Producer Company

A Company is the most acknowledged and accepted form of Business Structure worldwide. Not only it attracts investors but also encourages the entrepreneurs to represent their business in a form which is common and familiar to all. Further, it provides other benefits too such as that of having a perpetual succession and limited liability. Since a company has a separate legal identity from that of its promoters, it is capable of holding funds and properties and to sue and be sued in its own name. It is also eligible to borrow funds in different forms such as loans, debentures, etc.

Producer Company

Brief Idea :

A company is said to be a producer company if it is engaged in any of the following objects:

• Production, harvesting, procurement, grading, pooling, handling, marketing, selling, export of primary produce of the Members or import of goods or services for their benefit:

Provided that the Producer Company may carry on any of the activities specified in this clause either by itself or through other institution.

• Processing including preserving, drying, distilling, brewing, vinting, canning and packaging of produce of its Members.
• Manufacture, sale or supply of machinery, equipment or consumables mainly to its Members.
• Providing education on the mutual assistance principles to its Members and others.
• Rendering technical services, consultancy services, training, research and development and all other activities for the promotion of the interests of its Members.
• Generation, transmission and distribution of power, revitalisation of land and water resources, their use, conservation and communications relatable to primary produce.
• Insurance of producers or their primary produce.
• Promoting techniques of mutuality and mutual assistance.
• Welfare measures or facilities for the benefit of Members as may be decided by the Board.
• Any other activity, ancillary or incidental to any of the activities referred to above or other activities which may promote the principles of mutuality and mutual assistance amongst the Members in any other manner.
• Financing of procurement, processing, marketing or other activities specified above which include extending of credit facilities or any other financial services to its Members.

Points to be noted:

• Every Producer Company shall deal primarily with the produce of its active Members for carrying out any of its objects specified above.
• On registration, the Producer Company shall become a body corporate as if it is a Private Limited Company without any limit to the number of Members thereof
• A Producer Company shall not, under any circumstance, become or be deemed to become a Public Limited Company

Minimum Requirements :

• Directors- 5
• Members- 10 individuals , each being a producer
  OR
  2 Producer Institutions
  OR
  A combination of ten individuals and producer institutions
• Capital- Rupees 5 Lakhs Only

Documents :

• PAN Card of all Directors and Members (Self attested)
• Identity Proof of all Directors and Members - Aadhar Card or DL or Voter ID or Passport (Self attested)
• 1 Passport size photo of all Directors and Members
• Address Proof of all Directors and Members- Bank Statement/ Electricity Bill/ Telephone Bill/ Mobile Bill (Self attested and not older than 2 months)
• Proof of Office address (Conveyance/ Lease Deed/ Rent Agreement along with rent receipts/ Tax paid Receipt/ NOC)
• Copy of Government issued Utility Bill of Office address (Not older than 2 months)

Time :

15 to 20 working days subject to ROC processing time

Procedure :

• Name Reservation
• Preparation of Digital Signature Certificate (DSC)
• Application for Director Identification Number (DIN)
• Application for Incorporation

Get Quotation