Producer Company Registration
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₹ 34999 /-
Online Producer Company Registration
"Producer Company" is a business that was formally established with the goal of raising the standards of farmers and agriculturalists. The Producer Company Registration in India can be founded with a minimum of 10 individuals or more, with 2 institutions or more, or with a mix of both, such as 10 individuals and 2 institutions, in accordance with the Companies Act 1956, which governs the formation of this type of company. Additionally, it should contain one of the following objectives for business.
Our Features in Producer Company Registration
Only equity shares make up a production company's share capital
Producer company's name must include the phrase "Producer Company Limited."
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Customer Rating
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Customer's Satisfaction
Producer Company Registration Online
Limited Liability
Members of the Producer Company have limited liability, and they are not permitted to use their own assets to pay off the company's losses and debt.
Separate Legal Entity
Registered producer business is considered as a distinct legal entity with the ability to buy or sell land in its own name, just like a private limited company is.
Better Reputation
Companies that are registered producers are given more trust than companies that are not registered producers.
Ability To Manage
By completing a few straightforward forms and submitting them to the registrar of companies, a production company applicant can request desired changes to the board of management (ROC)
Checklist to form a Producer Company Registration in India
Additional Mandatory Conditions for Registration of a Producer Company in India
Rules and Guidelines for Quick Access to Loans and Credits
Loans
In accordance with the legislation, loans and advances must be made to company members in exchange for security.
Credit Facilities
Credit facilities must be provided to producers in accordance with the law, or other firm members for a term of six months or less.
NABARD Loan
Nidhi Company is also required to submit a half-yearly The National Bank for Agriculture & Rural Development, or NABARD.
Advances
According to the Loans and advances to business members must be made in line with the law in exchange for security.
Loan Facilities
Loan facilities would be provided according to the law, to the company's producers or members for a duration of six months or less.
Bank Loan
Small and regional farmers are assisted in meeting their financial needs through NABARD, the National Bank for Agriculture & Rural Development.
Producer Company Online Registration Procedure
Step 1
Obtaining Digital Signature Certificate (DSC) and Director Identification Number (DIN) for the company's directors.
Step 2
Selecting the distinctive name and Getting the obtaining name approval for the given certificate.
Step 3
Drafting and submitting the MoA & AoA along with the subscription statement to the Registrar of Companies (ROC).
Step 4
Obtaining the certificate of incorporation (CIN), which takes between 15 to 25 days, is the fourth step.
Step 5
The company must apply for a PAN and TAN, which typically takes 7 working days to get.
Step 6
The MoA, AoA, Certificate of Incorporation, and PAN of the firm must be shown to the bank in order to open a bank account.
Tax and GST Filing Service
One of the best Fast and Secure Online Tax Filing Service in Hosur
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Frequently Asked Questions
The producing Company is envisioned as a Public Limited Company in accordance with Section 581C of the Companies Act, 1956.
A "Producer" or "Producer institution" can become a member or director of the producer company.
The producing firm may grant unique rights to the Company's members if the Articles of Association stipulate any such rights.
Forming a producer company from start can take around 35-40 working days on average.
A member of the Producer Company may transfer shares with any special rights after receiving the required board of directors approval.
The member of the Producer Company must designate, within three months of joining, a person to whom the shares will be transferred in the event of the member's passing.
From the name of the producer company, it may seem that the producer companies are public companies. Still, on the contrary, the Companies Act, 1956, section 581C, suggests that a producer company cannot be deemed a public company and shall become a corporate similar to a private company.
The company requires a minimum of ₹5,00,000 as capital to incorporate a producer company.
A producer company should have at least five directors on its board with an upper limit of up to 15 directors.The company can also have additional or expert directors whose number, however, shall not exceed one-fifth of the total strength of the number of directors on the Board.
A director shall be appointed for a minimum of one year but not more than five years. Also, every retired director is eligible to be re-elected by the members as a director.
