Registration of Producer Company under Companies Act 2013
A producer company can be registered under the Companies Act of 2013. A producer company mainly relates to co-operative business and the unorganized sectors such as farming, production, procurement, harvesting, grading, marketing, selling exporting, and even such import made with respect to the benefits of the members of the Producer Company.
The company is registered by filing an application for incorporation in the e-form SPICE 32, along with the 2 names to be taken as the Name of the company, in order of their preference. Also, the directors are required to
Registration of Producer Company under Companies Act 2013
obtain DIN and authorized signatory must have DSC, which will be used to sign the incorporation application i.e. SPICE 32. The company shall arrange the minimum paid-up capital of Rs 5,00,000/. The PAN and TAN can be applied along with the producer company registration from e-form SPICE 32. Minimum of 5 directors is required to be appointed by the producer company.
A producer company can be incorporated only when it has a minimum of 10 members and for a maximum number of members, no upper limit or cap is there.
Registration of Producer Company under Companies Act 2013
The Producer company has reinforced and organized the co-operative business into a corporate entity. This has given the members an access to a larger market and has created a better world for the members involved in it. The agriculture sector and farmers form the most important part of the producer company. Such conversion has basically created a good credibility, easy management, right to own the property, a corporate existence, also as it is allowed to accept the deposits from the members, due to having a corporate existence has limited liability towards its members.
Registration of Producer Company under Companies Act 2013
The basic documents required are PAN card, Photograph, Aadhaar Card, rent Agreement, Landlord NOC is required, place of business address proof, rent agreement.