Under the Companies act, a concept of Producer
Company was introduced. Now in this article, we will discuss about the Producer
Company and its registration procedure. Producer
Company Registration is done with the ministry of corporate affairs under
the company’s act of 2013.
Let’s have an overview
of a producer company
The producer company is basically defined as
“Any person that engages in any activity that is connected with any relatable
produce or a primary produce. A produce could be anything that’s been produced.
Like the things that are grown, like in farming for example. And so, a producer
company is a legal body that is incorporated for having one or all of the
following objects:-
·
The production of any goods and then harvesting its
growth, and then obtainment and grading the fresh produce. After that pooling
and handling of the goods produced and finally selling is done.
·
The producer company is supposed to be dealing with
the produce of the company’s active members primarily. Allowing them to be able
to carry out any activities by themselves or via other such entities that will
be done on behalf of the members of the producer company.
·
The processing of the product includes the
preservation and drying of the goods. Sometimes distilling, brewing and venting
of liquid product. At times canning and then packaging of the produce, that’s
been produced by the company members.
·
It can provide you with the education on assistance
principals that will be mutual among the company’s members and others.
·
The producer company renders technical services
along with the services of the consultancy and training research and
development. Along with other activities for the promotion of the respective
interests of their company’s members.
·
The primary produce should be relatable to the
activities in the producer company. It could be the generation of power, its
transmission and distribution among regions for its use. It could also involve
revitalization of the said resources like land and water, then their use and water
conservation also through the communication.
·
There should also be the welfare measures taken to
facilitate the benefits that can be given to the producer company's members.
This will usually be decided by the board.
·
The producer company will have to finance the
procurement and then process and involvement in the marketing or any other
activities which will include an extension of the credit facilities or any
other services involving finances to the producer company’s members.
How to Apply for Producer
Company Registration?
For the producer
company registration in India,
following combination is necessary:
The individuals should be in two or more in
number as members and all should be producers. It could also be two or more institutions
of production or a combination of ten or more individuals and production
institutions.
Source url - http://swaritadvisers.doodlekit.com/blog/entry/4590215/an-overview-of-producer-company-registration-in-india
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