Producer Company Registration in India
A Producer Company in India is majorly involved in the production, harvesting, procurement, grading, pooling, handling, marketing, selling, exporting, primary produce of the members, or imports of goods or services.
A company formed under the Companies Act 2013 and carrying on the activities as mentioned in section 581B of Companies Act 1956. These activities include-
Production, harvesting, procurement, grading, pooling, handling, marketing, selling, export, and import of the primary produce of the members of the producer company.
Processing of produce. Processing includes preserving, drying, distilling, brewing, venting, canning, and packing of the produce of the members of the producer company.
Sale, supply, and manufacture of plants, machinery, and equipment. It also includes consumables for the members.
Providing insurance to the member producers and their produce.
Generation, transmission, and distribution of power. The usage and conservation of land and water resources.
Providing technical services, consultancy, training, research and development, and other activities for the benefit of the members.
A producer company when they have 10 or more producers and 5 directors with a minimum capital of Rs. 5,00,000/-. Thereafter, there are a few objections stated by the government for producer companies, that can be read under the Section 581B of the Companies Act, 1956.
benefits of registering producer companies in India
Documents required to register a Producer Company in India
- Identity Proof of the Member and Directors of the proposed Company
(Aadhar /Voter ID/Driving License/Passport) - Address Proof the Member and Directors
(Utility Bill/Telephone Bill/Mobile Bill/Bank Statement not older than two months) - Business Address Proof
Owned Property : (Copy of Registry and Latest Govt. Electricity Bill or Water Bill) - PAN Card of the Member and Directors of the proposed Company
- Latest passport size photograph of Member and Directors
- Producer Card of Members
- Producer Card of Members
Process to obtain Producer Company in India
- Obtain DSC (Digital Signature Certificate)-The first step is to obtain DSC for all the proposed directors in a company. DSC is required to sign the documents electronically. It is issued by the certifying authority.
- Obtain DIN (Director Identification Number)-The next step is to obtain DIN (Director Identification Number) by all the proposed directors in a company. Now DIN can be obtained directly through SPICE Form and there is no need to file a separate form.
- Name Approval Application-For registering the Producer Company name, an application is filed with the prescribed fee in RUN (Reserve Unique Name) form with the registrar of companies. On application, ROC verifies the name availability.
- Incorporation Application-After obtaining name approval, an incorporation application is filed in SPICE form along with the necessary documents such as MOA, AOA, affidavit, and declaration with the concerned Registrar of Companies. After verification of the incorporation form, Certificate of Incorporation is issued by the ROC
Producer Company Registration In India FAQ's
Q1: Can a Producer Company engage in activities beyond agriculture?
Yes, a Producer Company can engage in various activities related to agriculture and allied sectors, such as processing, marketing, and selling of agricultural produce.
Q2: What are the benefits of registering a Producer Company in India?
Registering a Producer Company in India can lead to increased bargaining power, better access to resources, and improved livelihoods for primary producers in the region.
Q3: Who can be Director in producer company?
Any person who is above 18 and is involved in farming activities can be a director in a producer company.
Q4: Is a Producer Company eligible for government subsidies and support?
Yes, registered Producer Companies may be eligible for various government schemes, grants, and subsidies aimed at supporting agricultural and rural development.
Q5: Is it necessary to obtain DIN for all the directors?
Yes, DIN is the director identification number that is given to the existing and proposed directors.
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