Restriction on other transactions with non-members of multi state cooperative society save as provided in sections 66 and 67, the transaction of a multi state cooperative society with any person other than a member, shall be subject to such prohibitions and restrictions, if any, as may be specified in the bye-laws of the multi state cooperative societies Act, 2002.

(1) Every appointment and remuneration of auditors for Multi State Cooperative Society shall cause to be audited by an auditor referred to in sub-section (2), its accounts at least once in each year.

The object of any general cooperative society shall be to unite, organize develop the multi state cooperative society engaged in procurement, processing, retailing, construction, mining related and akin activities; and to make them self reliant by promoting their economic, social and cultural interests by conduction its affairs in professional, democratic and autonomous manner through self help and mutual help through its indulgence/interventions and active research in professionalizing procurement/processing/retailing/ marketing and

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.

No Disqualification for a member of a board of any multi state cooperative society or nominee of a member society on a national cooperative society shall be eligible for being chosen as, or for being, a member of the board of such multi state society or national co-operative society or of any other cooperative society to which the multi State cooperative society is affiliated, if such member : ( a ) Has been adjudged by a competent court to

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 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.

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

Corporate body to be multi state cooperative society by registration of a multi state cooperative society it shall become a body corporate by the name under which it is registered. It shall have perpetual succession and a common seal and shall have power to acquire, hold and dispose of movable and immovable property, enter into contracts, institute and defend suits and other legal proceedings. It shall by the said name sue or be sued.