Amended and updated notes on section 378K of the Companies Act 2013 as amended by the Companies (Amendment) Act, 2020 and Company Rules made there under. Detail discussion on provisions and rules related to Effect of incorporation of Producer Company.
Chapter XXIA PART-II (Sections 378B to 378N) of the Companies Act 2013 (CA 2013) deals with the provisions related to incorporation of producer companies and other matters. Section 378K of CA 2013 provides for Effect of incorporation of Producer Company.
Recently, we have discussed in detail section 378J (Option to inter-State co-operative societies to become Producer Companies) of CA 2013. Today, we learn the provisions of section 378K of the Companies Act 2013.
In exercise of the powers conferred by sub-section (2) of section 1 of the Companies (Amendment) Act, 2020 (29 of 2020), the Central Government appoints the 11th February, 2021 as the date on which the provisions of section 52 of the Companies (Amendment) Act, 2020 shall come into force.
Accordingly, the provisions of section 378K are effective from 11th February, 2021. You may refer Notification No. S.O. 644(E) dated 11-02-2021. In this article, you will learn detail of the provisions of section 378K the Companies Act 2013.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | XXIA (PART-II) |
| Chapter Name | Incorporation of Producer Companies and other matters |
| Section No. | 378K |
| Section Name | Effect of incorporation of Producer Company |
| Monthly Updated Edition | Company Law PDF |
Section 378K: Effect of incorporation of Producer Company
Every shareholder of the inter-State co-operative society immediately before the date of registration of Producer Company (hereafter in this Chapter referred to as the date of transformation) shall be deemed to be registered on and from that date as a shareholder of the Producer Company to the extent of the face value of the shares held by such shareholder.