A Producer Company is that kind of company which is formed by 10 or more individuals who deal in agricultural produces or post-harvest processing activities. So, This is a legally recognized bunch of farmers who want to improve their incomes, standard of living and many more. This company is also registered under the Companies Act, 2013.
In a Producer Company, you can appoint Agriculturist members and accept deposits in the form of RD and FD. Through this, we allow them a maturity as well as distribute loans to your farmer members and charge interest from them. The minimum paid-up capital is 5 lakh rupees. For Producer Company, a maximum of 15 Directors, a minimum of 5 Directors, a minimum of 10 Individuals or 2 Producer Institutions are required. There is no limit to the number of members. If you want to register for a Producer Company, you can contact our Tradenfill advisor by mail: firstname.lastname@example.org or you can also call at +91-9654 533433.
Reasons to Register for a Producer Company
There are many reasons behind to register like;
- It’s completely a separate legal entity.
- Management is so easy.
- Have an Uninterrupted Existence.
- Owning Property.
Process and Formalities
The procedure of registration of New Producer Company like;
- Acquire Director Identification Number (DIN).
- Acquire Digital Signature Certificate (DSC).
- If you are a new user, then you have to register and create an account.
- Apply for the company to be registered.
Benefits of the Registration of Producer Company
The advantages of the registration are:
- It’s a separate legal entity offering limited liability and perpetuity.
- These Companies offer greater credibility than that provided by unregistered producer’s organization.
- By filling some simple forms with ROC, the changes in the Board of Management of a Company can easily and swiftly be made.
- A registered company has a right to own, sell a property on his or her name.
- These companies can accept a deposit in the form of RD/FD give maturity along with distributing loans to its farmers/ agriculturist members and also charge reasonable interest from them.