(1) This Act may be called the Madhya Pradesh Rajya Beej Evam Farm Vikas Short title and extent.Nigam Adhiniyam, 1980.
(2) It extends to the whole of the State of Madhya Pradesh.
2. In this Act, unless the context otherwise requires,-
(a) "Bank" means a banking company as defined in the Banking Regulation Act, 1949 (No. 10 of 1949) and includes :-
(i) the State Bank of India constituted under the State Bank of India Act, 1955 (No. 23 of 1955) ;
(ii) a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (No. 38 of 195.9) ;
(ill) a corresponding new bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (No. 5 of 1970);
(iv) the Agricultural Refinance and Development Corporation constituted under the Agricultural Refinance and Development Corporation Act, 1963 (No. 10 of 1963) ;
(vi) il/~.. t.J f',.
(vii) , i
(v) the Agricultural Finance Corporation Limited, a company incorporated under the Companies Act, 1956 (No. 1 of 1956) ;
a financing bank as defined dn the Madhya Pradesh Co-operative Societies Act, 1960 (No. 17 of 1961}; and any ot!her banking institution that may be notified by the State Government to be a bank for the purpose of this Act.
(b) "Beej or seed" means seeds of food grains, fibre crops, plantation crops, oil seeds, commercial crops, vegetables, fruits and fodder and includes seedlings, tubers, bulbs, rehizomes, roots or stem cuttings (rooted or unrooted) grafts and all other vegetatively propagated plant materials;
(c) "Board" means the Board of Directors of the Nigam constituted undersection 8 ;
(d) "Financing Institution" means any statutory corporation or other body corporate established in India which has one of its. objects the financing of agriculture in India and which is notified, by the State Government to be a financing institution for the purposes of this Act;
(e) "Land" shall have the same meaning as assigned to tha.t expression under the Madhya Pradesh Land Revenue Code, 1959 (No. 20 of 1959);
Defmitions, 1806 Evam FaJ;1Il Vikas Nigam(f) "Nigam" means the Madhya Pradesh Rajya Beej established under this Act;
fop
(g) "Farm" means an area of land belonging to the Nigam or not which is use.'> or proposed to be used for agricultural farm for the production of seeds;
(h) "Project" meIDS any project or scheme for seeds and farm development approved under section 25 ;
(i) "Regulation' means regulations made by the Nigam under section 41 ;
(j) "Works" includes any work relating to organisation, production, conservation, development or exploitation of seeds IDd agricultural farms to be executed under a project under this Act;
(k) "Year" means the financial year.
CHAPTER II-ESTABLISHMENT OF NIGAM, ITS CAPITAL AND MANAGEMENT Establishment 3. (1) With effect from such date as the State Government may, by notification and incorporat- appoint, there shall be established for the purposes of this Act a Nigam to be known as tion of the 1 1\ '1dh Ph' B' E F Vik N'Madhya Pradesh t ie rv. a ya radesh Rajya eej vam -arm as igam, Rajya Beej Evam Farm Vikas Nigam.
Olfio sand Agencies.
. Share capital and share holders.
(2) The Nigam shall be a body corporate with the name aforesaid, having perpetual succession and common seal with power, subject to provisions! of this Act to acquire, hold and dispose of any property and tQ contract, and may, by that name sue' and be sued.
4. The head office of the Nigam shall be .at Bhopal and it may, with the previous approval of the State Government, establish offices or agencies at other places.
r- (1) The' authorised capital of the Nigam shall be ten crores of rupees, divided in ten thousand shares of rupees ten thousand each. Witl» the previous sanctioa of the State Government, the first issue of shares shall be made by the Nigam.
(2) The State Government may enter into an agreement with the Central Govern nt or any of its related agencies for subscribing to the share capital of ihe Nigam and SU~,~ct to such agreement the State Government and the Central Government or any of its related agencies shall subscribe in such proportion as may be mutually deteiiiiined to' the: share capital to be issued Jn the first; instance. The Nigam may unless otherwise agree~ issue at any time or from time to' time, fully paid shares to' the State Government of the value of any plants and machinery or fixed assets which may be acquired by it from the State Government.
