Producer Company
Incorporation & Registration, NGO Registration, Company Compliances, Corporate Contract Drafting, Manage Finance & Accounting, Taxation, Government Mandatory Registration
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Producer Company
A producer company is basically a body corporate registered as Producer Company under Companies Act, 2013, the objective of agriculture production, post harvesting processing activities, procurement, selling, and distribution, export of primary produce of the Members or import of goods for their benefit. India is an agriculture based country with around 65% of its people depending directly or indirectly upon agriculture, and shall carry on or relate to any of following activities classified broadly: –
- Production, harvesting, processing, procurement, grading, pooling, handling, marketing, selling, export of primary produce of the Members or import of goods or services for their benefit.
- Rendering technical services, consultancy services, training, education, research and development and all other activities for the promotion of the interests of its Members;
- Generation, transmission and distribution of power, revitalization of land and water resources, their use, conservation and communications relatable to primary produce;
- Promoting mutual assistance, welfare measures, financial services, insurance of producers or their primary produce;
Pre-registration requirements for Producer Company Registration
- Requirement of minimum 5 directors and 10 members.
- Requirement of minimum paid-up capital of Rs. 5 Lac.
- No restriction on the maximum number of members.
- Producer Company cannot be deemed as a public company.
- A Producer Company can have only equity share capital.
- The board meeting shall be held not less than once in every three months and at least four board meetings shall be held every year.
- The First AGM should be held within 90 days from the date of registration
Merit of Producer Company
- A producer company is a separate legal entity, and there is a limited liability of its members.
- Greater credibility is offered by Producer Company as compared to other unregistered organizations of agriculturists or farmers.
- Through the filing of simple forms with the concerned ROC, we can make changes in the Board of Management of a producer company swiftly.
- Duly registered producer company in India can sell or own a property in its own name and it is entitled to accept deposits from or give loans to its agriculturist members at very reasonable rates of interest.
Demerit of Producer Company
- Insufficiency of capital.
- Members feel lack of motivation.
- Illiteracy problem also hurts in this organization.
- Lack of competitive ability.
- Inefficient management
- Negligence of duties
- Lack of inspiration and ability to perform their business perfectly.
Our services for establish your proposed Producer Company
- Digital Signature Certificate (DSC)
- Director Identification Number (DIN)
- Name reservation of your proposed OPC company
- Dedicated CA/CPA/CS/Lawyers
- Trademark search for business and registration
- Drafting MOA & AOA & Filling
- MCA Government Fees &XBLR Filling
- Corporate Identification Number (CIN)
- Application for PAN No. of company
- Business Idea corroboration.
- GST Registration.
- VAT & CST Registration.
- ESIC & PF Registration
- SSI Registration.
- Provident Fund Registration.
- Import-Export Code Registration.
- Drafting Lease Deed and its registration.
- Drafting of Lease Deed and registration.
- Assistance to open your current account
- Assistance for Seed Capital / Angel Investor
Documents required from all Directors for registering Producer Company
- Copy of election ID card or Passport.
- Copy of PAN Card of all the directors and subscriber.
- Copy of latest Bank Statement/Telephone bill
- Copy of Voter’s ID/Passport/Driver’s License
- Passport-sized photograph of all directors and shareholder
- Scan copy of Signature (signature should same as on PAN Card)
- Scanned copy of Notarized Rental Agreement
- Copy of utility bills for proposed registered office (Residential or Commercial).
- Copy of Rent agreement/lease deed.
- NOC from Owner/Landlord
