Overview
The Producer Company must deal primarily with the produce of its active Members and is allowed to carry on any of the following activities by itself or through other entities – on behalf of the members.
1. processing including preserving, drying, distilling, brewing, vinting, canning and packaging of produce of its Members.
2. manufacture, sale or supply of machinery, equipment or consumables mainly to its Members.
3. providing education on the mutual assistance principles to its Members and others.
4. rendering technical services, consultancy services, training, research and development and all other activities for the promotion of the interests of its Members.
5. generation, transmission and distribution of power, revitalization of land and water resources, their use, conservation and communication relatable to primary produce.
6. insurance of producers or their primary produce.
7. promoting techniques of mutuality and mutual assistance.
8. welfare measures or facilities for the benefit of Members as may be decided by the Board.
9. any other activity, ancillary or incidental to any of the activities which may promote the principles of mutuality and mutual assistance amongst the Members in any other manner.
10. financing of procurement, processing, marketing or other activities which include extending of credit facilities or any other financial services to its Members.
Benefits of a Private Limited Company
- A Private Company has no obligation to call the Statutory Meeting of the member.
- No restriction on payment of Managerial Remuneration
- A company to be incorporated as a Private Company must have a minimum paid-up capital of Rs. 1,00,000 only.
- Only 2 persons are required to form a Private Limited Company.
- The directors need not retire by rotation.
Condition
- Ten or more individuals, each of them being a producer; or.
- Two or more producer institutions; or
- A combination of ten or more individuals and producer institutions.
To Form a producer company in India, the following members in any of the combination is necessary:
Note- Registration process is similar to the private limited company.
Why Choose Private Limited Company Registration
- It is flexible and has limited liability.
- A greater capital contribution and greater stability.
- The possibility to grow big and expand
Required Documents
- Telephone or Mobile Bill/Electricity or Gas Bill Scanned copy of Notarized Rental Agreement in English
- Affidavit from director and shareholders
- Copy of PAN card, Identity and Address Proof for DIN for up to 3 directors
Process
Due to Digitalization of registration process, it’s become easy to register producer company
Obtaining DSC & DIN
Due to online process at least one director need to have digital signature (Dsc) which is required to sign electronic document.
For obtaining DSC, self-attested copy of director's pan card & his address proof is required.
Obtaining DSC & DIN
Firstly You need to find your name has not been taken
Secondly, you need to comply with the MCA guidelines. You can do so by ensuring that the name has a unique component and a descriptive component.
Company Registration Form & MoA & AoA Submission
Copy of Rental Agreement (along with NOC from owner)/Sale Deed in case of own property
Telephone or Mobile Bill/Electricity or Gas Bill Scanned copy of Notarized Rental Agreement in English
Affidavit from director and shareholders
Copy of PAN card, Identity and Address Proof for DIN for up to 3 directors
Company Incorporation Certificate
Once all the documents are approved by MCA , it will issue a incorpation certificate.
Apply for PAN & TAN & Bank Account
On the basis of incorporation certificate u can apply for the TAN , PAN & Bank.