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Your Producer Company
Wish to engage in activities relating to Produce (grown or produced) in farming? Producer Company is for you. Prices start at INR 19999/- only.
CA/CS Assisted | 4.8/5 Rating
Wish to engage in activities relating to Produce (grown or produced) in farming? Producer Company is for you. Prices start at INR 19999/- only.
CA/CS Assisted | 4.8/5 Rating
A Producer Company is a company, formed with an objective of production, harvesting, procurement, grading, pooling, handling, marketing, selling, export of primary produce of the Members or import of goods or services for their benefit. Term “Produce” means things that have been produced or grown, especially by farming. This means that, a Producer Company deals primarily with agriculture and post-harvest processing activities.
A Producer Company can be formed by 10 or more Individuals as producers.
Two or more producer institutions or a combination of 10 or more producers and producer institutions.
A minimum capital of Rs. 500,000 is required to incorporate a Producer Company.
The share capital of a Producer Company shall consist of equity shares only.
The shares held by a Member in a Producer Company, shall be in proportion to the backup of that company.
There should be minimum 5 directors and maximum of 15 directors in aProducer Company.
A full time chief executive (CEO) should be appointed by the board.
There is no maximum limit of the members.
The Producer Company in India cannot be deemed as a public company.
There should be at-least four boards meetings every year and the meetings should not be held less than once every three months.
Co-operatives have largely been state promoted, with a focus on welfare rather than to do business on commercial lines and more State government intervention in the management of Co-operatives.
Whereas Companies Act is central legislation comparatively more liberal and minimal government control in the management of the Company.
A Producer Company is hybrid of Company and Co-operative Society.
It combines the goodness of a co-operative enterprise and vibrancy and efficiency of a company and accommodates the unique elements of cooperative business with a regulatory framework similar to that of a company.
In India, a vast majority of farmers are marginal farmers with minimal land holdings individually. This restricts them to use the latest technologies in farming. This results in to lower economies of scale. A Producer Company is aimed at organizing a group of marginal farmers and ensuring larger economies of scale.
Ebizfiling is a group of intellectuals. The entire team of Ebizfiling consists of Highly qualified CA, CS, Lawyers and business administrators. Ebizfiling would be a one stop destination for your Producer Company Registration. We also provide services like Start up advisory, Secretarial compliance services, PAN / TAN application, DIN registration, GST registration, Trademark registration, GST / Income tax return filing and many more. You may get in touch with our compliance manager on 09643203209 or email info@ebizfiling.com for free consultation and to know more about the services provided by us.
(All Inclusive)
(All Inclusive)
(All Inclusive)
A Producer Company is a legal entity and a juristic person established under the Act. Therefore, a Producer Company has a wide legal capacity and can own property and also incur debts. The members (Directors) of a farmer producer company have no liability to the creditors of a Producer Company.
If the companies are registered as farmer-Producer Company with an annual turn over of Rs. 100 Crores, then such companies will have 100% tax deduction and earning profit out of the same will not bother to pay any tax. The government has extended a 100% deduction to farmer Producer Company.
Limited liability in a farmer Producer Company means that if the company goes through some financial distress because of business activity, the personal assets of members of the Producer Company will not be used to pay the debts of the Producer Company. The members liability will be limited only.
The members of the Producer Companies are initial producers, hence they need finance from time to time. NABARD bank offers loans to the farmers for a period not extending six months to meet the needs. In the event, if the members need finance for farming they can effortlessly take from the NABARD bank for a specific time.
Interest in Producer Company can easily be transferred by transferring its shares. The Board of Management of a Producer Company organization controls the exercises of the Producer Company. Its board of management is easily transferable as such. This can be effected simply through the filing of forms with Registrar of Company (ROC).
A Producer Company has ‘perpetual succession’, that is continued or uninterrupted existence until it is legally dissolved. A Producer Company, being a separate legal person, is unaffected by the death or other departure of any member but continues to be in existence irrespective of the changes in membership.
5 Easy Steps
Obtain DSC
Reserve Your Company Name
Submission of MOA & AOA
Get Company’s Incorporation Certificate
Get Company’s PAN & TAN
A compliance manager will get in touch with you to collect your documents along with a simple checklist. You need to fill up that checklist and submit along with your documents for verification. Our team of experts will verify the documents provided by you and take the procedure further. The compliance manager dedicated to you will keep you updated on the progress of Company Registration throughout the process.
Once your documents along with Checklist are submitted, we shall proceed with the application of your Digital Signature and subsequently the approval of name for your Producer Company. You may suggest up to three names of your choice for your Producer Company. Names should be unique and suggestive of the Company’s business. We will proceed with application for name for your Producer Company in Part A of SPICe Plus form.
We will draft the MOA (Memorandum of association) and AOA (Articles of association). We will file the incorporation documents with MCA through in part B of a form called “SPICe Plus (SPICe +)” along with the subscription statement. Usually, MCA approves the forms within 4-5 days once filed and issues Incorporation Certificate with CIN. PAN & TAN are allotted alongside. You may then proceed to open your Company Bank Account.
“Producer” means any person engaged in any activity or connected with or relatable to any primary produce and primary produce of farmer is defined as produce of farmer arising from agriculture including animal husbandry, horticulture, flori-culture, Fish-farming, viticulture, forestry, forest products, re-vegetation, bee raising and farming plantation products), or from any other primary activity or service which promotes the interest of the farmers or consumers or produce of persons engaged in hand loom, handicraft and other cottage industries or any product resulting from any of the above activities, including by-products of such products.
“Producer Institution” means a producer company or any other institution having only producer or producers or Producer Company or Producer Companies as its member whether incorporated or not having any of the objects referred to in section 581B and which agrees to use the services of the Producer Company or Producer Companies as provided in its articles.
It is valid lifelong once granted, until and unless revoked.
The formation and regulation of the Farmer Producer Company is governed under the provisions of the Companies Act, 1956, along with Companies Act, 2013, and the rules made thereunder.
A minimum of five people is required to register a Producer Company in India.
A Producer Company can be of six types as described below-
Production.
The main type of Producer Companies are those involved in a production, procurement or manufacture of any primary produce for its members (for further sale) and to others.
Marketing.
Even a business involved in the marketing or promotion of primary produce or provision of educational services to members and others can constitute itself as a Producer Company.
Technical Service.
Any business offering technical assistance to producers, providing training and educational services or conducting research and development can register as a Producer Company.
Financing.
Any business financing producer activities, be it in the production, marketing or development domain, can register itself as a Producer Company.
Infrastructure.
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.
With ebizfiling.com, Farmer Producer Company incorporation usually takes 30 days. This is subject to government approvals time and completeness of your documentation.
Ebizfiling.com provides Producer Company Registration all across India. You can obtain Producer Company Registration in Ahmedabad, Mumbai, Pune, Bangalore, Chennai, Delhi, Kolkata, Kanpur, Nagpur, Jaipur or any other cities easily with us.
Don’t worry!! Our expert will help you to choose a best suitable plan for you. Get in touch with our team to get all your queries resolved. Write to us at info@ebizfiling.com or call us @+91 9643 203 209.
Wish to engage in activities relating to Produce (grown or produced) in farming? Producer Company is for you. Prices start at INR 19999/- only.
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