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Producer Company

PRODUCER COMPANY

A Producer Company is a unique form of organization that aims to uplift the economic conditions of farmers, artisans, and rural producers by providing them with a collective platform for better market access and improved bargaining power. Here’s a brief overview of the process for registering a Producer Company in India:

  • Eligibility: Any 10 or more individuals, each engaged in primary production activities, can form a Producer Company.
  • Name Approval: Choose a unique name for the Producer Company. The name should end with “Producer Company Limited.”
  • Verify the name’s availability through the Ministry of Corporate Affairs (MCA) website.
  • Memorandum of Association (MOA) and Articles of Association (AOA): Draft the MOA and AOA outlining the company’s objectives and governing rules. The MOA should emphasize promoting the interests of the primary producers.
  • Digital Signature Certificate (DSC) and Director Identification Number (DIN): The proposed directors need to obtain their Digital Signature Certificate (DSC) and Director Identification Number (DIN).
  • Application for Registration: File Form with the MCA for registration as a Producer Company.
  • After the application is approved, the name of the Producer Company will be reserved.
  • Compliance with Regulations: Adhere to the regulatory guidelines set for Producer Companies, including activities related to primary production, marketing, processing, and collective economic upliftment.
  • Members and Share Capital: A Producer Company should have at least 5 and a maximum of 15 directors.
  • Members’ contributions are in the form of shares, and their rights are determined by the number of shares held.
  • Marketing Activities: Producer Companies can undertake marketing activities, including bulk purchase, storage, processing, and distribution of agricultural products.
  • Benefit to Members: The primary objective is to improve the economic condition of members by providing them better access to markets, technology, and resources.
  • Annual Filing and Compliance: Producer Companies must file annual returns, financial statements, and other required documents with the MCA.
  • Profit Distribution: Profits earned by the Producer Company are distributed among members based on their contributions to the company.