A producer company deals primarily with agricultural producers and the post harvest processing activities.Such a company also export the producers of its agriculturist members and import goods/services for benefit to them.
the basic concepts behind establishment of a producers company is to create cluster of famers/agriculturists to improve their income and the status of their necessary support . here, it also be mentioned that, in a country like India where around 85% of famers are small and marginal with small land holdings, these producer companies are certainly of great utility and importance, for uplifting their income, profitability of their business, and the standard of their living.
For formation of producer company in India, there are required a minimum of five directors and ten shareholders/members. There is no limit to the maximum numbers of its members. A minimum paid up share capital of five lakhs is also recommended.
Name approval (INC-1).
Making of DSCs and DINs.
Filing the application for incorporation (INC-7).
DIR-12, INC-22, INC-29.
DSCs and DINs of the proposed directors (PAN CARD, passport in case of foreign national, passport size photographs, ID proof, address proof ).
MOA and AOA.
Declarations and affidavits of the directors and members.
Address proof of the location of the proposed producer company.
Landlord (NOC) format will be provided .
Document of the property where the registered office of the company will be located.
A separate legal entity offering limited liability and perpetuity.
Governed by the central government , the producer companies offer greater credibility than that provided by unregistered producers organisations (which are governed by state government)
Change in the board of management (which control all activities of the company) of a producer company can be easily and swiftly be made just through filings some simple form with ROC.
A registered producer company is entitled its own, sell, enjoy, or alienate a property in its own name.
A producer company can accept deposits in the form of RD/FD and give maturity as well as distributes loans to its farmers/agriculturist members, and charge reasonable interests from them.
Producer company registration with 10 DSC, 10 DIN, name approval, incorporation fee, PAN, TAN, share certificates
Producer company registration with 10 DSC, 10 DIN, name approval, incorporation fee, PAN, TAN, share certificates and one year TDS filing.
Producer company registration with 10 DSC, 10 DIN, name approval, incorporation fee, PAN, TAN, share certificates, one year TDS filing and trademark registration.