NISHANT
Maintainability in the case of producer company under part IXA of the Companies act, 1956- shall producer company continue to be governed by the provision in part IXA of 1956 Act, though repealed, until a special Act is enacted - Sections 241 and 242
NISHANT MEHROTRA 23 Nov 2019

Maintainability in the case of producer company under part IXA of the Companies act, 1956- shall producer company continue to be governed by the provision in part IXA of 1956 Act, though repealed, until a special Act is enacted - Sections 241 and 242


NCLAT :: Maintainability in the case of producer company under part IXA of the Companies act, 1956- shall producer company continue to be governed by the provision in part IXA of 1956 Act, though repealed, until a special Act is enacted - Sections 241 and 242 - Provisions of sections 241-242 of the  Companies Act, 2013 cannot be invoked for settlement of disputes regarding oppression and mismanagement of a producer company. Such disputes would continue to be resolved through conciliation or arbitration, as the repealing provision of Companies Act,1956 provided that while the Act stood repealed, provisions of part IXA shall be applicable mutatis mutandis to a producer company as if the Act had not been repealed, and further that part IXA shall continue to govern producer companies until a special Act was enacted for producer companies, which have been treated as a class apart and were not intended to be governed by the Companies Act, 2013.


Case:

Kozihikode Coconut Farmers Producer Co. Ltd. V. Moolath Mannil Sreenivasan



Did you find this write up useful? YES 0 NO 0
Send
Featured Members view all

New Members view all

×

C2RMTo Know More

Something Awesome Is In The Work

0

DAYS

0

HOURS

0

MINUTES

0

SECONDS

Sign-up and we will notify you of our launch.
We’ll also give some discount for your effort :)

* We won’t use your email for spam, just to notify you of our launch.