Producer Company Registration
The aim of Producer Company to empower all the marginal and small-scale farmers in such a way to unlock their economies crisis and to educate them to use all the latest and new technologies to lead their life in a better and improved way. About 60% of India’s population depends on agricultural activities for their bread and butter. To make it more sense, the agricultural industry is the backbone of the economy in India. But the farmers and primary producers are actually struggling a lot to get their profit. Being an agricultural-based country, almost India’s 85% of people are dependent upon farming activities. Most of the farmers or producers in India are marginal or small-scale farmers owning less than 2 hectares of farmland. Due to poor facilities and low production, the life of farmers is miserable. Hence, consideration their miserable condition in mind, the Government of India aligned an expert committee, lead by Y.K. Alagh to take care of the matter. Later in 2002, the expert committee brought a new concept named Producer Company Registration Online in India economy. From then on, the committee is working with the primary aim to uplift the Indian farmers and agriculturalists or Producers collectively.
What is a Producer Company?
A company formed officially with the primary aim to improve the standard of farmers and agriculturists and it is named as a ‘Producer Company’. This type of company is formed under the Companies Act 1956, and according to the act the producer company can be formed with a minimum of 10 individuals or more individuals or with 2 institutions or more or with a combination of both like 10 individuals and 2 institutions. And it should have one of the following as its business aim:
- Production
- Procurement
- Harvesting
- Marketing
- Grading
- Handling
- Pooling
- Selling
- Export
Types of Producer Companies
Production Businesses
The main functions of producer companies are production, procurement, or manufacture of any primary produce for its members (for further sale) and to others.
Marketing Businesses
Even a business involved within the marketing or promotion of primary produce or provision of educational services to members et al. can constitute itself as a producer company.
Technical Service Businesses
Any business offering technical assistance to producers, providing training and educational services, or conducting research and development can register as a producer company.
Financing Businesses
Any business financing producer activities, be it in the production, marketing, or development domain, can register itself as a producer company.
Infrastructure Businesses
Businesses involved in providing infrastructure to producers, whether in the form of electricity, water resources, irrigation techniques, land utilization, or consultation with regard to the same, may constitute themselves as a producer company.
Documents Required for Producer Company Registration
TO BE SUBMITTED BY DIRECTORS & SHAREHOLDERS
- Scanned copy of PAN Card or Passport (Foreign Nationals & NRIs)
- Scanned copy of Voter's ID/Passport/Driver's License
- Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
- Passport-size photograph
- Specimen signature (blank document with signature [directors only])
- Note: Any one of the directors must self-attest the first three documents. In the case of foreign nationals and NRIs, all the documents must be notarized (if currently in India or a non-Commonwealth country) or apostilled (if in a Commonwealth country).
FOR THE REGISTERED OFFICE
- Scanned copy of Latest Bank Statement/Telephone or Mobile Bill/Electricity or Gas Bill
- Scanned copy of Notarised Rental Agreement in English
- Scanned copy of No-objection Certificate from the landowner
- Scanned copy of Sale Deed/Property Deed in English (in case of owned property)
- Note: Your registered office needn't be a billboard space; it is often your residence, too.
Registration Procedure of Producer Company in India
- According to the rules and regulations of the ministry of corporate affairs, the registration process of a Producer Company is the same as a Private limited company.
- The procedure starts with applying and obtaining a DSC or Digital Signature Certificate and DIN or Director’s identification number for all the directors of the producer company.
- Checking name availability and Applying for the name availability for the company.
- Drafting of MoA, AoA & other required documents and Filing of the EMOA and EAOA to register a Producer company
- Applying for the PAN and TAN of the registering company
- Certificate of incorporation will be granted by RoC with PAN and TAN
- Opening a current account on the company name in an authorized bank
- Actually, it would take about 7-15 days for the verification process of documents. If all the submitted documents are as per the requirements of ROC, the incorporation certificate of the producer company registration would be issued.
Producer Company RegistrationThe aim of Producer Company Registration in Chennai, Tamil Nadu, India to empower all the marginal and small-scale farmers in such how to unlock their economies crisis and to teach them to use all the latest and new technologies to lead their life in a better and improved way.What is a Producer Company?A company formed officially with the primary aim to improve the standard of farmers and agriculturists and it is named as a ‘Producer Company’.
This type of company is made under the businesses Act 1956, and consistent with the act the producer company are often formed with a minimum of 10 individuals or more individuals or with 2 institutions or more or with a mixture of both like 10 individuals and a couple of institutions.
And it should have one of the following as its business aim:ProductionProcurementHarvestingMarketingGradingHandlingPoolingSellingExportTo start a Producer company, the individual or the farmers have to get a Producer Company Registration according to the rules and regulations of the government.Benefits of Producer Company RegistrationProducer companies provide greater credibility in comparison to which is provided by unregistered organizations of farmers or agriculturists.Only a duly registered producer company can own or sell a property in its original name.Producer company registration online provider’s different facilities of perpetuity and indebtedness .Changes in the producer’s brand of management can swiftly be made through few forms with the concerned ROC.A registered producer company provides loans or accepts deposits to members or agriculturists at a reasonable rate of interest .Conditions for Producer Company RegistrationTwo or more producer institutionsCombination of ten or more producers or individual institutions.Ten or more single people, each of them being creators or producers.The minimal requirements include 5 directors and Rs 5 Lakhs paid-up capital.Documents required for producer company registrationCopy of rent agreement if rented property.The director’s passport size photograph.Copy of pan card of every directorLandlord NOCThe water or electricity bill of the business place.The copy of property papers just in case if it’s an owned property.What is the Process for Producer Company Registration?
Applying DIN & DSCDSC and DIN for all directors are requiredName Approval4-6 proposed names should be as long as should be unique and implicational company business.MOA,AOAMemorandum and Articles of Association should be drafted.
Affidavit and declaration by first subscribers and Directors should be preparedCompany RegisteredOnce the appliance is duly filed and accepted by ROC, a certificate of incorporation is issued and therefore the company is ready to start out its operations.Apply for PAN, TAN, and Bank accountsThen you would like to use for PAN and TAN.
PAN and TAN are received in 7 working days.
Apply for Company Registration Online in India.
Register your company online within 10-15 days.
