Producer companies

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 February 2012 Q1 :if no. of directors are only two at the time of conversion of ISCS(inter state cooperative societies)then whats tge provision of time for election as accordingto sec 581P?as min directors req is 5?

Q2 :what is the relevance of this line in sec 581P that there must be at least 5 directors on the date of conversion ?
plz explain in detail

CA Sumat Singhal

CA Sumat Singhal (Expert)
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20 February 2012 Three hundred and sixty-five days

Just the name has to be given, Members who sign the memorandum and the articles may designate therein the Board of directors (not less than five) for governing the affairs of the Producer Company until the directors are elected within a period of ninety days of the registration of the Producer Company :

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