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An Overview
Producer company registration is forming a producer company under the Companies Act of 2013. Producer companies are special types of businesses formed by farmers and other agricultural producers to help them market and sell their products more effectively. They have limited liability for their members, which means that the members are not personally responsible for the debts and liabilities of the company.
Benefits Of FPO Registration
There are many benefits to registering a Farmer Producer Organization (FPO), including:
Limited liability for members
Members of an FPO are not personally liable for the debts and liabilities of the organisation. This means that their personal assets are protected if the FPO goes bankrupt.
Access to government subsidies and grants
FPOs are eligible for various government subsidies and grants, which can help them finance their operations and grow their business.
Easier access to credit from banks and financial institutions
Banks and financial institutions are more likely to lend money to FPOs than to individual farmers, as FPOs are seen as being more creditworthy. FPOs have a larger pool of assets and members and can negotiate better interest rates.
Increased bargaining power with buyers
FPOs can negotiate better prices for their produce with buyers because they can sell in bulk. This can lead to higher profits for FPO members.
Improved efficiency and productivity
FPOs can help farmers improve their efficiency and productivity by providing access to better inputs, technology, and training.
Better access to markets
FPOs can help farmers to reach new markets and sell their produce at a higher price
Eligibility Criteria For Registering Of Farmer Producer Company Online In India
To register a producer company online in India, you must meet the following eligibility criteria:
Minimum number of members
There must be at least 10 producer individuals or at least 2 producer institutions as members.
Minimum number of directors
There must be at least 5 directors.
Minimum capital
The company must have a minimum capital of Rs. 5 lakhs.
Name of the company
The company’s name must end with the words ‘Producer Limited Company’.
Registered office
The company must have a registered office address in India.
Documents Required For Producer Company Registration
The following documents are required for producer company registration in India:
- PAN card of all members and directors
- Aadhaar card of all members and directors
- Passport-size photographs of all members and directors
- Registered office address proof (such as electricity bill, gas bill, or rent agreement)
- Memorandum of Association (MoA)
- Articles of Association (AoA)
- Digital Signature Certificates (DSCs) of all directors
- No Objection Certificate (NOC) from the landlord of the registered office premises (if applicable)
- Copy of the Producer Certificate issued by the District Horticulture Officer (DHO) or any other competent authority (if applicable)
- Copy of the registration certificate of the producer organisation (if applicable)
Producer Company Registration Objectives
The objectives of producer companies are defined in Section 581B of the Companies Act of 2013. These objectives include:
- To provide benefits to its members by undertaking activities related to the production, harvesting, procurement, grading, pooling, handling, marketing, and selling primary agricultural produce.
- To provide financial services to its members, such as extending credit facilities and providing insurance.
- To provide educational and technical services to its members.
- To promote mutual assistance and cooperation among its members.
- To undertake other activities that benefit its members and the agricultural sector as a whole.
Why True Auditor?
True Auditor is a trusted and experienced partner for FPO registration in India. Our commitment is to offer convenience, expertise, and support throughout the FPO registration process. We specialize in preparing the necessary documents, ensuring compliance, and providing tailored assistance to meet your unique needs. With our transparent approach and cost-effective solutions, we aim to simplify the FPO registration journey, making us the preferred choice for many individuals and groups looking to establish FPOs in India.
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