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Seed Cooperative Society

 

New Delhi: The Minister of Cooperation, Shri Amit Shah in a written reply to a question in the Lok Sabha on Tuesday said that Ministry of Cooperation has set up Bhartiya Beej Sahkari Samiti Limited under the Multi- State Cooperative Societies (MSCS) Act, 2002. The BBSSL will undertake production, procurement & distribution of quality seeds under single brand through cooperative network to improve crop yield and develop a system for preservation and promotion of indigenous natural seeds. The BBSSL has provision of two kinds of members, as per details given below:

(i)   Ordinary Members: The following shall be eligible to become ordinary member of the BBSSL:-

  1. Any multi-State co-operative society or any co-operative society;
  2. The National Co-operative Development Corporation (NCDC) established under the National Co-operative Development Corporation Act, 1962 (26 of 1962);
  3. Any other corporation owned or controlled by the Government;
  4. Such class or classes of persons or associations of persons as may be permitted by the Central Registrar having regard to the nature and activities of the Society.

No individual shall be eligible to become ordinary member of the BBSSL.

Ordinary members shall subscribe to share capital as per following classification of membership:-

  1. Class-1: Co-operative organizations such as Indian Farmers Fertilizer Cooperative Limited (IFFCO), Krishak Bharti Co-operative Limited (KRIBHCO), National Agricultural Co- operative Marketing Federation of India Limited (NAFED), National Co-operative Development Corporation (NCDC) and National Dairy Development Board (NDDB) shall each purchase at least 5,00,000 shares of the face value of ₹1,000/- each;
  2. Class-2: A State level co-operative society, other than mentioned in sub-clause (i) shall subscribe at least 1000 shares of the face value of ₹1,000/- each;
  • Class-3: A National co-operative society, other than mentioned in sub-clause (i) and a multi-state cooperative society, not designated as national cooperative society, shall purchase at least 500 shares of the face value of ₹1,000/- each;
  1. Class-4: A co-operative society, other than a State level or primary co-operative society, shall purchase at least 10 shares of the face value of ₹ 1,000/- each;
  2. Class-5: A primary level co-operative society shall purchase one share of the face value of₹ 1,000/-; and
  3. Class-6: Such class or classes of persons or associations of persons as may be permitted to become members under clause 7(1) (d) shall purchase at least 2 shares of the face value of₹1,000/- each.

Value of shares shall be paid in full at one time and Share Certificate shall be issued on realization of the full amount of shares subscribed for.

(ii) Nominal or associate member: The Society may, in the interest of promotion of its business, admit any other person as nominal member or associate member in accordance with the provisions of the Multi-State Co-operative Societies Act on payment of a non- refundable fee of ₹1,00,000/- (Rupees One Lakh only).

Any company created or incorporated under the Companies Act/Producer Companies Act, except a Government Company, can only become an Associate or Nominal Member.

As per information provided by BBSSL, so far they have received 8,200 applications for membership under different classes from 27 States/UTs.

As per bye laws of the BBSSL, the following mechanism is in place for monitoring and evaluating the performance and impact of the society:-

  1. During the Annual General Meeting (AGM), the society shall scrutinize the actual utilization of reserves and other funds, and review the annual report and accounts of subsidiary institutions of the society.
  2. The Society shall at each Annual General Meeting (AGM), appoint an auditor or auditors as per provisions contained in MSCS Act, 2002. The auditor shall present the report at each annual general meeting.
  3. Central Government may at any time by order direct a special audit of the society’s accounts. Upon receiving the report, the Central Government may undertake any necessary actions in accordance with the provisions of the MSCS Act or any other prevailing laws.
  4. The audit report of the accounts of the BBSSL shall be laid before each House of Parliament.

 

VARANASI TRAVEL VARANASI YATRAA
SHREYAN FIRE TRAINING INSTITUTE VARANASI

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