Producer Company Registration in Jaipur

Minimum five Directors and ten Members are required to agreeing for subscription of shares of the Company who can be individuals or producer institutions or combination thereof.

Yes, a Director of the person can also become a shareholder and vice versa as a Company is a Separate Legal Entity that means director of the company and shareholder of the company can be the same person.

There is absolutely no minimum capital required to form a producer company, but generally people prefer and are advised to incorporate the same with a minimum capital of Rs. 5 Lahs.

1. Production, harvesting, processing, procurement, grading, pooling, handling, marketing, selling, export of primary produce of the Members or import of goods or services for their benefit.
2. Rendering technical services, consultancy services, training, education, research and development and all other activities for the promotion of the interests of its Members;
3. Generation, transmission and distribution of power, revitalization of land and water resources, their use, conservation and communications relatable to primary produce;
4. Promoting mutual assistance, welfare measures, financial services, insurance of producers or their primary produce

A Member is required to deposit the money in the bank account at the earliest and file the form for commencement of company within 180 days from the date of incorporation of the Company.

No, the money deposited in bank on behalf of company cannot be withdrawn but can be used by the Company for official purpose like for paying salary to staff and employees, other administrative expenses etc.

Yes, for Indian nationals becoming a Director in a Company it is mandatory to have a PAN Card and Passport is need in case of Foreign Nationals.

It is the documentary proof evidencing that the Company has been registered and having its unique identification number as Corporate Identification Number.

You can register a Public Company at a commercial or residential place by providing the documents as specified. There is no restriction by the department.

• The First Annual General Meeting shall be conducted within 90 days from the date of incorporation.

• The Registrar may permit extension of the time for holding Annual General Meeting (not being the first annual general meeting) by a period not exceeding 3 months.

• The Producer Company shall in each year hold an Annual General Meeting and not more than 15 months shall elapse between the dates of one Annual General Meeting to the next.

• The proceedings of every Annual General Meeting along with Directors’ Report, the audited Balance Sheet and Profit & Loss Account shall be filed with the Registrar within 60 days of AGM.

No, there is no limit on number of Members in case of Producer Company.

Person being a “producer” or a “producer institution” (whether incorporated or

Not) can be admitted as member of Producer Company.

“Producer” means any person engaged in any activity or connected with or relatable to any primary produce activity.

“Producer Institution” means a producer company or any other institution having only producer or producers or Producer Company or Producer Companies as its member whether incorporated or not having any of the objects referred to in section 581B and which agrees to make use of the services of the Producer Company or Producer Companies as provided in its articles.

The Income Tax Act, 1961, specifically exempts for person having agricultural income under Section 10(1). However, the exemption for such agricultural income shall sometimes vary depending upon the kind of agricultural activity carried on. Dividend tax will be tax free in the hands of the members. Bonus shares will not attract any tax in the hands of the members at the time of allotment, however at the time of sale or redemption necessary provision of capital gain tax shall apply.