A Producer Company is therefore a body corporate partaking an object that is one or all of the following:
- Production, reaping, obtaining, sorting, assembling, usage, advertising, retailing, export of primary produce of the Members or import of goods or services for their advantage.
- Additionally, the Producer Company must transact largely with the produce of its active Associates and is permitted to conduct any of the following happenings by itself or via other entities – on behalf of the associates.
- Processing containing conserving, parching, purifying, concocting, vinting, canning and packing of produce of its Associates,
- Production, trade or supply of machines, tools or consumables mostly to its Associates,
- Offering training on the common support principles to its Members and others,
- Providing technical amenities, consultancy facilities, teaching, research and development and all other actions for the advancement of the welfares of its Associates,
- Production, broadcast and supply of power, revitalization of land and water resources, their usage, preservation and communication relevant to primary produce,
- Protection cover of producers or their primary produce,
- Endorsing methods of support and shared help,
- Welfare actions or amenities for the assistance of Associates as may be stated by the Board,
- Any other action, subsidiary or accompanying to any of the activities which may encourage the ethics of support and shared backing amongst the Members in any other manner,
- Funding of obtaining, treating, advertising or other activities which comprise lengthening of credit services or any other financial services to its Members.
Producer Company Registration
To list a Producer Company in India, the subsequent members in any of the arrangement is essential:
- Ten or additional persons, each of them being a producer, or
- Two or added producer establishments, or
- An arrangement of ten or more persons and producer institutes
The listing procedure for a Producer Company is then alike to that of a Private Limited Company. DSC and name sanction must first be attained. The name of a producer corporation must conclude with the words “Producer Limited Company”. After name sanction is gained from the MCA, a request for incorporation can be filed in the agreed arrangement for incorporating the Producer Company.
If the Registrar is pleased with the request for incorporation of Producer Company, then he/she will accept the same and generate a Certificate of Incorporation. As soon as, a producer concern is incorporated, it shall operate like a private limited company subject to specific provisions. Nevertheless, unlike a Private Limited Company, a Producer Company does not have a bound on the total members. Additionally, though the name of a Producer Firm ends with the words “Producer Limited Company”, it will underneath no condition become or be considered to become a public limited company.
FAQ For Producer Company Registration
A bare minimum of five people is needed to register a producer company in India.
Identity evidence and address evidence are compulsory for all the projected Directors of the Producer Company. PAN Card is compulsory for Indian Nationals. Furthermore, the landlord of the registered office sites must offer a No Objection Certificate for having the registered office on his/her grounds and must issue his/her identity evidence and address evidence.
VYAPAR AADHAR can incorporate a Producer Company merely in 20-30 days. The time needed for registration will be based upon the offer of applicable documents by the consumer and the swiftness of Government Consents. To make certain swift registration, kindly choose an exclusive name for your Corporation and confirm you have all the essential documents previous to initiating the registration process.
Once a Corporation is incorporated, it will be life and in existence on the condition that the yearly submissions are met on a regular basis. In the event, yearly submissions are not fulfilled, the Company will become a Dormant Company and possibly struck off from the register after a duration of time. A struck-off Company can be recovered for a period of up to 20 years.
A Digital Signature creates the identity of the correspondent or signee electronically while submitting documents through the Internet. The Ministry of Corporate Affairs (MCA) dictates that the Directors sign some of the submission documents using their Digital Signature. Therefore, a Digital Signature is essential for all Directors of a projected Producer Company.
Director Identification Number is a distinctive identification number allocated to all prevailing and projected Directors of a Company. It is obligatory for all current or planned Directors to have a Director Identification Number. Director Identification Number on no occasion expires and an individual can have only one single Director Identification Number.
The Director must be over 18 years of age and must be a natural person. The Director must be engaged in farming activities.
An address in India where the recorded office of the Company will be positioned is vital. The sites can be commercial/agricultural/residential where messages from the MCA will be acknowledged.