Producer Company Registration
The 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:
To 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 Registration
- Producer 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 Registration
- Two or more producer institutions
- Combination 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 registration
- Copy of rent agreement if rented property.
- The director’s passport size photograph.
- Copy of pan card of every director
- Landlord NOC
- The 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 & DSC
DSC and DIN for all directors are required
4-6 proposed names should be as long as should be unique and implicational company business.
Memorandum and Articles of Association should be drafted. Affidavit and declaration by first subscribers and Directors should be prepared
Once 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 accounts
Then you would like to use for PAN and TAN. PAN and TAN are received in 7 working days. Post this, you can submit the Incorporation certificate, MOA, AOA, and PAN with a bank to open your bank account.