A Producer Company represents an organisation formed by individuals who are producers or by producer institutions. Producers or Producer Institutions majorly deal in activities like processing, manufacturing, importing and exporting, promoting, procuring, marketing etc. of the primary produce or its supplements.
Any such 10 or more individual producers; or
At least 2 or more Producer Institutions; or
A combination of the above two can form a Producer Company having its objects specified in Section 581B and otherwise complying with the provisions of the Act and the.
A Producer Company can be incorporated in a similar way as Private company. Following steps are involved in the incorporation of such company:
1. Obtain DSC and DIN for the proposed first Directors of the Producer Company.
2. Reservation of Name
3. Preparation of Documents
4. Filing the requisite Forms
Part A: Name Reservation (New Companies only)
Part B: Company Incorporation
Application for DIN
Opening of Bank Account for the Company
Profession Tax Registration (only for Maharashtra)
Part A (Name Reservation) and Part B (All Other Services) can be applied simultaneously; or Part B can be filed after Part A i.e. when name is approved by the Ministry.
5. Issue of Certificate of Incorporation
On registration, the Producer Company becomes a body corporate as if it is a private limited company to which the provisions contained in this Part apply, without, however, any limit to the number of Members thereof. The Producer Company can never become Public Limited Company under any circumstances.
The Producer Company may reimburse to its promoters, all other direct costs associated with the promotion and registration of the company including registration, legal fees, printing of a memorandum and articles and the payment thereof, subject to the approval of Members at its first general meeting.
PAN Card – PAN Card of shareholders and Directors.
Photograph – Latest Passport size photograph of Shareholders and Directors.
Identity Proof – Aadhar card and Voter ID/ Passport/ Driving License of Shareholders and Directors.
Address Proof – Latest Telephone Bill /Electricity Bill/ Bank Account Statement of Shareholders and Directors.
Business Address Proof – Latest Electricity Bill/ Telephone Bill of the registered office address
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