How can I incorporate a producer company in India?
The sole reason to introduce Producer Company is to make people engaged into these activities to regulate their business.
Producer Company is basically a body corporate carrying on activities related to any of following activities classified broadly:-
i) Production, harvesting, processing, procurement, grading, pooling, handling, marketing, selling, export of primary produce of the Members or import of goods or services for their benefit:
ii) Rendering technical services, consultancy services, training, education, research and development and all other activities for the promotion of the interests of its Members;
iii) Generation, transmission and distribution of power, revitalization of land and water resources, their use, conservation and communications relatable to primary produce;
iv)Promoting mutual assistance, welfare measures, financial services, insurance of producers or their primary produce.
Registration of Producer Company and Essential Requirments:
Any ten or more individuals, each of them being primary producer.
Who are producers? Only those individuals will be eligible to be a member of Producer Company who are engaged or connected to agricultural sector, animal husbandry, floriculture, pisciculture, viticulture, forestry, forest products, re-vegetation, bee raising and farming plantation products, handloom, handicraft.
Any two or more producer institution
Combination of the above two (10+2)
Numbers of director can be from 5(min.)-15(max.)
There is no maximum limit number of persons who can be member of the Producer Company.
The name of the company shall end with the words "Producer Company Limited”.
For purpose of application of law and administration of the Producer Company, it will be treated as Private limited Company.
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