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Producer Company Formation
A Producer Company is a type of corporate entity formed primarily for the benefit of producers engaged in agriculture, primary produce, or related activities. It is regulated by the Companies Act, 2013, and is designed to facilitate the collective efforts of farmers, artisans, fishermen, weavers, or any other primary producers to improve their income and livelihoods. You can choose My Dream Consultant as top producer company formation consultant.
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What Is Producer Company Formation?
A Producer Company is a type of corporate entity formed primarily for the benefit of producers engaged in agriculture, primary produce, or related activities. It is regulated by the Companies Act, 2013, and is designed to facilitate the collective efforts of farmers, artisans, fishermen, weavers, or any other primary producers to improve their income and livelihoods. You can choose My Dream Consultant as top producer company formation consultant.
Who needs Producer Company Formation?
- Farmers:
- Farmers’ Groups:
- Artisans and Craftsmen:
- Fishermen and Fish Farmers:
- Horticulturists:
- Livestock Producers:
- Forest Produce Collectors:
- Agri-Entrepreneurs:
- Value Chain Participants:
- Rural Communities:
What are the Types Of Producer Company Formation?
- Agricultural Producer Company:
- Horticultural Producer Company:
- Fisheries Producer Company:
- Livestock Producer Company:
- Forest Produce Producer Company:
- Handicrafts and Handloom Producer Company:
- Organic Producer Company:
- Multi-Commodity Producer Company:
- Value-Added Producer Company:
- Export-oriented Producer Company:
What are the Documents Required For Producer Company Formation?
- Memorandum of Association (MoA):
- Articles of Association (AoA):
- Name Approval Application:
- Identity Proof of Members:
- Address Proof of Registered Office:
- Consent of Members:
- Board Resolution:
- Declaration by Directors:
- Registration Fee Payment Receipt:
- Other Relevant Documents (if applicable):
What are the Benefits Of Producer Company Formation?
- Collective Bargaining Power:
- Market Access and Market Intelligence:
- Value Addition and Quality Enhancement:
- Access to Finance and Credit:
- Capacity Building and Training:
- Economies of Scale and Cost Efficiency:
- Risk Mitigation and Insurance Coverage:
- Empowerment and Participation:
- Sustainable Agriculture and Environmental Conservation:
- Social Impact and Community Development:
What is the Stepwise Process Of Producer Company Formation?
- Preparation and Planning:
- Identify the group of primary producers (farmers, artisans, fishermen, etc.) interested in forming a Producer Company.
- Discuss the objectives, scope of activities, and benefits of forming a Producer Company with potential members.
- Assess the market demand, production potential, and resource availability for the proposed activities of the Producer Company.
- Formation of Promoter Group:
- Form a Promoter Group comprising at least ten individuals or two or more producer institutions interested in promoting the Producer Company.
- Obtain consent from the members of the Promoter Group to act as promoters and initial subscribers of the shares of the Producer Company.
- Drafting of Memorandum and Articles of Association (MoA and AoA):
- Draft the Memorandum of Association (MoA) and Articles of Association (AoA) of the Producer Company in accordance with the provisions of the Companies Act, 2013, and the rules applicable to Producer Companies.
- Specify the name, registered office address, objectives, powers, rights, and duties of the Producer Company and its members in the MoA and AoA.
- Name Approval Application:
- Submit a formal application for name approval to the Registrar of Companies (RoC) in the respective state where the registered office of the Producer Company will be located.
- Ensure that the proposed name complies with the naming guidelines specified by the RoC and includes the words “Producer Company Limited” at the end.
- Incorporation Application Submission:
- Prepare and submit the application for incorporation of the Producer Company to the RoC along with the MoA, AoA, name approval certificate, consent of members, and other necessary documents as prescribed by the Companies Act, 2013.
- Pay the prescribed registration fees for the incorporation of the Producer Company.
- Verification and Approval:
- The RoC will verify the documents and information submitted with the incorporation application. If everything is in order and complies with legal requirements, the RoC will issue a Certificate of Incorporation for the Producer Company.
- Board of Directors Appointment:
- Hold the first board meeting of the Producer Company to appoint the initial directors, appoint the Managing Director (if any), and approve the opening of bank accounts.
- Prepare and file the necessary documents with the RoC regarding the appointment of directors and key managerial personnel.
- Registration under Producer Company Law:
- Register the Producer Company under the relevant provisions of the Producer Company Law, if applicable, and comply with any additional regulatory requirements specified for Producer Companies.
- Commencement of Business:
- Upon obtaining the Certificate of Incorporation and other necessary approvals, the Producer Company can commence its business activities as specified in its MoA.
- Develop a business plan, operational strategy, and marketing plan to guide the activities of the Producer Company.
- Compliance Requirements:
- Ensure compliance with various regulatory and statutory requirements applicable to Producer Companies, including filing of annual returns, conducting board meetings, maintaining proper books of accounts, and adhering to corporate governance standards.
Frequently Asked Questions
Pricing Plans
A BITE PACK
12999/-
- DSC for Two Partner
- DIN for Two Partner
- Name approval of the Company
- MOA & AOA for the Company
- Certificate of Incorporation (COI)
- PAN Number for the LLP
- TAN Number for the LLP
- FREE ACCOUNTING APP
2 BITE PACK
13499/-
- DSC for Two Partner
- DIN for Two Partner
- Name approval of the Company
- MOA & AOA for the Company
- Certificate of Incorporation (COI)
- PAN Number for the LLP
- TAN Number for the LLP
- FREE ACCOUNTING APP
- MSME REGISTRATION
- CURRENT ACCOUNT OPENING
Z BITE PACK
14999/-
- DSC for Two Partner
- DIN for Two Partner
- Name approval of the Company
- MOA & AOA for the Company
- Certificate of Incorporation (COI)
- PAN Number for the LLP
- TAN Number for the LLP
- Dedicated Account Manager
- FREE ACCOUNTING APP
- MSME REGISTRATION
- CURRENT ACCOUNT OPENING
- GST REGISTRATION
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