Producer Company could be a company registered beneath the businesses Act, 2013 that has the target of production, harvesting, procurance, grading, pooling, handling, marketing, selling, and export of primary manufacture of the Members or import of products or services for his or her profit. Manufacture area unit things that are made or mature, particularly by farming. Therefore, a Producer Company deals primarily with agriculture and post harvest process activities.
Over eighty fifth of the Farmers in Republic of India area unit tiny and marginal farmers with land holdings of but a pair of hectares. This fragmentation in farmers and farm lands, results in disorganization and it’s not viable for Indian farmers to adopt the most recent technologies. By organization of those farmers into producer firms, economies of scale may be unbolted and therefore the bread and butter of farmers may be improved. so the idea of producer company is geared toward empowering farmers by making clusters of farmers organized as a Producer Company.
Reasons to Register a Producer Company
Separate Legal Entity
A producer company could be a legal entity and a jural person established beneath the Act. Therefore, a producer company has wide legal capability and might own property and conjointly incur debts. The members (Directors) of a producer company don’t have any liability to the creditors of a producer company.
The Board of Management of a producer company may be simply modified by filing straightforward forms with the Registrar of firms. The Board of Management of a producer company controls the activities of the producer company.
A producer company has ‘perpetual succession’, that’s continued or uninterrupted existence till it’s lawfully dissolved. A producer company, being a separate legal person, is unaffected by the death or alternative departure of any member however continues to be existing no matter the changes in membership.
A producer company being a jural person, will acquire, own, get pleasure from and alienate, property in its own name. No member will create any claim upon the property of the producer company as long because it could be a going concern.
A producer company enjoys higher believability when put next to unregistered producer organizations. Producer firm’s area unit registered and monitored by the Central Government. Producer Organization area unit on the opposite hand ruled and monitored by State Governments.
DOCUMENTS REQUIRED FOR PRODUCER COMPANY
Identity and Address Proof
Identity and address proof are going to be needed for all administrators and shareholders of the corporate to be incorporated. Just in case of Indian nationals, PAN is obligatory. For foreign nationals, apostilled or notarised copy of passport should be submitted compulsorily. All documents submitted should be valid. Residence proof documents like statement or electricity bill should be but two months previous.
Registered office Proof
All corporations should have a registered workplace in Asian country. To prove access to the registered workplace, a recent copy of the electricity bill or capital levy receipt or water bill should be submitted. Alongside the utility bill, rental agreement or sale deed and a letter from the owner with his/her consent to use the workplace as a registered workplace of a corporation should be submitted.
How we help with producer company registration
IndiaFilings.com can register a Producer Company in 20 to 30 days, subject to ROC processing time.
Got questions? Request a call from an IndiaFilings Business Advisor.
Obtaining DSC & DIN
Digital Signature Certificate (DSC) and Director Identification Number (DIN) is needed for the projected administrators of the Producer Company. DIN and DSC may be obtained for the projected administrators at intervals five to seven days.
Name Approval & License
Once DIN and DSC square measure accessible for atleast 3 administrators, application for reservation of name for Producer Company may be created to MCA. Name approval may be obtained in three to five operating days.
Producer Company Registration
Once the name approval is obtained, registration documents may be submitted to the MCA alongside associate degree application for registration. MCA can typically approve the appliance for incorporation in five to seven days, subject to their time interval
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