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Producer Company Registration and Checklist

PRODUCER COMPANY

Producer Company Registration and Checklist

What is Producer Company Registration?

A producer company is a company formed by any 10 or more individual or it can be formed by any 2 or more producer institution; or a Combination of 10 or more individual producer and producer institutions for the purpose of doing the objectives as specified in the act and not for any other purpose. All the individuals or institution shall have an experience in farming activities. The producer company is formed for the benefits of their members and to trade the produce which are cropped by them so as to strengthen the position of farmers in the market and not to be exploited by any middlemen.

Pre-requisites to be considered while Registering a Producer Company

  1. Minimum number of directors should be 5 and number of members should be 10.
  2. The name of the proposed Producer Company shall end with “Producer Company Limited”.
  3. Minimum paid-up capital of INR 5 Lakhs is required to form the company.
  4. There is no limit on the maximum number of members.
  5. The producer company so formed shall be deemed to be a Private Company and cannot be a Public company in any case.
  6. The proposed Producer Company can have only equity share capital.
  7. There should be at-least four boards meeting every year and the meetings should not be held less than once every three months.
  8. Every Year One Annual General meeting shall be held in which member or directors in which the will decide on following matters:

-To approve budget and adoption of annual accounts of the Producer Company.

-To approve any patronage bonus.

-To decide declaration of limited return and decision on the distribution of   patronage.

-For issuance of bonus Shares.

-To specify the conditions and limits of loans that may be given by the Board to any director.

-To approve any transaction of the nature as is to be reserved in the articles for approval by the Members.

Mandatory Documents required for every director and Shareholders who don’t have DIN

  • Copy of PAN Card
  • Copy of ID Proof i.e. Either Driving License or Passport or Voter ID Card of all the directors and shareholder
  • Copy of Address Proof i.e. either Latest Bank Statement or Any Utility Bill i.e. Electricity Bill, Mobile Bill, Telephone Bill and Gas Bill of all the directors and shareholders
  • Passport-sized photographs of all directors and shareholder
  • Copy of any Utility bill i.e. Electricity Bill, Mobile Bill, Telephone Bill and Gas Bill as a registered office proof. And Rent Agreement In case of rented property along with NOC from the owner In case of owned Property, if the property is consented than NOC from the owner.

Mandatory Documents required for every director and Shareholders who have DIN

  • Copy of PAN Card
  • Passport-sized photographs of all directors and shareholder
  • Aadhaar Card copy or any other address proof.

The Neusource Startup Mind is the finest business startup consultant that offer various services of registration like Proprietorship Firm Registration, Partnership Firm Registration, LLP Registration, Company registration, GST Registration, Copyright Registration, ISO Registration Trademark registration, and other FSSAI License, etc. 

24 Mar

NeuSource Startup
Akash Rai

"Any time is a good time to start a company.” Neusource indulge in providing business consultancy services which help startups to accomplish their desired results as a TAJ EXPRESS. If you’re passionate about something and you work hard, then neusource is the right choice for you.