Section 581N(7) in The Companies (Amendment) Act, 2002
(7)Notwithstanding anything contained in this Act or in any other law for the time being in force or in the regulations of the inter- State co- operative society, no director of the Board, Chairman, Managing Director or any other person entitled to manage the whole or substantial part of the business and affairs of the inter- Stateco- operative society shall be entitled to any compensation against the inter- Stateco- operative society or the Producer Company contract of management entered into by him with the inter- State co- operative society. for the loss of office or for the premature termination of any.CHAPTER III MANAGEMENT OF PRODUCER COMPANY
