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Producer Company Registration

In India, a producer company can be registered by a group of individuals or producer institutions (cooperatives) involved in the production of primary produce. The company must have at least 10 individual members or 2 producer institutions or a combination thereof. All members must be producers of primary produce.

Description

  1. Benefits of Producer Company:
    • Limited liability for members.
    • Increased bargaining power for producers.
    • Enhanced access to credit, inputs, and technology.
  2. Objective:
    • The main objective of a producer company is to facilitate the activities of its members, promote their interests, and improve their income through collective action.
  3. Regulatory Authority:
    • The registration of producer companies in India is governed by the Companies Act, 2013, and managed by the Ministry of Corporate Affairs (MCA) through the Registrar of Companies (RoC).

It’s recommended to consult with taxgoal.in professionals to apply for PRODUCER company Registration. At TaxGoal.in, we back up our clients with a team of Producer company Registration in Delhi to handle their requirements to obtain Producer company Registration.

Services Covered

  • Legal Consultation:
    • Seek advice from a corporate lawyer or legal firm specializing in company law to understand the legal requirements, prepare necessary documents like Memorandum of Association (MoA), Articles of Association (AoA), and ensure compliance with the Companies Act, 2013.
  • Company Secretary Services:
    • Engage a company secretary (CS) to assist in drafting and filing documents, maintaining compliance, and ensuring all regulatory filings are completed correctly and on time
  • Chartered Accountant Services:
    • Hire a chartered accountant (CA) to handle financial matters, prepare financial statements, and ensure tax compliance. They can also assist in obtaining PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) for the company.
  • Digital Signature Certificate (DSC):
    • Obtain DSCs for all directors and authorized signatories. DSCs are necessary for filing electronic documents with the Registrar of Companies (RoC).
  • Name Approval Services:
    • Check the availability of the proposed company name and apply for name approval through the RUN (Reserve Unique Name) service provided by the MCA.
  • Document Preparation and Filing:
    • Prepare documents such as MoA, AoA, declaration by directors, consent letters, etc., in the prescribed format and file them with the RoC.
  • Registration with Registrar of Companies (RoC):
    • Complete the registration process with the RoC, including payment of registration fees and submission of required documents.
  • Post-Incorporation Compliance:
    • Ensure timely compliance with post-incorporation requirements such as obtaining a Certificate of Incorporation, opening bank accounts, and obtaining necessary licenses or permits.
  • GST Registration (if applicable):
    • Register for Goods and Services Tax (GST) if the turnover of the producer company exceeds the prescribed threshold limit.
  • Trademark Registration (if applicable):
    • Consider registering the company name or logo as a trademark to protect intellectual property rights.
  • Business Advisory Services:
    • Receive guidance on business strategies, operational setup, and other aspects from business consultants familiar with the agricultural and producer sector.

For Whom the Plan is

  1. Individual Producers:
    • Individuals engaged in the production of primary produce, such as farmers, artisans, etc., can come together to form a producer company.
  2. Producer Institutions:
    • Cooperative societies, farmer producer organizations (FPOs), agricultural produce marketing committees (APMCs), etc., which are already registered under any law in force, can also register as producer companies.

Documents Required

To register a producer company in India, you need to prepare and submit several documents. Here’s a list of the essential documents required:

  1. For Members (Individuals/Producer Institutions):
    • Identity Proof (such as Aadhaar card, Passport, Voter ID, or Driver’s License) of each member.
    • Address Proof (such as Aadhaar card, Passport, Voter ID, or Driver’s License) of each member.
    • Photograph of each member.
    • In case of producer institutions (cooperatives, FPOs), registration certificate and other relevant documents proving their existence and authorization.
  2. For Directors:
    • Identity Proof (such as Aadhaar card, Passport, Voter ID, or Driver’s License) of each proposed director.
    • Address Proof (such as Aadhaar card, Passport, Voter ID, or Driver’s License) of each proposed director.
    • Photograph of each proposed director.
    • Digital Signature Certificate (DSC) for each proposed director.
  1. Address Proof of Registered Office:
    • Utility bills (electricity bill, telephone bill, etc.) or rent agreement of the premises where the registered office of the producer company will be situated.
  2. Other Documents:
    • PAN Card of the proposed company.
    • Digital Signature Certificates (DSCs) of directors.
    • Consent of all directors to act as directors.
    • Board resolution from producer institutions (if applicable) authorizing participation in the producer company.
    • Any other specific documents required by the Registrar of Companies (RoC) based on the nature of the producer company and its activities.

Frequently asked questions

A producer company can be formed by a minimum of 10 individual producers or 2 producer institutions (cooperatives, FPOs, etc.) or a combination thereof, involved in primary produce activities.

A producer company can be formed by a minimum of 10 individual producers or 2 producer institutions (cooperatives, FPOs, etc.) or a combination thereof, involved in primary produce activities.

Benefits include limited liability for members, enhanced access to credit and markets, collective bargaining power, and improved income through economies of scale.

Steps include obtaining Digital Signature Certificates (DSCs), Director Identification Numbers (DINs), approval of company name, drafting and filing Memorandum of Association (MoA) and Articles of Association (AoA), obtaining Certificate of Incorporation from Registrar of Companies (RoC), and completing post-incorporation compliance.

The registration process typically takes around 15-20 working days, depending on the timely submission of documents and approvals from authorities.

Documents include identity proof, address proof, photographs of members and directors, MoA, AoA, declaration by directors, proof of registered office address, DSCs, PAN/TAN, and other specific documents as required.

Yes, producer companies can avail themselves of loans and financial assistance from banks and financial institutions. They are eligible for various schemes and subsidies aimed at promoting agricultural activities.

Producer companies enjoy tax benefits similar to other corporate entities, including deductions for expenses incurred for agricultural development and exemption from certain taxes on agricultural income.

Compliance includes filing annual returns and financial statements with the RoC, maintaining statutory registers, conducting board meetings, and adhering to GST and other tax compliances.

Yes, producer companies can distribute dividends to their members based on the profits earned, subject to compliance with applicable laws and regulations.

Overview
Services Covered
For Whom
Documents Required
FAQ's

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