_ (3) Subsequent issues of share capital may be subscribed by the State Government a:'__ the Central Government or any of its related agencies as may be mutually agreed upon between both the Governments and the related agencies aforesaid.
(4) The State Government may, from time to time, increase the aurn:orisea capitm of the Nigam to such extent as the State Government may deem necessary.
RestrIctions on 6. The shares of the Nigam shall not be transferable transfers of Government and the Central Government or the related shares. accordance with the regulations made in this behalf.
Management except as -between the State agencies concerned and in
CHAPTER III-MANAGEMENT OF THE NIGAM
7. (I) The general superintendance, direction and management of the affairs an business of the Nigam shall vest in the Board of Directors which may exercise- all sue powers and do all such acts and things as may be exercised or done by the Niga>' under this Act.
Nigam :'~ Js· use, ::-~ seeds;
opment rvation, xecuted ification own as erpetual .J.'
:cf l, ~acquire, sue .and jrevious zided in of the ernment, su t , related e share .d, issue of 'the ~ rom the \ ,..
ernmeut . agreed capItal eState and in .airs and all such .e Nigam 1807 '~ ') The board of directors, in discharging its functions" shall act on business prin-, il;. r,', I regard being had to public interest and shall be guided by such directions on :: ~~~ons of policy as may, from time to time, be given to it by the State Government the Nigam shall consist of the following Constitution -, 'of Board.
i " I '":'1 I'p"~';im ,'.-: -. i .': ,'j.!~ll
(1) The Board8.
namely of Directors of A-EX-OFFICIO DIRECTORS
(i) the Minister-in-charge of Agriculture, who shall be Chairman ;
(ii) the Secretary to Government, Madhya Pradesh, Agriculture Department, who shall be Vice-Chairman;
(iii) the Secretary to Government, Madhya Pradesh, Finance Department or his nominee not below the rank of Deputy Secretary;
(iv) Director or Agriculture, Madhya Pradesh;
(v) Director Research, Jawaharlal Nehru, Krishi Vishwavidyalaya, Jabalpur;
(vi) the Registrar of Co-operative Societies, Madhya Pradesh; .
(vii) the Managing Director;
B-NOMINATED DIRECTORS
(viii) one Director to be nominated by the Stale Government to represent banks and financing institutions;
(ix) one Director having special knowledge. or practical experience in respect of agriculture and allied subjects to be nominated by the State Govemment ;
(x) two Directors having practical experience in respect of organisation, management of Farms and production and marketing o( seeds to. be nominated by the Stale Government.
(2) A nominated Director shall hold office during the pleasure of the authority nominating him but the term of his office shall not exceed three years, from the date 61 notification of his nomination. A nominated Director may, however, resign his office at any time, by writing a letter under his hand to' the Chairman, of the Board and tho resignation . shall be effective frym ~ date of its receipt.
(3) In the event: of the death, resignation or disqualification of a nominated Director, /he vacancy shall be filled up by nomination as soon as possible.
Vi - 9. (1) A person shall be disqualified for being nominated or appointed as, being a Director of the Nigam,- and for Disqualification for being a Director of the Nigam.
(a) if he is, or at any time has been, adjudicated insolvent or has, suspended payment of his debts or has compounded with his creditors; or
(b) if he is of unsound mind and stands so declared by a competent court; or
(c) ,jf he is or has been convicted of any offence which, in the opinion of the;
State Government, involves moral turpitude; or
(d) if he is removed or dismissed from the service of the Government or a Corporation owned or controlled by the Central .povernmenl! or the State Government; or (I:') if he acts in any manner prejudicial to the interest of the Nigam or has any interest In ., body. institution or organisation whose activities are prejudicial to the interest of the Nigam.
1808 Vacation of office by nominated directors.
Managing Director.
Casual vacancies in the office of the Managing Director.
Remuneration of directors.
Meetings of Board.
(2) If a director of the Nigam becomes subject to any of the disqualificationr. .D""'~,,, tioned in sub-section (1) he shall cease to be a Director of t!lie Nigam with effe '~' the date of notification: to this effect by the State Government, .:..-;- !",;~~....,.-t ;~