Producer Company Registration
Producer Company Registration
Market Price : Rs. 45,000
Offer Price : Rs. 31,500
Discount : Rs. 13,500 (30%)
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What is a Producer Company ?
A Producer Company is a body corporate registered under the Companies Act, 2013, aimed at serving the primary producers (farmers, artisans, etc.). It is established to facilitate the production, harvesting, procurement, grading, pooling, handling, marketing, selling, exporting of primary produce of the members or import of goods or services for their benefit.
Salient Features of a Producer Company
Primary Producers: Only primary producers or persons engaged in related activities can be members.
Separate Legal Entity: It has a distinct legal identity, separate from its members.
Limited Liability: Members' liability is limited to their shareholding.
Perpetual Succession: Continues to exist irrespective of changes in membership.
Minimum and Maximum Members: Minimum of 10 members and no maximum limit.
Minimum Capital Requirement: There is no prescribed minimum paid-up capital requirement.
Membership:Only primary producers or producer institutions can become members.Primary producers include farmers, agriculturalists, artisans, and other individuals involved in production activities.Minimum 10 individual producers or two producer institutions are required to form a Producer Company.
Objectives:Production, harvesting, procurement, grading, pooling, handling, marketing, selling, and exporting the primary produce of the members.Providing technical assistance, consultancy, training, and other support to producers.Promoting mutual assistance and cooperation among members.
Capital and Liability:Members contribute capital, and the liability of the members is limited to the amount of their share capital.It operates on the principle of mutual assistance and follows cooperative principles.
Governance:Managed by a Board of Directors elected by the members.The board must include a minimum of five and a maximum of fifteen directors.Professional management can be appointed for efficient operations.
Profit Distribution:Profits can be distributed among members as dividends or bonus shares.Surplus can also be used for the development of the business, providing common facilities, and creating reserves.
Advantages of Producer Company
Limited Liability: Members’ liability is limited to their shareholding.
Separate Legal Entity: Provides a distinct legal identity, separate from its members.
Perpetual Succession: The company continues to exist regardless of changes in membership.
Access to Resources: Facilitates access to financial resources, technology, and markets.
Benefits to Members: Profits and benefits can be distributed among the members.
Tax Benefits: Eligible for various tax benefits and exemptions.
Procedure of Registration of Producer Company
Digital Signature Certificate (DSC): Obtain DSCs for the proposed directors to sign electronic documents.
Director Identification Number (DIN): Apply for DIN for the proposed directors using the SPICe Form (Simplified Proforma for Incorporating Company Electronically).
Name Approval: Submit the RUN (Reserve Unique Name) application to the Ministry of Corporate Affairs (MCA) for name approval. Ensure the name is unique and adheres to MCA guidelines.
Incorporation Form: File the SPICe Form along with the Memorandum of Association (MOA) and Articles of Association (AOA). Attach the required documents, including proof of identity and address for the directors.
Certificate of Incorporation: Upon verification, the Registrar of Companies (ROC) will issue a Certificate of Incorporation, officially recognizing the company as a legal entity.
PAN and TAN: Apply for the company’s Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN).
Documents Required for Registration of Producer Company
Identity Proof of Directors and Members: PAN card, passport, driving license, or Aadhaar card.
Address Proof of Directors and Members: Bank statement, electricity bill, or telephone bill.
Proof of Registered Office Address: Utility bill, rent agreement, or property ownership document along with a No Objection Certificate (NOC) from the owner.
Memorandum of Association (MOA) and Articles of Association (AOA).
Declaration by each subscriber to the MOA on Form INC-15.
Affidavit by the directors on Form INC-9.
Declaration by a professional certifying compliance with the requirements..
Corporate Verdict: Your Partner in Producer Company Registration
Corporate Verdict is a team of experienced professionals dedicated to assisting entrepreneurs in establishing Producer Companies effectively and affordably. We understand the complexities of the registration process and ensure a seamless experience for our clients. Our services include:
Expert Consultation: Providing detailed guidance on the feasibility and benefits of forming an Producer Company.
Documentation Assistance: Assisting in the preparation and filing of necessary documents.
Compliance Support: Ensuring your Producer Company meets all regulatory requirements.
Affordable Services: Offering cost-effective solutions without compromising on quality.
By choosing Corporate Verdict, you can rest assured that your Producer Company registration will be handled efficiently, allowing you to focus on growing your business.
For more information or to start the registration process, visit our website or contact our team today!
Have any Questions?
If you have any questions about the Producer Company Registration, feel free to contact us.