Section 2(1)(e) in The M.P. Krishi Upaj Mandi Adhiniyam, 1972

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State of Madhya Pradesh - Subsection

Section 2(1)(e) in The M.P. Krishi Upaj Mandi Adhiniyam, 1972

(e)"Commission Agent" means a person who on behalf of his principal [trader] [Inserted by M.P. Act No. 24 of 1986 (w.e.f. 21-7-1986).] and in consideration of a commission or percentage upon the amount involved in such transaction buys agricultural produce and makes payment in cash, keeps it in his custody and delivers it to the principal [trader] [Inserted by M.P. Act No. 24 of 1986 (w.e.f. 21-7-1986).] in due course or who receives and takes in his custody agricultural produce sent for sale [within the market area or from outside the market area] [Substituted by M.P. Act No. 18 of 1979 (w.e.f. 7-6-1979).], sells the same in the market area and collects payment therefor from the buyer and remits the sale proceeds to his principal [trader] [Inserted by M.P. Act No. 24 of 1986 (w.e.f. 21-7-1986).];

(ee)[ "Contract farming" means farming of agricultural produce on contract basis by a person on his land under a written agreement with another person to the effect that his farm produce shall be purchased at a rate specified in the agreement;] [Inserted by M.P. Act No. 15 of 2003 (w.e.f. 15-6-2003).]

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State of Madhya Pradesh - Subsection

Section 2(1)(e) in The M.P. Krishi Upaj Mandi Adhiniyam, 1972