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October 2012

Conditions imposed for Conversion of Ordinary Society into Producer Company, under part-IX A of the Companies Act, 1956.

By Sejal Vasa, Company Secretary
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The Ministry of Corporate Affairs has vide circular No .29/2012 dated 10th September 2012 issued the conditions to be imposed for conversion of ordinary Society into producer Company, Part-IX A of the Companies Act, 1956.

On receipt of an application for conversion of a Co-operative Society into a Producer Company, the ROC’s will seek a written consent from the local Co-operative Department of the concerned state, certifying that the Society desirous of being converted into a Producer Company, under part IX A of the Companies Act, 1956, has no dues payable to the State at the time of such conversion and the Cooperative Department has ‘no objection’ to its being converted into a Producer Company. Further, the ROC’s need to satisfy themselves fully that the applicant society has indeed extended its activities outside the State where it is registered a Co-operative Society under the local/State level Law governing Co-operative Societies which are not inter State Co-operative Societies.

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