Producer Company Registration
Producer Company Registration, you need to follow a process similar to that of registering a Private Limited Company. Any director of the Company fills out the application and submits it to the Registrar of Companies. The Registrar verifies the details and documents provided in the application. Once the verification is complete, the ROC issues the Certificate of Incorporation in the name of the company.
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Under which act producer company registration formed ?
The primary goal of a Producer company is to improve the livelihoods of its members and ensure the long-term viability of their resources, incomes, and profitability. We register a farmer-producer company under the Companies Act 2013.
Section 378C – Formation of Producer Company and its registration | Companies Act Integrated Ready Reckoner| Companies Act 2013|CAIRR.
What is the procedure of producer company registration ?
To register a Producer Company Registration, the process is similar to that of a Private Limited Company. You need to submit specific legal documents to the Registrar of Companies. Once the application is verified, the ROC will issue the Certificate of Incorporation.
The steps include documentation, name selection, name approval, and filing of SPICe+.
- STEP 1: DOCUMENTATION –
Before applying for the incorporation of a producer limited company, you need to present specific legal documents. Make sure you have all the required documents before starting the registration procedure.
- STEP 2 : NAME SELECTION –
When selecting a name for your Producer Limited Company, it should be unique and reflect your brand and business activity. There are certain requirements laid down in the Companies Act, the Company (Incorporation) Rules, the Trademark Act, and the Names and Emblems Act that must be followed. The name should not be the same or similar to an existing company, LLP, or registered trademark. You can find more detailed information about the requirements for name approval in our article.
- STEP 3 : NAME APPROVAL AND RESEERVATION –
After finalizing a legally valid name for your business, you need to reserve it with the Registrar of Companies. You can use our name approval and reservation services, where we will search the validity of the proposed names and apply for their reservation in the RUN or PART A of the SPICe+ applications.
- STEP 4 : Filing of SPICe+ application Once you have approved the name for your Producer Limited Company, you can proceed with its incorporation. You need to complete the online SPICe+ application on the MCA’s official website. Part A is used for reserving a name, and Part B is used for Producer Company Registration. Any director of the company can complete and sign the application before submitting it to the ROC, along with the necessary supporting documents.
STEP 5 : Issue of Certificate of Incorporation Once you submit the application for Producer Company registration, the ROC verifies the details and documents provided. After confirming their authenticity, the ROC registers the company and issues a Certificate of Incorporation as conclusive proof of registration. The company is also assigned a unique Corporate Identification Number.
Once you submit the application for Producer Company registration, the ROC verifies the details and documents provided. After confirming their authenticity, the ROC registers the company and issues a Certificate of Incorporation as conclusive proof of registration. The company is also assigned a unique Corporate Identification Number.
What are the benefits we get from producer company registration ?
Producer Companies in India enjoy certain tax benefits. They are eligible for exemptions under the Income Tax Act, such as deductions on expenses related to agricultural activities and investments made for the benefit of the members. Additionally,
They may qualify for exemptions on capital gains tax and dividend distribution tax. These tax benefits can help reduce the financial burden on Producer Companies and provide them with more flexibility in managing their finances.
– Simple Management
– Tax Benefits
– Loans Investment
– Continuous Existence
– Good Governance
– Support for producer company
– Help the members
– Saparate Legal entity
– Better Facilities
Who are eligible to register a producer company ?
To be eligible for Producer Company Registration in India, there are a few requirements. The company must have a minimum of 10 members who are primary producers engaged in agriculture or related activities. At least five directors are required, and one of them must be a resident of India. The company’s main objective should be to promote the interests of its members and carry out activities related to production, procurement, processing, or marketing of agricultural products. Additionally, the company must have a minimum authorized capital of Rs. 5 lakhs.
What are the required document list for producer company registration ?
Here’s a list of documents required for Producer Company Registration in India:
- Memorandum of Association (MOA) and Articles of Association (AOA) of the company.
- Identity proof (such as Aadhaar card, PAN card) and address proof (such as passport, utility bills) of all the directors and
- Proof of registered office address (such as rent agreement, utility bills).
- Director Identification Number (DIN) of all the
- Digital Signature Certificate (DSC) of the authorized
- Consent letters from all the
- Declaration by the directors stating that they are not disqualified from being appointed as directors.
- Bank statement or canceled cheque of the company’s bank
- Other relevant documents as required by the Registrar of Companies (ROC).