Section 378J — Option to inter -State co -operative societies to become Producer Companies

(1)
Notwithstanding anything contained in sub-section (1) of section 378C, any inter-State co-operative society
with objects not confined to one State may make an application to the Registrar for registration as Producer
Company under this Chapter.
(2) Every application under sub-section (1) shall be accompanied by—
(a) a copy of the special resolution, of not less than two -thirds of total members of inter-State co-
operative society, for its incorporation as a Producer Company under this Act;
(b) a statement showing—
(i) names and addresses or the occupation of the directors and the Chief Executive, if any, by
whatever name called, of such co-operative; and
(ii) list of members of such inter-State co-operative society;
(c) a statement indicating that the inter-State co-operative society is engaged in any one or more of
the objects specified in section 378B;
(d) a declaration by two or more directo rs of the inter -State co-operative society certifying that
particulars given in clauses (a) to (c) are correct.
(3) When an inter-State co-operative society is registered as a Producer Company, the words “Producer
Company Limited” shall form part of its name with any word or expression to show its identity preceding
it.
(4) On compliance with the requirements of sub-sections (1) to (3), the Registrar shall, within a period
of thirty days of the receipt of application, certify under his hand that the inter-State co-operative society
applying for registration is registered and thereby incorporated as a Producer Company under this Chapter.
(5) A co -operative society formed by producers, by federation or union of co-operative societies of
producers or co -operatives of producers, registered under any law for the time being in force which has
extended its objects outside the State, either directly or through a union or federation of co -operatives of
which it is a constituent, as the case may be, and any federation or unions of such co-operatives, which has
so extended any of its objects or activities outside the State, shall be eligible to make an application under
sub-section (1) and to obtain registration as a Producer Company under this Chapter.
(6) The inter-State co-operative society shall, upon registration under sub-section (1), stand transformed
into a Producer Company, and thereafter shall be governed by the provisions of this Chapter to the exclusion
of the law by which it was earlier governed, save in so f ar as anything done or omitted to be done before
its registration as a Producer Company, and notwithstanding anything contained in any other law for the
time being in force, no person shall have any claim against the co-operative institution or the company by
reason of such conversion or transformation.
(7) Upon registration as a Producer Company, the Registrar of Companies who registers the company