PRODUCER COMPANY

The Companies Act defines Producer as any person engaged in any activity connected with or relatable to any primary produce (Produce: “ things that have been produced or grown, especially by farming ”). A Producer Company could be formed with one of the following purposes:

production, harvesting, procurement, grading, pooling, handling, marketing, selling, export of primary produce of the Members or import of goods or services for their benefit.

A Producer Company could be formed by 10 individuals (or above) or 2 institutions (or above) or by means of a combination of both (10 individuals and 2 institutions) to simplify the formation of co-operative business as corporations and to make it possible towards converting the existing co-operative business into corporations.

Conditions for Incorporation:

• Ten or more individuals, each of them being a producer
• Two or More Producer institutions
• Combination of ten or more individuals and producer institution

Checklists of documents required for Registration of PRODUCER COMPANY:

• Copy of PAN card for Indian Nationals;
• Notarized and/or apostilled passport copy for Foreign Nationals
• Passport/Voter ID/Driving license
• Passport size photographs of all individuals
• Copy of Telephone/Mobile/Electricity bill/Bank statements(less than 2months old) of Directors 
• Electricity/Gas bill (Less than 2 months old) for office premises       
• In case of rented premises a notarized copy of Rent Agreement with a No- Objection Certificate (NOC) for conducting business
• In the case of self-owned premises registered title document
• Mobile no, email id of each Director/shareholder
• Shareholding pattern.

Minimum Requirements:

• Minimum 5 Directors
• Minimum Rs.5 Lacs Paid up Capital

Registration Process 

1. Name approval: 

• Name for Company is applied through simple web based form. We can apply for total four names - Two names at a time followed with one resubmission chance.
• Name is available for 20 days from the date of approval.

2. Obtaining DSC: 

• After applying for name, next step is to apply for digital signature of all directors/shareholders.

3. Preparation of Spice forms 

• After collection of all the necessary documents and signing them by directors, the next step is to fill the spice forms, attach all the attachments, affix DSC and submit it on MCA portal. 

4. Allotment of Certificate of Incorporation (COI) with PAN/TAN 

• The MCA will issue COI if all the documents are in order as required or else will raise objection requiring correction and resubmission. 
• However, PAN and TAN are issued with COI of Company. 

5. Certificate of Commencement of Business:

• Every Company within 180 days of its incorporation have to file Certificate of Commencement of Business with MCA to commence business.