A Producer Company consists of 10 or more people or two or more entities involved in agricultural production or post-harvest processing operations. Thus, a producer company is a legally acknowledged cluster of farmers / agriculturists who aim to enhance their income, status of their accessible assistance and profitability, and living standards.
The sections below provide different data about some exclusive benefits offered by a producer company and we will do the entire producer company registration anywhere in India. Here it can be observed that in a nation like India, where about 85 percent of farmers have tiny land holdings, these producers company are definitely of enormous utility and excellent benefit to farmers and member of companies. So far, our extremely famous Indian law firm has helped countless producer company registration in their producer business in locations across India.
INFORMATION REQUIRED FOR PRODUCER LIMITED COMPANY IN INDIA
1. Educational Qualification of all the Directors.
2. Profession/Occupation of all the directors with area of Operation
3. Citizenship alongwith Residential Status of all the Directors
4. Place of Birth of all the Directors
5. Permanent & Present Residential Status of all the Directors
6. Contact Numbers of all the Directors
7. Email Ids of all the Directors
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ADVANTAGES OF PRODUCER LIMITED COMPANY IN INDIA
COMPLIANCES OF PRODUCER LIMITED COMPANY IN INDIA:
1. What is producer Company?
2. What are Authorized Activities of Producer companies?
The Producer Company is required to deal with the produce of its members and is authorized to carry on any of the following activities:
Note: Primary produce has been defined under the Companies Act 1956 as a produce arising from agriculture by a farmer which includes animal husbandry, floriculture, horticulture, viticulture, pisciculture, re-vegetation, bee raising, forestry, forest products and farming plantation products, produce of hand-loom, handicraft and other cottage industries.
3. What are the types of Producer Companies?
Following are the types of Producer Company:
4. What are the main Major Benefits/difference of producer Company?
Understanding the meaning of the producer company in the best possible way is to understand its features. Producer Company is essentially a production company that creates a pool of small producers who will become members of the company and trade with them, help them financially, help them and promote mutual and mutual assistance techniques.
5. Can foreign national be appointed as a director in a Producer Company?
Yes, a foreign national can be appointed as a director after obtaining valid DIN. However, one director must be a resident in India.
6. Can we transfer shares of the Producer Company?
Yes, they are transferrable — members of the producer company transfer shares along with the special rights.
7. Can Producer Company give special rights to its members?
Special rights can be given to the members of the Producer Company if the article of association provides so. In respect of such special rights, the appropriate instrument may be issued to the producer company.
8. What will happen in the event that a member of the producer company has ceased to be a primary producer?
In the event that a member ceases to be a primary producer, the directors of the Producer Company shall direct the surrender of shares at par value or at the value determined by the directors, together with the special right attached, if any. It will only be done if the written notice is given to the member and the opportunity to be heard is given.
9. Can a nominee be appointed by the members in a Producer Company?
With 3 months of becoming a member of the Producer Company, the member shall nominate a person in a specified manner to which shares will vest in case of death.
10. What are the benefits derived by the members of producer companies?
Following benefits are derived by the members of producer companies:
11. What is the Liability of the Directors in a Producer Company?
Liabilities of directors in a Producer Company:
company and its members and in accordance with the provisions of Memorandum, Articles and provisions of this act and loss or damage, if
any suffered by company, then such loss or damage shall not be considered as personal liability of the directors and they shall not be required to make good such loss or damage.