PRODUCER COMPANY REGISTRATION

All about Producer Company

If you love the lush greenery of the country and want to set up business in that sector, then you must register a producer Company. The producer Company which is registered under the ComPANies Act, 2013, it focuses more on the objective of production, harvesting, pROCurement, grading, handling, marketing, selling, and export of primary produce of the Members or import of goods or services for their benefit, which means it looks after the agriculture sector and looks after these. This Company also looks after the post agriculture services and works for the upliftment of those. The Producer Company would not only benefit the farmers but would also help in growing up the economy of the country as a whole.

How to register a producer Company registration in India

Before you get into the actual producer Company registration, there are a few pre-registration necessities. These are mentioned below:

1. There must be a minimumṣ of 5 directors and 10 members.
2. The minimum paid-up capital of the Company is 5 lakhs.
3. The maximum number of directors which a producer Company can have is 15, but there is no limit on the members.
4. The deposits are accepted in compliance with the rules and regulations.
5. A producer Company cannot be regarded as a private Company in India
6. There should be a minimum of 4 board meetings in a year.

For the registration pROCess, these are required:

1. First of all the DSC and then the DIN of all shareholders and the Directors are required.
2. Now you can set a name for your Company which has to be approved by the registrar of offices.
3. An incorporation application is filed in SPICE form and the required documents are to be submitted.
4. Now, it takes around 7 days for the issuance of the certificate after which you are all good to go.

Documents Required for registration

These are the documents required for the producer Company registration. 

1. Registered Office addresses and the address proof of the same
2. Passport size photographs of each director
3. Digital Signatures of the directors and shareholders.
4. DIN number
5. Residence proof of every director
6. Latest Bank statement
7. Identity proof of each director such as PAN, AADHAR, etc.

Benefits of Producer Company Registration

The benefits of this producer Company registration are as follows: 

1. The management pROCess is easier and the board of management can easily be changed if needed, by filling simple forms with ROC
2. A Company which is a registered Producer Company can own, sell, enjoy or even alienate ṣproperty in its name.
3. This firm can accept deposits in the form of FD/RD and help the farmers and agriculturalists by aiding them loans as and when required.
4. The directors of a producer Company do not have any liability to the creditors of this Company.
5. It has uninterrupted existence which means that the Company stands out even after the death or departure of any member.