Producer Company
producer company is a type of corporate entity founded by farmers or producers with the primary goal of engaging in agricultural or related operations jointly.
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Producer Company
A producer company is a type of corporate entity founded by farmers or producers with the primary goal of engaging in agricultural or related operations jointly. The major goal is to enhance its members’ economic situations by facilitating better access to inputs, technologies, markets, and loans. Producer companies are governed by particular sections of the Companies Act, allowing farmers and producers to reap the benefits of a corporate structure while cooperating for mutual economic benefit.
Documents Requirement :-
To register a Producer Company in India, several documents are required. The documentation process involves both personal and company-related information. Here is a list of essential documents:
- Director’s Documents:
- Passport-sized photograph
- PAN Card
- Aadhar Card or Voter ID
- Proof of Residence (Bank Statement, Electricity Bill, Telephone Bill)
- Registered Office Documents:
- Proof of Registered Office Address (Conveyance/Lease Deed/Rental Agreement)
- Utility Bill (not older than two months)
- No Objection Certificate (NOC) from the property owner
- Director’s Documents:
Steps for forming a Public Limited Company in India :-
There are various processes involved in the registration process for a Producer Company in India. The procedure is summarized as follows in general:
- Directors and Promoters: Acquire Digital Signature Certificates (DSC) for the directors who are being suggested.
- Name Approval: – Using the Ministry of Corporate Affairs (MCA) portal, select a distinctive name for the producing firm and submit an application for name approval.
- Drafting of Documents: – Compile the Articles of Association (AOA) and Memorandum of Association (MOA) in compliance with producer company regulations.
- Filing of Incorporation Documents: – Send the application for incorporation and other necessary paperwork, such as the MOA, AOA, and other statutory declarations, to the Registrar of Companies (RoC).
- Certificate of Incorporation: – The Certificate of Incorporation will be issued by the RoC upon their approval of the submitted documentation.
- PAN and TAN Application: – Submit an application for the production company’s Tax Deduction and Collection Account Number (TAN) and Permanent Account Number (PAN).
- Opening a Bank Account – Create a bank account under the production company’s name.
- Post-Incorporation Compliance: – Complete all post-incorporation compliance obligations, such as holding the initial board meeting, designating auditors, and issuing share certificates.
- Membership and Share Capital: – Assist in issuing shares to members in compliance with the organizational structure of the producing firm.
Verify that the share capital and minimum and maximum number of members are being met.