Producer Company Incorporation

What is Producer Company?

Producer institution” means a Producer Company or any other institution having only producer or producers or Producer Company or Producer Companies as its member whether incorporated or not having any of the objects referred to in section 581B and which agrees to make use of the services of the Producer Company or Producer Companies as provided in its articles.

What is Objects of Producer Company?

(1) The objects of the Producer Company shall relate to all or any of the following matters, namely : –

1. production, harvesting, procurement, grading, pooling, handling, marketing, selling, export of primary produce of the Members or import of goods or services for their benefit: Provided that the Producer Company may carry on any of the activities specified in this clause either by itself or through other institution ;
2. processing including preserving, drying, distilling, brewing, vinting, canning and packaging of produce of its Members ;
3. manufacture, sale or supply of machinery, equipment or consumables mainly to its Members ;
4. providing education on the mutual assistance principles to its Members and others ;
5. rendering technical services, consultancy services, training, research and development and all other activities for the promotion of the interests of its Members ;
6. generation, transmission and distribution of power, revitalisation of land and water resources, their use, conservation and communications relatable to primary produce ;
7. insurance of producers or their primary produce ;
8. promoting techniques of mutuality and mutual assistance ;
9. welfare measures or facilities for the benefit of Members as may be decided by the Board ;
10. any other activity, ancillary or incidental to any of the activities referred to in clauses (a) to (i) or other activities which may promote the principles of mutuality and mutual assistance amongst the Members in any other manner ;
11. Financing of procurement, processing, marketing or other activities specified in clauses (a) to (j) which include extending of credit facilities or any other financial services to its Members.

(2) Every Producer Company shall deal primarily with the produce of its active Members for carrying out any of its objects specified in this section.

What is process of Formation of Producer Company and Its Registration?

1) Any ten or more individuals, each of them being a producer or any two or more Producer institutions, or a combination of ten or more individuals and Producer institutions, desirous of forming a Producer Company having its objects specified in section 581B and otherwise complying with the requirements of this Part and the provisions of this Act in respect of registration, may form an incorporated Company as a Producer Company under this Act.

(2) If the Registrar is satisfied that all the requirements of this Act have been complied with in respect of registration and matters precedent and incidental thereto, he shall, within thirty days of the receipt of the documents required for registration, register the memorandum, the articles and other documents, if any, and issue a certificate of incorporation under this Act.

(3) A Producer Company so formed shall have the liability of its Members limited by the memorandum to the amount, if any, unpaid on the shares respectively held by them and be termed a company limited by shares.

(4) The Producer Company may reimburse to its promoters all other direct costs associated with the promotion and registration of the company including registration, legal fees, printing of a memorandum and articles and the payment thereof shall be subject to the approval at its first general meeting of the Members.

(5) On registration under sub-section (1), the Producer Company shall become a body corporate as if it is a producer limited company to which the provisions contained in this Part apply, without, however, any limit to the number of Members thereof, and the Producer Company shall not, under any circumstance, whatsoever, become or be deemed to become a public limited company under this Act.

What is Membership and Voting Rights of Members of Producer Company?

(1)

(a) In a case where the membership consists solely of individual members, the voting rights shall be based on a single vote for every Member, irrespective of his shareholding or patronage of the Producer Company.

(b) In a case where the membership consists of Producer institutions only, the voting rights of such Producer institutions shall be determined on the basis of their participation in the business of the Producer Company in the previous year, as may be specified by articles : Provided that during the first year of registration of a Producer Company, the voting rights shall be determined on the basis of the shareholding by such Producer institutions.

(c) In a case where the membership consists of individuals and Producer institutions, the voting rights shall be computed on the basis of a single vote for every Member.

(2) The articles of any Producer Company may provide for the conditions, subject to which a Member may continue to retain his membership, and the manner in which voting rights shall be exercised by the Members.

(3) Notwithstanding anything contained in sub-section (7) or sub-section (2), any Producer Company may, if so authorised by its articles, restrict the voting rights to active Members, in any special or general meeting.

(4) No person, who has any business interest which is in conflict with business of the Producer Company, shall become a Member of that Company.

(5) A Member, who acquires any business interest which is in conflict with the business of the Producer Company, shall cease to be a Member of that Company and be removed as a Member in accordance with articles.

What is features of Memorandum of Producer Company?

The memorandum of association of every Producer Company shall state: –

(a) The name of the company with “Producer Company Limited” as the last words of the name of such Company;

(b) The State in which the registered office of the Producer Company is to situate;

(c) The main objects of the Producer Company shall be one or more of the objects specified in section 581B;

(d) The names and addresses of the persons who have subscribed to the memorandum;

(e) The amount of share capital with which the Producer Company is to be registered and division thereof into shares of a fixed amount;

(f) The names, addresses and occupations of the subscribers being producers, who shall act as the first directors in accordance with sub-section (2) of section 581J;

(g) That the liability of its members is limited;

(h) Opposite to the subscriber’s name the number of shares each subscriber takes: Provided that no subscriber shall take less than one share;

(i) In case the objects of the Producer Company are not confined to one State, the States to whose territories the objects extend.

What is the Procedure to register a Producer Company?

Once a name for the company is decided, the following steps have to be taken by the Registration Bazar:

Step 1: Application file for DSC of Directors (Digital Signature Certificate)

Step 2: File Spice Part A for the name availability

Step 3: After name approval Registration Bazar will be prepare the various form for company Registration. And forms file to MCA.

Step 5: After approval of the company registration form Certificate of incorporation will be issued by MCA.

What are the documents required for registration of producer company?

To proceed for producer Company Registration, Registration Bazar need some documents-

1. Photo of directors.
2. PAN card of directors.
3. Farmers Certificate issued by Agriculture officer/ assistant agriculture officer /Tehsildar
4. Any one ID proof for directors address

Aadhar Card

Voter ID

Passport

Driving License

1. Any one address proof for director’s address.

Bank statement having latest 30 days entry

Bank Passbook with entries page having latest 30 days entry

Electricity Bill in name of director and nominee

Airtel / Vodafone / Idea / MTNL / BSNL bill in name of director and nominee

1. Any one bill in anybody name for registered office address

Latest Electricity Bill

Latest Mobile Bill – Airtel / Vodafone / Idea / MTNL / BSNL bill

what are the Documents Provided by Registration Bazar after Producer company Registration?

Followings documents provided by Registration bazaar after successful registration of Producer Company.

1. Certificate of incorporation
2. PAN Card of Company
3. TAN Card of Company
4. ESI Registration
5. PF Registration
6. Memorandum of Association of the company
7. Article Of Association of the company
8. Digital Signature Certificate of directors
9. Director Identification Number (DIN) of Directos

Why Choose Registartion Bazar?

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