A producer is a person who manufactures tangible goods like consumable goods, machinery, etc. Whereas a production company is a corporate body having an object that is one or all of the elements like production, harvesting, procurement, grading, pooling, handling, marketing, selling, export of primary production of the Members or import of goods or services for their benefit. However, it makes sure that they are selling sufficient supply as demanded by the buyer.
Steps to Register a Producer Company
Given below are the steps according to which a Producer Company can easily get itself registered.
The Digital signature on the submitted documents will be in electronic form in order to maintain the customer’s security and authenticity of the documents filed electronically. All the filings will be required to be filed with the use of Digital Signatures by the person authorized to sign the documents. DSC is acquired through the Certifying Authority (CA) that issues a digital signature. Certifying Authority means a person who has been granted a license to issue a DSC.
DIN for Directors
DIN is a unique 8- digit Director Identification Number allotted by the Central Government to the proposed or an existing Director of a company. The DIN number has lifetime validity. With the help of Direct Identification Number(DIN), the details of the directors are maintained in the database.
The approval of the company name is very important during the registration process. To file for name approval, Form INC – 1 is to be filed with the Registrar of Companies (ROC) giving 6 names in the order of preference along with the significance of the proposed names. The name should mandatorily incorporate PRODUCER COMPANY as the suffix. Therefore, any suitable name can be selected for registration, subjected to the prescribed guidelines.
The name should indicate, as far as possible, activity as stated in the main objects of the proposed company. The names should not too closely resemble the name of any other registered company or any other intellectual property. The selected name should not violate the provisions of the Emblems and Names (Prevention of Improper Use) Act, 1950. However, the ROC will provide an online generated written confirmation of the name that it allows the proposed name to be used for the prospective company.
Memorandum of Association (MoA) & Article of Association (AoA)
An important step in company registration is a preparation of the Memorandum of Association (MOA). It is the charter of the company and lists the basic conditions on which the company is incorporated. While the AOA contains rules, regulation, and by-laws for the general management of the company. Hence, it is compulsory to get the MoA and AoA registered. However, a declaration by a professional has to be drafted in the format of form INC – 8 along with the following documents:
- An affidavit signed by all the subscribers of the proposed company, declaring their legal competency to act as the subscribers.
- A utility bill and a NOC to be taken from the owner whose address is to be used as the registered office of the company. However, if it is not owned, a lease agreement will be attached to the form.
- The directors will give their consent to act in the Form DIR – 2 and details in DIR – 8.
For the purpose of producer company incorporation, therefore, the following documents are required:
- 1 (One) Passport size photograph of each director
- Identity proof of each director – PAN Card (Mandatory in case of Indian National, If foreign National then Passport is mandatory), duly notarized and attested by an Indian Embassy
- Residence Proof of each director (any of the following)
- Driving License
- Telephone Bill
- Electricity Bill
- Bank Statement (Attested by bank manager)
- AADHAR card