Producer Company

PRODUCER COMPANY

To tackle with the struggle of primary producers and farmers in India, Producer Company establishes as an association of farmers with an objective to enhance their standard of living and provide them support and profit in business. The company extends assistance to the farmers by financing them through credit facilities. It can issue only equity shares which cannot be traded in the open market.

Producer Company can be taken as corporatization of a cooperative society so as to do business under a regulatory framework similar to that of a private limited company. The voting rights shall be one vote per member and on the basis of participation of the producer institution. It has its specified objects defined under Section 378B of the Companies Act, 2013 that has been given below:

production, harvesting, procurement, grading, pooling, handling, marketing, selling, export of primary production of the members or import of goods or services for their benefit
processing including preserving, drying, distilling, brewing, vinting, canning, and packaging of the produce of its members
manufacture, sale or supply of machinery, equipment or consumables mainly to its members
providing education on the mutual assistance principles, to its members and others
rendering technical services, consultancy services, training, research and development and all other activities for the promotion of the interests of its members
generation, transmission, and distribution of power, revitalization of land and water resources, their use, conservation and communication relatable to primary produce
insurance of producers or their primary produce
promoting techniques of mutuality and mutual assistance
welfare measures or facilities for the benefit of members as may be decided by the Board
any other activity, ancillary or incidental to any of the activities referred above or other activities which may promote the principles of mutuality and mutual assistance amongst the members in any other manner
financing the activities like procurement, processing, marketing or any such other activities as specified above which include extending of credit facilities and financial services to its members

Key Points

Either minimum 10 or more members or 2 or more producer institutions or combination of both (10 or more members + institution)
Each of the members should be a farmer
Liability of the members shall be to the extent of amount unpaid on the shares held
Minimum 5 directors and maximum 15 directors
Full time CEO who is not a member should be present

Requirements

Distinctive name of proposed company (at least 2 names for reservation)
Summary of the objects of company
Total amount of authorized and subscribed share capital
Director Identification Number (DIN) of proposed directors, if any
Communication details of directors and subscribers-

• Mobile Number

• Email-Id

Address of proposed Registered Office and its nearest police station
Corresponding Address, if proposed registered office is not final

Proposed Bank Name;
Details of Directors and Subscribers-

• Personal;

• Occupational;

• Educational; and

• Area of operation

Interest of Directors-

• Details of entities where director has interest;

• Details of interest of director in such entity

Amount and number of shares subscribed by each shareholder

Requisite Documents

Document supporting proposed name of the company, if any-
• NOC of Trademark or;

• Authorized letter of concerned entity

Proof of Producer-
• Khasra-Khatuni or;

• ITR with Agriculture Income or;

• Sarpanch Letter or;

• Any other proof that states member as a producer

Proof of Office Address-
• Title Deeds; or

• Lease/ Rent Agreement and rent receipt;

• Copy of any utility bill not older than 2 months

NOC from owner or landlord of office premises

Proof of Identity and Residence of subscribers and directors (whatever applicable)-
• PAN Card and;

• Passport or;

• Voter Id Card or;

• Driving License or;

• Utility Bills or;

• Aadhar Card

Passport size photograph of proposed directors
If subscriber is a body corporate-
• CIN/Registration Number;

• Authorization Letter;

• PAN of the entity

Note

Identity documents should be Self Attested.
We also provide making and renewal of DSC services.
If no DIN, application shall be made for it.
We also provide services of filing Income Tax Return and other related services for the company as a separate service.

Further, details and documents, if any required, can be called for during the process.
Other requisite documents shall be drafted and finalized by our team for the process and will be requested for signing.
We also provide Annual Filings of Producer Company as a separate service.

Time Duration

After receipt of all documents and information and subject to the MCA (CRC or ROC) response, approx. 5-10 days is taken for incorporation of such company.