Title : Share Capital
State : Central
Year : 1956
(1) The share capital of a Producer Company shall consist of equity shares only. (2) The shares held by a Member in a Producer Company, shall as far as may be, be in proportion to the patronage of that company. View Complete Act List Judgments citing this sectionTitle : Special User Rights
State : Central
Year : 1956
(1) The producers, who are active Members may, if so provided in the articles, have special rights and the Producer Company may issue appropriate instruments to them in respect of such special rights. (2) The instruments of the Producer Company issued under sub-section (1) shall, after obtaining approval of the Board in that behalf, be transferable to any other active Member of that Producer Company. Explanation.-For the purposes of this section, the expression "special right" means any right relating to supply of additional produce by the active Member or any other right relating to his produce which may be conferred upon him by the Board. View Complete Act List Judgments citing this sectionTitle : Duties of Auditor Under Thispart
State : Central
Year : 1956
Without prejudice to the provisions contained in section 227, the auditor shall report on the following additional matters relating to the Producer Company, namely: (a) the amount of debts due along with particulars of bad debts if any: (b) the verification of cash balance and securities; (c) the details of assets and liabilities; (d) all transactions which appear to be contrary to the provisions of this Part; (e) the loans given by the Producer Company to the directors; (f) the donations or subscriptions given by the Producer Company; (g) any other matter as may be considered necessary by the auditor. View Complete Act List Judgments citing this sectionTitle : Donations or Subscription Byproducer Company
State : Central
Year : 1956
(1) A Producer Company may, by special resolution, make donation or subscription to any institution or individual for the purposes of (a) promoting the social and economic welfare of Producer Members or producers or general public; or (b) promoting the mutual assistance principles: Provided that the aggregate amount of all such donation and subscription in any financial year shall not exceed three per cent. of the net profit of the Producer Company in the financial year immediately preceding the financial year in which the donation or subscription was made: Provided further that no Producer Company shall make directly or indirectly to any political party or for any political purpose to any person any contribution or subscription or make available any facilities including..... View Complete Act List Judgments citing this sectionTitle : General and Other Reserves
State : Central
Year : 1956
(1) Every Producer Company shall maintain a general reserve in every financial year, in addition to any reserve maintained by it as may be specified in articles. (2) In a case where the Producer Company does not have sufficient funds in any financial year for transfer to maintain the reserves as may be specified in articles, the contribution to the reserve shall be shared amongst the Members in proportion to their patronage in the business of that company in that year. View Complete Act List Judgments citing this sectionTitle : Office Where Documents to Be Delivered
State : Central
Year : 1956
(1) Any document which any foreign company is required to deliver to the Registrar shall be delivered to the Registrar having jurisdiction over New Delhi, and references to the Registrar in this Part [except in sub-section (2)] shall be construed accordingly. (2) Any such document as is referred to in sub-section (1) shall also be delivered to the Registrar of the State in which the principal place of business of the company is situate. (3) If any foreign company ceases to have a place of business in India, it shall forthwith give notice of the fact to the Registrar, and as from the date on which notice is so given, the obligation of the company to deliver any document to the Registrar shall cease, provided it has no other place of business in India. View Complete Act List Judgments citing this sectionTitle : Company's failure to comply with Part not to affect its liability under contracts, etc.
State : Central
Year : 1956
Any failure by a foreign company to comply with any of the foregoing provisions of this Part shall not affect the validity of any contract, dealing or transaction entered into by the company or its liability to be sued in respect thereof; but the company shall not be entitled to bring any suit, claim any set-off, make any counter-claim or institute any legal proceeding in respect of any such contract, dealing or transaction, until it has complied with the provisions of this Part. View Complete Act List Judgments citing this sectionTitle : Penalty for Delay in Reinstating Streets
State : Central
Year : 1857
If the said Company open or break up any street or bridge, or any sewer, drain, or tunnel, without giving such notice as aforesaid, or in a manner different from that which shall have been approved of or determined as aforesaid, or without making such temporary or other works as aforesaid, when so required, except in the cases in which the said Company are hereby authorized to perform such works without any superintendence or notice; or if the said Company make any delay in completing any such work, or in filling in or the sewer, drain, or tunnel so opened or broken up, or in carrying away the rubbish occasioned thereby; or if they neglect to cause the place where such road or pavement has been broken up to be fenced, guarded, and lighted, or neglect to keep the road or pavement in..... View Complete Act List Judgments citing this sectionTitle : Power to Enter Buildings for Ascertaining Quantity of Gas Consumed
State : Central
Year : 1857
The Clerk, Engineer, or other officer duly appointed for the purpose by the said Company, may, at all reasonable times, enter any buildings or place lighted with Gas supplied by the said Company, in order to inspect the meters, fittings, and works for regulating the supply of Gas consumed or supplied ; and if any person hinder such officer as aforesaid from entering and making such inspection as aforesaid at any reasonable time, he shall, for every such offence, forfeit to the said Company a sum not exceeding fifty rupees. View Complete Act List Judgments citing this sectionTitle : Recovery of Rent Due for Gas
State : Central
Year : 1857
If any person supplied with Gas, or any person to whom any meter of fitting shall have been let for hire by the said Company, the said Company may stop the Gas from entering the premises of such person, by cutting off the service-pipes, or by such means as the said Company shall think fit, and recover the rent due from such person, together with the expenses if cutting off the Gas, by action in any Court of competent jurisdiction. View Complete Act List Judgments citing this section