A Producer Company is thus a body corporate having an object that is one or all of the following: production, harvesting, procurement, grading, pooling, handling, marketing, selling, export of primary produce of the Members or import of goods or services for their benefit.
Filing of Documents
Procedure for Incorporation
- AOA and MOA duly signed, dated and stamped.
- Power of Attorney.
- Statutory declaration in the e-Form- 1(on Stamp paper) declaring compliance of all and incidental matters regarding the formation of companies.
- payment of stamp duty electronically through the MCA portal. In case it is not paid electronically, then original stamped physical copies of the uploaded e-Form-1, AOA, MOA along with a copy of the challan in the concerned office of ROC has to be submitted.
- Filling of Form-18
- Filling of Form-32
- Registration Fees
Applicant: Any person (10 or more) being a producer, or two or more producer institutions, or a combination of the above, can incorporate an Indian Producer Company.
- Filing of Name: File an application in FORM-1A along with a fee of Rs.1000. The application has to be made to the Registrar of Companies of the state where the producer company office is proposed to be located. A name that is available and one that best defines the purpose of your producer company is to be selected. When the ROC informs about the availability of the name, a MOA and AOA of the company is drafted in accordance with the rules of Sec. 581F and 581G respectively.
- MOA and AOA: These documents have to be stamped by the appropriate authority in agreement with the rules of the Indian Stamp Act, 1899 either physically or electronically. These documents have to be signed by each producer. The date will be the date of stamping.
- Object: The object clause in MOA must specify all the matters which are specified in Sec. 581B.
- Appointment of the First directors– The AOA of the company mentions the first directors of the producer company who hold office till directors are appointed within a period of 90 days of the registration. The minimum number of directors is 5 and maximum 50.