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.
Advantages of Producer Company
Disadvantages of Producer Company
What are the Documents required for Formation of Producer Company?
WHATS INCLUDED IN THIS PACKAGE ?
What is the process for Producer Company Registration?
DSC and DIN for all directors are required.
4-6 proposed names should be provided that should be unique and suggestive of company business.
Memorandum and Articles of Assocication should be drafted. Affidavit and declaration by first subscribers and Directors should be prepared
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.
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.
Any person above 18 years can become a director. Non-residents can also become director of Indian companies
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.
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.
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.
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 produce, package and market corn, rice, wheat flakes, etc, processed and packaged spices, coffee, tea, etc, canned fruits, vegetables, juices, etc, branding, or export marketing calling for heavy expenditure and risks on travel, advertising, sales
Yes, it can certainly help enhance export of agricultural produce, particularly of ethnic products in several ways. Because the member farmers will be required to follow GAP and will not use synthetic pesticides it will address the problem of product rejection by importing countries due to pesticide and heavy metal residues. However, major focus of the PC will be to help implement mandate of the government to provide food, health and nutrition security to its masses, particularly in rural areas.
A private limited company must have a minimum of 2 directors while the maximum no. of directors can be upto 15.
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
Every Producer Company must hold a board meeting atleast once in every three months and an Annual general meeting (AGM) every year.
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.
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