Now registered Your Producer Company at Just Rs.24500* ( Inclusive All )
Producer means any person engaged in any activity connected with any primary produce ( primary produce which mainly includes the things that will be produced by farming activity ). Producer Company is also known as Farmer Producer Organization (FPO)
According to section 465(1) of the companies Act, 2013, the objects of Producer Company shall relates to all or any of the following matters,namely:
Processing including preserving,drying, distilling, brewing, venting, canning and packaging of produce fits members.
It will helpful for providing education on the mutual assistance principles to its Members and others.
Providing technical services, consultancy services, training, research, development and all other activities for the benefit of its members.
Providing services of Generation, transmission and distribution of powers, revitalization of land and water resources, their use, conservation and communications as required by the primary produce.
Assigning Insurance of producers or their primary produce, for the welfare of the producer company
Providing techniques of mutuality and mutual assistance, to the members involved in the activities and process of production
Welfare measures as per the time required or facilities for the benefit of members as may be decided by the board.
The main objective is to give right amount of wages to the farmers and support them in accessing government services.
The process of registering a Producer Company is like Private Limited Company
Digital Signature (DSC) and Director Identification Number (DIN) mustmandatorilybe obtained for the proposedfirst Directors of the company.
An application for name reservation shall be filed with the relevant Registrar of Companies (ROC) as per the registered office located with your city.
There is a requirement under the Act that thename of a producer company shall part the word end with its name “Producer Limited Company”.
After Approval of name by the Registrar of Companies (ROC), an application for incorporation is to be filed in the prescribed format for the incorporation of the Producer Company. Once the Registrar is satisfied with the application and the required documents filed for incorporation of Producer Company, ROC will approve the same by issuing Certificate of Incorporation.
From Directors and Share holders
1. PAN of the Promoters/subscribers and Directors
2. Address Proof of the Promoters/ subscribers and Directors
3. Identity Proof of the Promoters/ subscribers and Directors
4. Digital Signature Certificate
5. Registered Address Proof of office of the Company or ownership documents/lease deed
6. Passport Size Photograph of Promoters/ subscribers and Directors
7. Farmer Certificate from Tehsildar/Talati officer
1. Memorandum of Association of the Company (MOA)
2. Articles of Association of the Company (AOA)
3. Other attestation Documents
|1.||Minimum Number of people required|| Any 10 or more than 10 individual persons. OR,
Any 2 or more than 2 producer institutions can form a producer company.
|2.||Minimum Capital Required||A minimum capital of Rs. 500,000 is required.|
|3.||Minimum number of Director.||Minimum 5 Directors|
Members will have benefit of receiving Bonus Shares in the proportion to the amount held.
Members are also eligible to get Financial Assistance on Credit basis for a period not more than 6 months.
Exemption under Income Tax Act 1961 for tax on agricultural Income.
Loans and Advances against security mentioned for a period exceeding 3 months but not exceeding 7 years .
|1.||Board Meeting||4 Meeting and not more than 3 months gap between two meeting.|
|2.||Notice of Board Meeting||To be given 7 days in advance|
|3.||Annual General Meeting||First AGM to be held within a period of 90 days from the date of its incorporation and thereafter every AGM to be held within 6 months from the closure of the Financial year and not more than 15 months shall elapse between two AGM.|
|4.||Filings Forms and Returns|| Financial Statement along with Notice, Directors’ Report, Auditors’ Report to ROC in form AOC-4 within a period of 60 days from the date of AGM.
Annual Return to be filed in MGT-7 within 60 days from the date of AGM.
|5.||Internal Audit||Internal Audit to be carried out in such intervals and in such manner as may be specified by its articles or by Chartered Accountant.|