What is a producer company?
Producer Company is the one which is Registered under Indian Companies Act 2013 for the producing Agricultural goods by way of co-operative business as a Body Corporate. A Producer Company can be registered for the following object
Production, farming, harvesting, handling, marketing, selling, exporting of Primary Produce (Things that is produced through farming) for the benefit of its members
Also includes drying, processing, preserving, packing of the produce of its members
Manufacture, sale and supply of agricultural equipments to its members
Provide educational assistance for its members
Insurance assistance for the befit of its members
Welfare measures for the benefit of its members
Requirements for Procedure Company
Minimum 10 members are required to form a company (or) minimum two institutions
Minimum share capital required to form a Procedure Company in India is that of Rs.5,00,000/-
Minimum 5 Directors are required to form a Procedure Company
Features of Producer Company
The is treated as a Private Limited Company
The liability is limited to its share
The maximum number of members shall be 50
Documents that are required for a producer company
Pan Card of all the directors
Aadhar card of all the directors
ID proof of all the directors
Passport size Photo of all the directors
Address proof for company (Rental Deed)
Electricity bill
Advantages of Producer Company
This producer company gives a very admirable reparation to the organisation and its products. This producer company can own property in its own name. Fuehrer this producer company can accept deposit from its members. And it can also lend money to its members. The most important aspect is that the producer company is a separate legal entity and liability is limited.