What is a producer company?
A Producer Company is a company registered the objective of agriculture production, post harvesting processing activities, procurement, selling and distribution, export of primary produce of the Members or import of goods for their benefit. India is an agriculture based country with around 62% of its people depending directly or indirectly upon agriculture.
Indian farmers are completely unorganized, so they are not able to use the latest technologies in the agricultural sector production. the main reason of Farmer suicides account for 12 % of all suicides in India.
Producers company aimed at the empowering farmers by creating a registered body of farmers as Producer company and this will help them to use the latest technology and reduce the cost of agriculture harvesting.
What is procedure for Producer company registration?
Minimum 5 directors.
Minimum 10 members.
Minimum paid-up capital Rs. 5 Lac.
There no restriction on the maximum number of members.
Producer company can not be deemed as public company.
A Producer Company can have only equity share capital.
The board meeting shall be held not less than once in every three months and at least four such meetings shall be held in every year.
Documents Required From All Directors and Shareholder.
- PAN Card or Passport or Election ID Card
- Latest Bank Statement/Telephone or Mobile Bill
- Voter’s ID/Passport/Driver’s License
- Passport-sized photograph of all directors and shareholder
- Scan copy of Signature (signature should same as on PAN Card)
- For Proposed Registered office (Residential or commercial)
- Any Utility bills Scan copy of Rent agreement with NOC from owner