(1) The multi state cooperative society may receive deposits, raise loans and receive grants from external sources to such extent and under such conditions as may be specified in the bye-laws: Provided that the total amount of deposits and loans received during any financial year shall not exceed ten times of the sum of subscribed share capital and accumulated reserves.

(l) A special notice shall be required for a Provision as to resolutions for appointing or removing auditors of multi state society at an annual general meeting appointing as auditor a person other than a retiring auditor, or providing expressly that a retiring auditor shall not be re-appointed.(2) On receipt of notice of such a resolution, the credit cooperative society shall forthwith send a copy thereof to the retiring auditor.

(1) Contributory provident fund established by Multi State Cooperative Society in the subject to the provisions of the Employees Provided Fund and Miscellaneous to be Provisions Act, 1952 (19 of 1952), a Multi state cooperative society having such number or class of employees as may be prescribed, may establish a contributory provident fund for the benefit of its employees to which shall be credited all contributions made by the employees and the society in accordance with the bye-laws of the society.

Conversion of Producer Company into MSCS The Companies (Amendment of Multi State Cooperative Society) Act 2002 vides notification no. S.O. 135 (E) inserted part IX – A of the Companies Act, 1956 (hereinafter referred to as “the Act”) and introduced the concept of Producer Company[1].

Multi state cooperative society in India are types of associations that take care of its members. These are the associations that are helpful in avoiding the layers of middle level men in any products. The first and foremost effect of this organization is to provide cheap credit to the farmer and protect them from the exploitation. The money lenders are the people who suck all the energy of the farmers and leave them in the darkness of poverty.

(1) There shall be a Chief Executive of multi state cooperative society , by whatever designation called, of every multi state cooperative society to be appointed by the board and he shall be a full-time employee of such multi state cooperative society.

The UNITED multi state cooperative society is a multi state cooperative society registration , duly registered under Delhi cooperative society act 2001 by registration No 724/CL/2010. The united multi state cooperative society registration ltd. strictly abides by the credit cooperative society act 2001 and doing powers and functions of board in business among its members. The promoters of the United multi state cooperative society ltd.

The Companies Act 2002 vides notification no. S.O. 135 (E) inserted part IX ‐ A of the Companies Act, 1956 (hereinafter referred to as “the Act) and introduced the concept of Producer Company[1]. In the year 2002 an expert committee led by noted economist framed legislation for incorporation of a producer company, and conversion into multi state cooperative society into a producer company and its recon version into cooperative society.

Marketing Development Federation of India Limited (TRIFED) was established by the Government of India in the year 1987 as a credit cooperative society by registration under the multi state cooperative societies Act, 1984 (now the multi state society Act, 2002.

The Bill proposes to amend the House panel seeks feedback on multi state cooperative society Act 2002:- (a) to make the management of these credit cooperative society more responsible to the members and accountable by making provision for I) constitution of Interim Board (ii) accounting standards (iii) constitution of Audit and Ethics commenting on scenarios for the euro zone (iv) calling for information or explanation by the central registr