Companies Act, 2013
Section - 378ZS - Re-conversion of Producer Company to inter-State co-operative society
PART XIIRE-CONVERSION OF PRODUCER COMPANY TO INTER-STATE CO-OPERATIVE SOCIETYRe-conversion of Producer Company to inter-State co-operative society.378ZS. (1) Any Producer Company, being an erstwhile inter-State co-operative society, formed and registered under this Chapter, may make an application-
to the Tribunal for its re-conversion to the inter-State co-operative society.(2) The Tribunal 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-fourths in value of the creditors, or Members, as the case may be, present and voting in person at the meeting conducted in pursuance of the directions of the Tribunal under sub-section (2), agree for re-conversion, if sanctioned by the Tribunal, be binding on all the Members and all the creditors, as the case may be, and also on the company which is being converted:.... To read the full section download the app from Google Play store
| (a) | - | after passing a resolution in the general meeting by not less than two-thirds of its Members present and voting; or |
| (b) | - | on request by its creditors representing three-fourth value of its total creditors, |
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