incorporation of Producer Company
State : Central
Year : 1956
Every shareholder of the inter-State co-operative society immediately before the date of registration of Producer Company (hereafter referred to as the transformation date) shall be deemed to be registered on and from that date as a shareholder of the Producer Company to the extent of the face value of the shares held by such shareholder. View Complete Act List Judgments citing this sectionTitle : Number of Directors
State : Central
Year : 1956
Every Producer Company shall have at least five and not more than fifteen directors: Provided that in the case of an inter-State co-operative society incorporated as a Producer Company, such company may have more than fifteen directors for a period of one year from the date of its incorporation as a Producer Company. View Complete Act List Judgments citing this sectionTitle : Appointment of Directors
State : Central
Year : 1956
(1) Save as provided in section 581N, the Members who sign the memorandum and the articles may designate therein the Board of directors (not less than five) who shall govern the affairs of the Producer Company until the directors are elected in accordance with the provisions of this section. (2) The election of directors shall be conducted within a period of ninety days of the registration of the Producer Company: Provided that in the case of an inter-State co-operative society which has been registered as a Producer Company under sub-section (4) of section 581J in which at least five directors [including the directors continuing in office under sub-section (1) of section 581N] hold office as such on the date of registration of such company, the provisions of this sub-section shall..... View Complete Act List Judgments citing this sectionTitle : Matters to Be Transacted at General Meeting
State : Central
Year : 1956
(1) The Board of directors of a Producer Company shall exercise the following powers on behalf of that company, and it shall do so only by means of resolutions passed at the annual general meeting of its Members, namely: (a) approval of budget and adoption of annual accounts of the Producer Company; (b) approval of patronage bonus; (c) issue of bonus shares; (d) declaration of limited return and decision on the distribution of patronage; (e) specify the conditions and limits of loans that may be given by the Board to any director; and (f) approval of any transaction of the nature as is to be reserved in the articles for approval by the Members. View Complete Act List Judgments citing this section