About Producer Company
Producer Company mean any person engaged any activity connected with or relatable to any primary produce . The objective behind the incorporation of Producer Company is to production, harvesting, procurement, grading, pooling, handling, marketing, selling, and export of primary produce of the Members or import of goods or services and other related activities for their benefit. Producer Company must deal primarily with produce of active Members and is allowed to carry activities by itself or through other entities- on the behalf of the members of Producer Company can be registered by any of following combination by complying with the prescribed limited formalities of the Companies Act, 2013
*Ten or more individuals, each of them is producer
* Ten or more individuals and producer institution
* A combination of ten or more individuals and producer institution
Producer Companies are those companies where minimum ten members are required and there is no limit for maximum number of members. A Producer company provides limited liability to its members. Under any circumstance, whatsoever shall not become or be deemed to become a public limited company. A minimum of five Directors are required for establishing a Producer Company.
DIN & DSC
1 – 2 Days
|Drafting MOA & AOA2 to 4 Days||Submission of forms to MCA4 to 5 Days||
Certificate Of Incorporation
6 to 10 Days
Advantages of Producer Company
Simple Registration Process.
Producer Company can be registered by any of combination ten or more persons, by complying with the prescribed limited formalities of the Companies Act, 2013.
Liability of its Members limited by the memorandum to the amount, if any, only for the unpaid amount on shares held by them and not more than that
Separate Legal Entity
One of the best advantage of a Producer Company is that it is distinct from that of its members. A company is a separate entity having its own rights & Obligations.
A company with perpetual succession has continued or uninterrupted existence until it is legally shut down. Company, being a separate legal entity, is not affected by the death of any member or transferable of shares but continues to be in existence.
Every Member shall on the basis of share capital contributed, entitled to receive only maximum dividend as may be specified by the articles
Transferability only to active member
Shares transfer of producer company by only its member to active member at par with prior approval board
Every Producer Company shall have internal audit of its accounts carried out, at such interval and in such manner as may be specified in articles by a chartered accountant .
General and other reserves
Every Producer Company shall maintain a general reserve in every financial year, in addition to any other reserves. In case of insufficient funds in any financial year then, the contribution to the reserve shall be shared amongst the Members in proportion to their patronage in the business of that company
Frequently Asked Questions (FAQs)
What is Producer Company ?
Producer Company mean any person engaged any activity connected with or related to any primary produce. Producer company incorporation is governed by company Act.
How many partners are required to Register a Producer Company?
Minimum of ten member required to form or register a producer company.
How much money are required to Register Producer Company?
There is no restriction on minimum contribution of Capital.
Time period of First Annual General Meeting (AGM) ?
First Annual General Meeting (AGM) of the producer company should be held within 90 days of its incorporation.
Appointment of Company Secretary ?
A Whole time Company Secretary is required to appointed in case of an Average annual Turnover exceed five crore rupees.
Can producer company become Public Company ?
Producer Company never become or deemed to be public company.
List of Documents Required to Process?
For Directors And Shareholders (In Scan only) :
1. PAN Card
2. Identity Proof – Anyone (Election ID/Passport/Driving License/Aadhar Card)
4. Address Proof – Anyone and Latest by One Month (Bank Statement/Mobile Bill/Telephone Bill/Electricity Bill)
5. Declaration Certificate from Gram Panchayat that individual is producer.NOTE: AADHAR CARD/DL/PASSPORT/VOTER-ID WILL NOT BE ACCEPTED AS ADDRESS PROOF.
For Registered Office (In Scan only) :In case the premises are Rented
Rent agreementIn case the premises are Owned by any Director or any Relative
Registry Proof or House tax receipts + Latest Electricity bill + NOC from the Owner on the name of any Director
Information Required ?
Information Required (Only information NO Documents Required):
1. Education Qualification of all the persons Involved
2. Any Landline number
3. Place of birth of all the persons
4. Mobile Numbers of Directors
5. Email IDs of Directors
Company related Information:
1. State in which company will be registered
2. Complete Registered office address along with PIN Code
3. Proposed business of the company in brief
4. Proposed Name of the company
Name should be like thisFirst Name – To be unique eg. XYZ
Second Part – Activity Word eg. If it is a Agriculture Company then Agro, Horticulture are the activity Words. Complete should be Like this: XYZ Agro producer limited AS per Companies the Act, producer company shall include the words Producer with its name
Brief Significance of Prefix used in Company Name.