Amended and updated notes on section 378M 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 Concession, etc., to be deemed to have been granted to 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 378M of CA 2013 provides for Concession, etc., to be deemed to have been granted to Producer Company.
Recently, we have discussed in detail section 378L (Vesting of undertaking in Producer Company) of CA 2013. Today, we learn the provisions of section 378M 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 378M 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 378M 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. | 378M |
| Section Name | Concession, etc., to be deemed to have been granted to Producer Company |
| Monthly Updated Edition | Company Law PDF |
Section 378M: Concession to be deemed to have been granted to Producer Company
With effect from the date of transformation, all fiscal and other concessions, licences, benefits, privileges and exemptions granted to the inter-State co-operative society in connection with the affairs and business of the inter-State co-operative society under any law for the time being in force shall be deemed to have been granted to the Producer Company.