Producer Company Section 465(1) of the Companies Act, 2013
A) Introduction of Producer Company
A Producer Company is a corporate entity designed for farmers and producers, primarily involved in agriculture and related activities. Key characteristics include: Legal entity: Recognised as a company under the Companies Act, facilitating more accessible credit, and better post-harvest management.
Producer company was introduced to promote agriculture. As we all know India is famous for agriculture. Majority of the people are depending upon agricultural productivity to carry forward their livelihood. Increase in agriculture helps for reduction of poverty and for promotion of trading.
The process of incorporation is similar to a private limited company. Incorporation gives you a professional status and also Registering the Trademark of your company will help you to safeguard your identity and restrict others from using it.
B) Benefits of Foreign Company
Tax Free & Exemption
Government provided lots of exemption and tax free facilities for producer companies. To promote the primary producers 100% tax free facilities are also available on certain categories of fields.
Easy Loan Facility
The availability of loans for the Producer Companies are wide in nature and easy sanction of loans from financial institutions. NABARD (National Bank for Agriculture and Rural Development ) loans are provided for long term starts from 18 months and maximum upto 5 years.
Bonus Benefits
This type of company gives you a special type of benefit for bonus which is not available in any other company. Bonus will be given for the members of the company based on the same share proportions.
Limited Liability
The liability of the company is limited. The personal assets of the members will not be used even for unpaid debts. If the company is facing financial crisis only on the profit earned, shareholding, and assets of the company will be used to pay back their loans.
C). Documents required for Registration of Partnership Firm
ID Proof
Aadhar / Voter ID / Driving licence / Passport/any other foreign identity proof (in case of foreigner)Directors and Shareholders.
Address Proof and Utility Bill
The Address proof of the Directors, shareholders along with the Proof of the registered place of business (Ownership documents/ rent or lease agreement) or any bill in relation to electricity /landlord bill / bank statement.
Photos
The photos of the respective Directors , shareholders and designated authorities should submit for the clarification and proof of the concerned person.
PAN
A photo copy of the respective Directors and shareholders.
DSC
Digital signature is the electronic signature format of the Directors / signatory authority for the purpose of e-filing with the Register of Companies.
NOC (Owner/Landlord)
No objection certificate by the owner / landlord must be enclosed.
- Additional Documents
Our team of experts will help you with the additional required documents.
- DIN
Directors’ Director Identification Numbers (DINs)
- MOA
Company’s Memorandum of Association (MoA)
- AOA
Company’s Articles of Association (AoA)