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WHAT IS A PRODUCER COMPANY?
A company incorporated under Companies Act, 2013 with the sole purpose of providing benefits, technological aids, support, training etc to the farmers, agriculturalist more commonly known as primary producers. Only person belonging to the primary producer category can became member of a producer company and can avail benefits provided by such company.
MINIMUM CRITERIA FOR REGISTERING PRODUCER COMPANY IN JHARKHAND?
A producer company can be incorporated by a minimum of 10 members or 2 institutions or a combination of both of them. The members must belong to the primary producer category and the institution must be the one involved in primary produce and incorporated specifically for the purpose of working in Primary sector. By definition a producer company is a private limited company.
A producer company shall have a minimum of 5 directors
CAN A PRODUER COMPANY ACCEPT DEPOSITS AND GRANT LOAN?
No a producer company cannot accept deposit form its members in its normal course of business, neither can he grant loan at interest to its members. A producer company can issue debentures subject to the provisions of the act.
CAN A GROUP INVOLVED IN DAIRY FARMING INCORPORATE A PRODUCER COMPANY IN JHARKHAND?
Yes, people dealing with milk giving cattle are also regarded as primary producers and so they can also incorporate a Producer Company subject to the fulfilment of the terms and conditions.\
Documents/Information Required for Incorporating a Producer Company in Jharkhand
Members (Minimum 10)
- A copy of PAN
- A copy of Voter ID or Driving License or Aadhar Card
- Up to date bank passbook or bank statement or utility bill in the name of members
- 2 Passport size photograph
- Mobile Number and E mail Id
- For Registered Office
A copy of Electricity Bill or A copy of Gas bill and Gas Passbook
- Company Name and Object.
The Name of the company ends with the word PRODUCER COMPANY LIMITED.