A business or corporate body having any object such as producing, harvesting, procurement, grading, pooling, handling, marketing, selling, exporting primary products or importing goods or services for their benefit is referred to as Producer Business The supplier identifies as any person engaged in any activity related to or relating to any primary product.
Primary product means
➲ Agricultural products (including animal husbandry, horticulture, floriculture, pisciculture, forestry, forestry, re-vegetation, bee-growing, and farming products) or any other primary operation or service that promotes the interests of farmers or consumers; or
➲ Manufacture of persons engaged in the manufacture of handicrafts and other cottages industry.
➲ Any product resulting from any of the above activities, including by-products of such products;
➲ Any product resulting from an ancillary activity which would assist or promote any of the above activities or any ancillary activities thereof;
➲ Any activity intended to increase or improve the quality of the production of something referred to in subclauses I to (iv);
A producer company is a corporate body regulated by the provisions of Chapter IXA (Sections 581A to 581ZL) of the Companies Act, 1956 (CA, 2013 has no clear provision concerning producer companies and thus Chapter IXA of the Companies Act, 1956 has not been repealed). Producer Company can only be formed to pursue items in compliance with Section 581B of the 1956 Company Act
(a) Manufacture, processing, purchase, grading, pooling, storage, distribution, selling, the export of Members' primary products or imports of goods or services for their benefit: provided that the Producer Company is entitled to carry out any of the activities stated in this clause either by itself or by any other entity.;
(b) Processing including the storage, drying, distilling, brewing, venting, canning and packaging of its Members' products;
(c) Manufacture, selling or supply of machinery or consumables, primarily to its Members
(d) educating to its member and others on the mutual assistance principles
(e) Providing services to its member like technical services, consultancy services, training, research and development and all other activities for the promotion of the
(f) Generation, transmission, and distribution of power, revitalization of land and water resources, their use, conservation and communications relatable to primary produce;
(g) Providing insurance to producers or their primary produce;
(h) Promoting techniques of mutuality and mutual assistance ;
(i) Facilitate facilities for the benefit of Members as may be decided by the Board ;
(j) any other activity, ancillary or incidental to any of the activities referred to in clauses (a) to (i) or other activities which may promote the principles of mutuality and mutual assistance amongst the Members in any other manner ;
The producer company's members may carry out these operations on their own or through other organisations.
➲ A producer company is a registered private company.
➲ Producer Company shall be regulated by Chapter IXA of Companies Act, 1956.
➲ Voting rights for each member in the producer company shall be based on one single vote.
➲ No person who has any commercial interest that conflicts with the Producer Company's business shall become a member of that Company.
➲ The Company's name ends with "Producer Company Limited" which is set out in the Memorandum.
➲ The producer company's AOA and MOA shall be prepared in compliance with the requirements laid down in section 581F and 581G.
➲ The quorum at a General Meeting shall be one-fourth of the total membership.
➲ A production company's share capital shall consist only of equity shares.
➲ This can never be converted into a public company but it can be converted into a multi-state cooperative society.
Firstly members and directors are required to obtain DSC for this:
➲ Aadhar or bank statement
➲ Email id
➲ Mobile number
For Incorporation Process:
➲ ID proof of proposed Directors and Subscribers (any one of them)
➲ Address proof of proposed Directors and Subscribers (any one of them)
➲ Address proof for the proposed company
Incorporation of Producer Company;
Other docs needed to be attached with SPICe:
Private limited company
Minimum number of member
Ten or more individuals or two or more producer institution of their combination can form a producer company
Minimum of two member individual or companies can form a private limited
Maximum number of member
Maximum can be 200
Objectives of the company
Can carry the business with Specific objects specified in 581B of the act
Can incorporate with lawful objects
A producer company ends with “producer company limited”
“Private Limited Company” (PVT LTD)
Cessation of members
A person can cease to be a member of the producer company if:
No such provision for the cessation of membership
Number of directors
Vacation of office of director
Director shall vacate the office on the grounds led down under section 581A of the act
Director will vacate his office on the ground led down under section 167of the act
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