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WHAT IS A PRODUCER COMPANY?
Producer Company means a body corporate having objects or activities as specified and registered as producer company under the act. It is a group of people involved in the production of primary produce or having one or more objectives relating to primary produce. In a producer company, you can make agriculturist members and accept deposits in form of RD/FD and provide them maturity as well as distribute loans to your farmer members and charge interest from them.
Main objective of the producer company is to facilitate the formation of co-operative business as companies and to make it possible to convert existing co-operative business into companies.
ADVANTAGES OF PRODUCER COMPANY
The Board of a producer company can be easily changed by filing simple forms with the Registrar of Companies. The Board controls the activities of the producer company.
A producer company is a legal entity and a juristic person established under the Act. Therefore, a producer company has wide legal capacity and can own property and also incur debts.
NABARD has taken up the cause of supporting and to meet the needs of Producer Companies.t set up a Rs. 50 crore Producer Organisation Development Fund (PODF) in 2011.
Producer Company enjoy better avenues for borrowing of funds when compared to other forms of business such as sole proprietorship and partnership.
A producer company has ‘perpetual succession’, that is uninterrupted existence until it is legally dissolved. A producer company is unaffected by the death or other departure of any member.
Personal assets of the shareholders will not be at risk, in the event of the company facing financial distress. Liability of the shareholder is limited to the unpaid amount on his shareholding.
PRE-REQUISITES FOR INCORPORATION OF PRODUCER COMPANY
2 or more Producer can form a Producer Company But there is no upper limit on the number of members.
A minimum capital of Rs. 500,000 is required to incorporate a producer company. It can be increases also.
There should be minimum 5 directors (maximum of 15) in a producer company.
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adivan is web portal of Arivian Business Solutions Private Limited with operations since 2019. adivan is one stop business setup and consulting company, managed by specialized team of Business Analysts,Company Secretaries, Chartered Accountants, Corporate Lawyers and Financial Professionals company headquartered in Chennai, India. Having known for our quality of services, delivering the projects on time, we have clients spread across the globe
Our Professionals Will help you in getting your business licenses and Business licenses necessary for smooth running of businesses.
We will make your business to GST Compliance. Returns are required to be filed digitally online through a common portal to be provided by GSTN
We will provide income tax return preparation, Revised return, Responding to Department notices and solving other Income Tax related issues.
We will Provide Funds for both personal and Business. Our funding system gives a credit line facility, enabling you to expand your business to new heights.
WHAT ARE THE DOCUMENTS REQUIRED FOR PRODUCER COMPANY?
WHAT INCLUDES IN THIS PACKAGE OF PRODUCER COMPANY?