The producer Company is the activities of production & processing of the agriculture, with registered in the Ministry of Corporation Affairs (MCA). According to the law, the Agro Producer Company should contains the minimum of 10 members and has 2 institutions.
The Producer Company was run in India along with the Companies Act 2013. Where the chance to form a company for the person, who is busy in the Agri producing process. In the Producer Company, Producer: 10 or more members (Who should do the job related to produce or growth ) Producer Institution: 2 or more number of Producer Institution & 10 or more number of both (Producer & Producer Institution). This type of Producer company, have the equity capital of the minimum of 5 directors. Then the capital share should be 5lakhs, which should be the authorized. Making procedure of the Producer Company and one to made the Private Limited Company is same.
Get the Type of Producer Company. Which is listed below.
In the Producer Company, production is the main function. Acquirement/ Making any primary produce for the members & other persons.
All the business are involved in the Marketing. Example encouragement of the primary produce, giving the educational services to the members and all the persons, who is participate in the producer Company
In any business, they are providing the training & educational services, Technical assistant to the producer and research and development . Those can register as the Producer Company.
The Person who doing the job related to the financing produce, and continuously working in the production, Marketing /development field can register their company as the producer Company.
: In that business includes in given the infrastructure to producer. It is in the form electricity, resource of water, Technique of irrigation, Utilization of land or discussion related to that. The above mentioned things can the make the company as a producer company.
For the Registration process should have the proper Identity Proof and Address Proof. Each and every directors and share holders ID proof & address proofs are required for the registration process. Carrying the scanned copy ID proofs for the MCA online registration process is listed here.
Note:One of the directors should submit self attested the first three documents (mentioned above) . Incase, the person from the foreign & NRI all the documents should be notarized for who is lived in India & non common wealth country. If the person lived in the common wealth country should have the apostilled.
If you ready to online registration in India, should have the registered company in India. Then the produce the resident’s electricity bill/telephone bill for the proof. With your rental agreement can submit the sale deed/utility bill and a letter, which is from the landlord.
DSC and DIN must applied for 5 directors. Which is mandatory to file the company registration documents.
4-6 proposed names should be provided that should be unique and suggestive of company business.
Memorandum and Articles of Assocication should be drafted.
Sign and file various documents including MOA & AOA with the Registrar of Companies electronically
Once the application is duly filed and accepted by ROC, Certificate of incorporation is issued and the company is all set to start it’s operations.
According to the law in the Company Act, 2003 in order for any company to be registered in India, the below conditions have to be met.
: The business liabilities should not able to repay. This risk is available in all the business, which was the needed thing. In that, the individual producer is liable for the creditors of the business personally. The Producer company members have the unlimited liability on the another method, the company is also as the entity. Hence, the amount invested for the business can lose. But the directors personal asset would be safe.
Among the farmers of India, 15% of farmers have the 2 acres land. The large number of farmers can't meet the advantages, it was coming under the economies scale. In the producer company, number of farmers worked as a group and minimum cost, decrease the risk and get access of the credit facilities. This leads the buyers to bargaining and good planning power.
Entire business was done by the single farmer, but in the producer company, the work was splited in to the directors. The Board of Management is manage the firm, which gives the job for 5 years. The producer company also have the separate legal firm, may be the death of the member is doesn't affect the producer company work.
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