Sec 581B of Companies Act, 1956: Producer Companies
#producercompany #producer #production #privatecompanies #company #typesofcompanies #companiesact #companiesact1956 To enable cooperatives to operate as corporate entities under the ministry of corporate affairs, the idea of a producer company was introduced. In order to allow for the incorporation of producer companies, the Ministry of Company Affairs in India has proposed a Bill to amend the Companies Act, 1956 by inserting Part IX A. The Act has made it possible for primar