Producer Company
What is the Producer Company registration?
Producer Company is a company registered under the Companies Act, 2013.A Producer Company deals primarily with agriculture and post harvest processing activities. Over 85% of the Farmers in India are small and marginal farmers with land holdings of less than 2 hectares. This fragmentation in farmers and farm lands, leads to disorganization and it is not viable for Indian farmers to adopt the latest technologies. By organization of these farmers into producer companies, economies of scale can be unlocked and the livelihood of farmers can be improved. Thus the concept of producer company is aimed at empowering farmers by creating clusters of farmers organized as a Producer Company.
How to Incorporate a Producer Company in India?
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The registration process for Producer Company and Private Limited Company is very similar.
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The first step is to obtain the DSC and DIN for the Producer Company’s proposed first Directors.
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An application for name reservation can be filed with the Registrar of Companies (ROC) after obtaining the DSC and DIN.
The name should end with ‘Producer Limited Company’.
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After receiving the ROC’s name approval, file the incorporation application in the prescribed format for incorporating the Producer company.
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The Certificate of Incorporation is issued if the registrar is satisfied with the application for the Incorporation of the Producer company.
The functioning of the producer company is similar to the Private Limited company. But unlike the Private Limited companies, there is no limit on the number of members.
Even if the Producer Company’s name ends with the words “Producer Limited Company”, it shall under no circumstance become or be deemed a public limited company.
Documents
Documents Required for Producer Company
Pan Card
Aadhar Card / Voter id Card/ Passport Copy
Latest Bank Statement
Rental Agreement Copy
Latest Elect Bill
NOC From the Owner ( Draft will be Provided )
NABARD Loan
NABARD Loan
The concept of Producer Company was introduced to allow farmers cooperatives to function as a corporate entity under the Ministry of Corporate Affairs. NABARD provides special assistance and loan for Producer Company or Producer Organization through the Rs. 50 crore Producer Organization Development Fund.
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