Producer Company Registration

ABOUT

What is a Producer Company?

Producer Company means a body corporate having objects or activities as specified and registered as producer company under the act. It is a group of people involved in the production of primary produce or having one or more objectives relating to primary produce. In a producer company, you can make agriculturist members and accept deposits in form of RD/FD and provide them maturity as well as distribute loans to your farmer members and charge interest from them.

Main objective of the producer company is to facilitate the formation of co-operative business as companies and to make it possible to convert existing co-operative business into companies.

Facts

Our Advantages

Easy Management

The Board of a producer company can be easily changed by filing simple forms with the Registrar of Companies. The Board controls the activities of the producer company.

Borrowing Capacity

Producer Company enjoy better avenues for borrowing of funds when compared to other forms of business such as sole proprietorship and partnership.

Business Continuity

A producer company has ‘perpetual succession’, that is uninterrupted existence until it is legally dissolved. A producer company is unaffected by the death or other departure of any member.

Separate Legal entity

A producer company is a legal entity and a juristic person established under the Act. Therefore, a producer company has wide legal capacity and can own property and also incur debts.

NABARD Loan

NABARD has taken up the cause of supporting and to meet the needs of Producer Companies.t set up a Rs. 50 crore Producer Organisation Development Fund (PODF) in 2011.

Limited Liability

Personal assets of the shareholders will not be at risk, in the event of the company facing financial distress. Liability of the shareholder is limited to the unpaid amount on his shareholding.

Pre-requisites

for Incorporation of Producer Company

Number of Producers

10 or more Producers / 2 or more Producer Institutions can form a Producer Company But there is no upper limit on the number of members.

Minimum Required Capital

A minimum capital of Rs. 500,000 is required to incorporate a producer company.

Number of Directors

There should be minimum 5 directors (maximum of 15) in a producer company

Latest News

We Serve Everywhere with operations since 2007.

It is one stop business setup and consulting company, managed by specialized team of Business Analysts, Chartered Accountants, Corporate Lawyers and Financial Professionals. We delivering the projects on time, we have clients spread across the globe

view more News

INCOME TAX

January 16, 2019 2,comments

BUSINESS LICENSES

March 16, 2018 3,comments

FINANCIAL SERVICES

January 16, 2019 2,comments

GST RETURNS

March 16, 2018 3,comments

What is the

Documents required

What are the Documents required for Formation of Producer Company?

PAN card and Residence Proof of directors of the company
Copy of Rental Agreement / EB Card Copy of Registerd Office
Copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
passport-size photograph
Specimen signature (blank document with signature [directors only])
copy of Passport (In case of Foreign Director)

What Includes in this package?

Verification of Documents
DSC and DIN for 2 Directors
Name approval and ROC fees
Drafting MOA & AOA
Following until Certificate is allotted
Applying PAN & TAN

What is the Process

for Producer Company Registration?

Applying DIN & DSC

DSC and DIN for all directors are required

Name Approval

4-6 proposed names should be provided that should be unique and suggestive of company business.

MOA,AOA&AFFIDAVIT

Memorandum and Articles of Assocication should be drafted. Affidavit and declaration by first subscribers and Directors should be prepared

Company Registered

Once the application is duly filed and accepted by ROC, certificate of incorporation is issued and the company is all set to start it’s operations.

Apply for PAN, TAN and Bank accounts

Then you need to apply for PAN and TAN. PAN and TAN are received in 7 working days. Post this, you can submit the Incorporation certificate, MOA, AOA and PAN with a bank to open your bank account.

Frequently Asked Questions (FAQ)

Lorem Ipsum is simply dummy text of the printing and typesetting industry has been the industry’s standard dummy when an unknown printer.

What are the requirements to be a director?

Any person above 18 years can become a director. Non-residents can also become director of Indian companies.

What are the documents required for registration?

ID proof and residence proof of all the proposed directors, PAN card is mandatory for Indian nationals. No objection certificate from the owner of registered office or lease agreement must be produced.

What is a digital signature certificate (DSC)?

Digital signature is process to authenticate and validate records electronically. DSC is required for every director of the company as the Ministry of Corporate Affairs (MCA) mandates digital signature of directors on some documents.

What is authorized capital fee?

Authorized capital of a Company is the amount of shares a company can issue to its shareholders. Companies have to pay authorized capital fee to the government so as to be able to issue shares. Companies have to pay authorized capital fee for a minimum of Rs.1 lakh.

What is the difference between a producer company and an Institutional Producer Company (IPC)?

The PC intervention takes care of all that needs to be done and should be done locally, using their members and the local communities to add value, provide services, increasing their incomes, etc. The IPC could be located at the district, state, national or even to serve a few countries in the area, requiring sizable investments, eg a plant to

How many directors can be appointed?

A private limited company must have a minimum of 2 directors while the maximum no. of directors can be upto 15.

What are the requirements with regard to the company's name?

Company’s proposed name should be unique i.e., it should not be identical to any existing name. Names that infringe others’ rights, trademarks or patents are likely to be rejected by ROC

What is Director Identification Number (DIN) ?

DIN is a unique identification number which is allotted to all the directors existing or proposed. DIN can be obtained by filing e-form DIN1 in MCA portal.

What are the statutory compliances required for a Producer Company?

Every Producer Company must hold a board meeting atleast once in every three months and an Annual general meeting (AGM) every year.