Do I need to be physically present during this process?
This isn't required. The entire process is now automated and handled online. You will receive the DIN numbers and Certificate of Incorporation by e-mail from Ministry of Corporate Affairs (MCA).
How much time is needed for setting up a producer company in India?.
Expect it to take 35 to 40 days to complete the entire procedure. This will, however, depend on whether you have all your papers in order and the workload of the RoC.
What are the rules for picking a name for a producer company?
Every company has two parts to its name. The first part is unique. For example, 'WIPRO' or 'MERCEDES-BENZ'. The second part describes the business activity of the company. For example, 'Legal Solutions' or 'Technologies'. This second part must be as descriptive as possible. The name of the company must end with 'Producer Company Limited'.
What documents need to be submitted to start a producer company?
Most importantly, all directors must have an identity and address proof and rights to practice on the property they are operating on. The owner of the registered office will also need to submit an NoC, stating that the company may operate from that location.
What is a Digital Signature Certificate?
A Digital Signature Certificate, or DSC, is issued by six certifying authorities in India (such as e-Mudhra and n-Code). It is nothing but an electronic version of a physical signature. It can be used to verify documents in the company registration process.
Will my producer company have a continuous existence?
All companies are legal entities by themselves. Therefore, they have a continuous existence. The only way a producer company can cease to exist (other than shutting it down voluntarily) is if the annual compliances are not met or if the creditors/courts force its closure.
Will the books of a producer company need auditing?
Yes, a producer company must have its books audited from its very first year. And in case turnover crosses Rs. 5 crore, it must employ a full-time company secretary to manage its affairs.