Producer Company Ren

Producer Company Registration

A producer company is basically a company registered to deal with the primary production of its active member related to farming. The main objective includes production to its selling and exporting also. For the purpose of incorporation of producer company, Part IXA of Companies Act, 1956 is applicable until any special Act is enacted for such companies.

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What is the Producer Company?

A producer company is registered with ten or more member being producers; or any two or more producer institutions; or its combination. The same some other organization, the obligation of its individuals is restricted to the degree of neglected share capital by its individuals. The producer company is deemed to be a private limited company under this Act, however, the threshold of the number of members does not apply to same.

HERE'S HOW IT WORKS

1 Register

Fill all the required information requested in the registration form.

2 Expect a call from us

Once we receive quote request, our experts will get in touch with you immediately.

3 Service Delivery

After the discussion and submission of required documents, service will delivered. Time of delivery may differ based on the service.

Benefits of registering a farmer-producer organization

Special User Rights

The active members of the producer company may enjoy special user rights, if provided in the AoA of the company. The company may issue appropriate instruments to active members in respect of such rights. The special use rights refer to any right relating to the supply of additional produce by the active Member or any other right relating to his produce.

Benefits to members

Every member can initially receive only the value of the produce as determined by the Board. The withheld price may be disbursed later in cash or by allotment of equity shares. The members are eligible only for limited return but can also be allotted bonus shares. The surplus can also be disbursed as patronage bonus.

Separate legal identity

Alike any other company, the producer company also has a separate legal identity. The assets, liabilities, rights, debts and privileges shall vest in the company. The company can deal in its own name and hold the properties, too. The change in members or the directors neither affects its existence nor the assets & liabilities or rights & obligations.

Have Questions? Find Answers Here

What are the minimum requirements to register a farmer producer organization as a company?

Following are the minimum requirements to obtain registration as producer company:
1) The main object of the company must be too as provided in Sec 378C Companies Act, 2013
2) Minimum 10 individuals (who are a producer) or at least 2 producer institutes must subscribe the shares of the company
3) Minimum 5 directors in the company, one of which must be Indian citizen and resident
4) The registered office of the company must be situated in India

How to reserve the name of company?

The name of the company should be formulated as per the naming guidelines. The application for reservation of name is made in web-form called “RUN” with a maximum of 2 unique names. The registrar may ask to re-submit the application with a different name if the names do not fulfill the requirements.

Can NRIs/Foreign Nationals be a Director in a farmers producer organization?

Yes, an NRI or Foreign National can be a Director after obtaining Director Identification Number. However, at least one Director on the Board of Directors must be an Indian citizen and a resident.

Whether physical presence of the promoters is required while registration?

No. The registration process is completely online, the physical presence of the promoters is not required. All the documents and details can be transmitted through the mail or uploaded on our portal.

Stil have any questions?