Contact No
+91-9465331815
+91-9465331815
Contact Email
cayogeshmehra@gmail.com
cayogeshmehra@gmail.com
A Producer is any person engaged in any close-knit or related activity to the primary producers. A Producer Company is thus an umbrella term that includes all of the following.
Producing, harvesting, procurement, grading, pooling, handling, marketing, selling, exporting the primary producers of the members, or the imports of goods or services.
The producer company primarily deals with the production of its active members. It is allowed to carry on any of the following activities by itself or through other entities on behalf of the members.
The registration process for Producer Company and Private Limited Company is very similar
1. The first step is to obtain the DSC and DIN for the Producer Company's proposed first Directors.
2. An application for name reservation can be filed with the Registrar of Companies (ROC) after obtaining the DSC and DIN.
The name should end with 'Producer Limited Company'.
3. After receiving the ROC's name approval, file the incorporation application in the prescribed format for incorporating the Producer company.
4. The Certificate of Incorporation is issued if the registrar is satisfied with the application for the Incorporation of the Producer company.
The functioning of the producer company is similar to the Private Limited company. But unlike the Private Limited companies, there is no limit on the number of members.
Even if the Producer Company's name ends with the words "Producer Limited Company", it shall under no circumstance become or be deemed a public limited company.
Production, Procurement manufacture of its members and others' primary producer is the producer companies' primary function.
A business involved in the marketing or promoting the primary produce or provision of education services to members and others can also constitute itself as a Producer company.
Any business that offers technical assistance to the producers, Provides training and educational services, or conducting research and development can register as a Producer in India.
A business financing producing activities then be it production, or marketing r development it can register itself as a producer company.
The business involved in providing infrastructure to the producers, whether in the form of electricity, water resources, irrigation techniques, or consultation regarding the same, may also constitute themself as a Producer company.
A current account can be opened for a Sole Proprietorship from various banks in India.
Producer Company - Key features
The members of a producer company have unlimited liability as the company is an entity in itself. The amount invested in the business would be lost, and the directors' property would be safe.
Rather than a single farmer managing their entire business, producer companies' work is divided among the directors. The entity is governed by the Management Board, which has a tenure of five years.
A producer company has a separate legal existence, which means that it is not affected by any of its members' death.
Producer Companies were introduced to allow farmers cooperatives to function as a corporate entity under the MCA. Here we are going to talk about the loan provided by NABARD for a producer company in India.
Producer Organization Development Fund
A minimum of five people are required to register a producer company in India.
Identity proof and address proof is mandatory for all the proposed Directors of the Producer Company. PAN Card is mandatory for Indian Nationals. In addition, the landlord of the registered office premises must provide a No Objection Certificate for having the registered office in his/her premises and must submit his/her identity proof and address proof.
The time taken for registration will depend on submission of relevant documents by the client and speed of Government Approvals. To ensure speedy registration, please choose a unique name for your Company and ensure you have all the required documents prior to starting the registration process.
Once a Company is incorporated, it will be active and in-existence as long as the annual compliances are met with regularly. In case, annual compliances are not complied with, the Company will become a Dormant Company and maybe struck off from the register after a period of time. A struck-off Company can be revived for a period of upto 20 years.
A Digital Signature establishes the identity of the sender or signee electronically while filing documents through the Internet. The Ministry of Corporate Affairs (MCA) mandates that the Directors sign some of the application documents using their Digital Signature. Hence, a Digital Signature is required for all Directors of a proposed Producer Company.
Director Identification Number is a unique identification number assigned to all existing and proposed Directors of a Company. It is mandatory for all present or proposed Directors to have a Director Identification Number. Director Identification Number never expires and a person can have only one Director Identification Number.
The Director needs to be over 18 years of age and must be a natural person. The Director must be involved in farming activities.
An address in India where the registered office of the Company will be situated is required. The premises can be a commercial / agricultural / residential where communication from the MCA will be received.
