Companies Act, 1956
Section - 581ZS - Reconversion of Producer Company to inter-State co-operative society
CHAPTER XIIRECONVERSION OF PRODUCER COMPANY TO INTER-STATE CO-OPERATIVE SOCIETYReconversion of Producer Company to inter-State co-operative society.581ZS. (1) Any Producer Company, being an erstwhile inter-State co-operative society, formed and registered under this Part, may make an application— (a) after passing a resolution in the general meeting by not less than two-third of its Members present and voting; or (b) on request by its creditors representing three-fourth value of its total creditors,to the High Court for its reconversion to the inter-State co-operative society.(2) The High Court shall, on the application made under sub-section (1), direct holding meeting of its Members or such creditors, as the case may be, to be conducted in such manner as it may direct.(3) If a majority in number representing three-f .... To read the full section download the app from Google Play store
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