Producer Company
Categorized as a cooperative entity, Producer company is considered to be a promising business option for individuals involved in any finance related activity.
Digital Filings can help you in…:
Arranging Digital Signature Certificate (DSC) and Director Identification Number (DIN);
Picking a unique name and getting it approved from Ministry of Corporate Affairs (MCA);
Drafting the Memorandum of Association (MoA) and Articles of Association (AoA);
Registering the Directors with MCA;
Applying for PAN and TAN with NSDL
Get Started!
Understanding Producer Company
Producer Company is a recently introduced concept that provides an opportunity to producers (people engaged in producing items, primarily by farming) to establish a company. Producer Company can be formed by 10 or more producers, two or more producer institutions or a combination of 10 or more producers and producer institutions. Producer Company can only have equity capital, a minimum of five directors, and an authorized capital of INR 5 Lacs.
In India, nearly 85% of the farmers own less than 2 hectares of land, which is why this segment of farmers is quite disorganized and incompetent to adopt the latest technology. Idea of Producer Company was, therefore, launched to create clusters of farmers who can take the benefits of recent technologies and increase their produce.
Key-Advantages of Producer Company
Distinct Entity
Producer Company is a separate legal entity and juristic person established under the Company’s Act and thus, it enjoys a wider legal capacity as well as can own property and incur debts. The members or the directors in a Producer Company are not personally liable to the Company’s creditors.
Preferred Credibility
Producer Company ensures better credibility than a Producer Organization, as it is monitored by the Central government, while latter is controlled by respective State Governments.
Economies of Scale
Majority of Indian farmers are deprived to reap the benefits of economies of scale. With a producer company, however, farmers can work collectively at lower costs, reduced risk, and even enjoy better credit facilities.
Continuous Existence
Producer Company enjoys perpetual succession as it remains operational until it is legally dissolved and continues to exist irrespective of any change in its membership. Moreover, being a distinct legal entity, its operations are not affected by the death or departure of any of the member.
Property Ownership
Since Producer Company is a juristic person, it can acquire, buy, or sale property in its own name, while any of the members cannot claim their rights on the Company’s properties.
Easy to Manage
A Designated Board of Management controls the functioning of a Producer Company, while the structure of the Board can easily be modified by simply filling-up the relevant forms with the Registrar of Companies (RoC).
Required Documentation Chart
Indian Resident
- Self Attested and Scanned copy of PAN Card or Passport
- Self Attested and Scanned copy of Voter’s ID / Passport / Driver’s License
- Self Attested and Scanned copy of Latest Bank Statement / Telephone or Mobile Bill / Utility Bills (Electricity / Water / Gas)*
- Specimen signature (blank document with signature)
For the Registered Office
- Scanned copy of Latest Bank Statement / Telephone or Mobile Bill / Utility Bills (Electricity / Water / Gas)*
- Scanned copy of Notarized Rental Agreement in English
- Scanned copy of No-Objection Certificate from the property owner
- Scanned copy of Sale Deed/Property Deed in English (in case of owned property)
* Valid and Recent (less than 2-months)
Note: Registered office can be a commercial building, rented space, or even a residence, while in case of rented space, the no object certificate (NOC) from the landlord is required to be obtained)
Non-Resident Indian / Foreign Resident
- Notarized and Scanned copy of Passport**
- Notarized and Scanned copy of Passport / Driver’s License**
- Notarized and Scanned copy of Latest Bank Statement / Telephone or Mobile Bill / Utility Bills (Electricity / Water / Gas)*
- Specimen signature (blank document with signature)
**Documents to be apostilled if the director is from a Commonwealth country.
For the Registered Office
- Scanned copy of Latest Bank Statement / Telephone or Mobile Bill / Utility Bills (Electricity / Water / Gas)*
- Scanned copy of Notarized Rental Agreement in English
- Scanned copy of No-Objection Certificate from the property owner
- Scanned copy of Sale Deed/Property Deed in English (in case of owned property)
* Valid and Recent (less than 2-months)
Note: Registered office can be a commercial building, rented space, or even a residence, while in case of rented space, the no object certificate (NOC) from the landlord is required to be obtained)
Major Types of Producer Companies
Production Businesses
Marketing Businesses
Technical Service Businesses
Financing Businesses
Infrastructure Businesses
What People Frequently Ask…
How many individuals are required to register a Producer Company?
Minimum of 5 people are required to register a Producer Company in India.
How long will it take to incorporate a Producer Company?
It will take nearly 20-30 working days with Digital Fillings for the incorporation of the company. It is subject to the submission of relevant documents and approval by the concerned authorities.
How long is the registration of Producer Company valid?
For how long the struck-off company be revived?
A struck off company can be revived for a period of up to 20 years.
Will the books of a Producer Company need to be audit?
Is there a need of an office for starting Producer Company?
What are the requirements to become a director of a Producer Company?
Do the Directors / Members need to be present in person to incorporate Producer Company?
No it is not required for the members to present physically. All documents can be scanned and sent through email to the RoC’s office.
Pocket-Friendly Options
Basic
Package Include:
Producer Company registration with 10 DSC, 10 DIN, and Name Approval- Incorporation Fee and Share Certificates
- Company Kit
- Obtaining PAN and TAN
- (Above price includes all taxes and relevant government fees.)
Standard
Package Include:
- Producer Company registration with 10 DSC, 10 DIN, and Name Approval Incorporation Fee and Share Certificates Company Kit One Year TDS Filing Obtaining PAN and TAN (Above price includes all taxes and relevant government fees.)
Premium
Package Include:
- Producer Company registration with 10 DSC, 10 DIN, and Name Approval Incorporation Fee and Share Certificates Company Kit One Year TDS Filing and Trademark Registration Obtaining PAN and TAN (Above price includes all taxes and relevant government fees.)
How we Do It…
Digital Filings can help you register the Producer Company in about 20–30 business days, depending on processing time of the relevant authorities.
Let’s Begin
Partners at Digital Fillings will help in getting the DSC and DIN for the proposed Directors of the Producer Company that takes 5-7 business days.
Organize them All
Post applying for the DSC, we will prepare the SPICe (i.e. INC-32 documents) in around a weeks’ time. We will also draft the MoA and AoA of the Producer Company. Once furnished, we will assist in submitting all these to the RoC.
The Name Game
Post getting the DSC and DIN approvals (of at-least five Directors), we will search and apply for a unique Company name to the MCA, which takes nearly 3-5 working days.
The Final Steps
Once the Producer Company’s name is approved, relevant registration documents will be submitted to the MCA along with application for registration. Subject to the required processing time, MCA will approve the incorporation application in 5-7 working days. Once approved, the Certificate of Incorporation will be mailed to Producer Company’s registered office address.
We Love to Help More
Digital Filing will also assist you in applying for a Permanent Account Number (PAN) and Tax Account Number (TAN), both of which are necessary for opening a bank account in the Producer Company’s name.
Our Patrons’ Speak
“Heartfelt thank you for proficiently taking care of all the registration related tasks and letting me focus on my business operation without any stress.”
– Srinivasan
“Highly impressed by the personal attention of the professional staff in getting the GST registration done and arranging the MSME certification for my business.”
– Hari
“Thank you Digital Filings for all your professional and timely support in getting my company registered.”
– Sachin Gupta
“I never thought it would be so easy to get my proprietorship firm registered. Thank you team Digital Filings. I will refer your proficient services to my friends too.”
– Pawan
“Thank you for simplifying the so complicated filing and documentation and getting my business smoothly registered.”
– Amit
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