Introduction of Producer company Registration
Producer company Registration is a new concept introduced by the Corporate Laws through Companies Act 2013. This concept is brought to empower the producer by ensuring better prices and better quality and control over production, processing, marketing and other matters related to produce.
This concept of Producer Company was adopted in India as a model for business organisation for farmers, as well as small-scale manufacturers and service providers. It established under the Companies Act, 1956 with an objective to promote the interest of producers.
Producer Company in India:
In India, farmers are not able to take full benefit of their produce due to lack of proper marketing facilities. Various problems faced by the farmers include:
- Lack of information on crop requirements and market prices (resulting in inadequate decision making)
- Inadequate processing facilities
- Poor storage facilities leading to wastage
- Unavailability of credit assistance at reasonable rates
- Limited access to high yielding seeds and agricultural technology
- Lack of insurance cover against risks arising out of crop failure due to natural calamities
What is Producer Company
A producer company is a company registered under the Companies Act and governed by the Companies Act and the Companies (Amendment) Act, 2002. The producer companies are governed by Chapter IX-B of the Companies Act 1956.
Producer Company shall carry out any or all of the following activities:
Production; Harvesting; Procurement; Grading; Pooling; Handling; Marketing; Selling; Export of primary produce of its members or import of goods or services for their benefit.
Aims of Producer Company
The aim of a Producer Company is to improve the economic and social conditions of the members. It contains only the primary producers as its members who engaged in production and processing activities. This article contains the aims of Producer Companies.
Aims of Producer Company
A Producer Company does activities for the benefit of its members, who are primarily engage in production, harvesting, procurement, grading, pooling, handling, marketing, selling or export of primary produce of its members or import of goods or services for their benefit. It also does activities to promote mutual assistance and mutual assistance between its members.
The following are some of the main aims of Producer Company:
- To increase incomes by reducing costs by joint purchasing and sales effort
- Improve productivity through better techniques in farming
- Provide credit at reasonable rates
- To carry out research and development work for improvement in quality of produce
- To provide inputs like fertilizers and seeds at reasonable rates
Documents Required For Producer Company
- PAN Card
- Electricity Bill
- Aadhaar Card
- Bank Statement
- Farmer Certificate
- Registered Office Address Proof
- Telephone Bill or Gas Bill
- Details of Authorized Signatories
- Memorandum of Association (MOA) and Articles of Association (AOA): These documents requires for registering any kind of company in India. These two documents contain all the important details about your business including its name, registered office address, and nature of business activities.
The Role of Corpseed in Producer Company Registration
To register a company in India, the first step is to consult with the corpseed legal advisory team. Then after the Second step is They will guide you through all the process and the final step team will complete your registration process.
