Can anybody tell me that
A ) Can handicrafts will be considered as 'primary produce' under the ambit of producers company?
b) PIDT as an institution can be in the board as a 'person'?
(C) The appointed person who will be managing most of the company affairs needs to be a producer also?
Dear Shweta,
1. Handicrafts will be considered as primary produce under sec.581A(j)(ii).
2. Producer institution may become member of the producer company.
3. Directors of the board shall be elected or appointed by the memebers in the AGM, sec.581P(5).
4. The appointed person who manages most of the functions shall be a persons other than a member appointed by the board.
CAclubindia
