Producer Company is a company registered under the Companies Act, 2013, which has the objective of production, harvesting, procurement, grading, pooling, handling, marketing, selling and export of primary produce of the Members or import of goods or services for their benefit. Produce are things that have been produced or grown, especially by farming. Therefore, a Producer Company deals primarily with agriculture and post harvest processing activities.
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The following types of Business entitles are available in India:
Only farmer can be the member of Producer Company.
Producer companies can take the advantages of various central and state government schemes and obtain subsidies for projects.
The Memorandum of Association (MOA) states the main and ancillary objects of the proposed company.
The Articles of Association (AOA) contains the rules and procedures for the routine conduct of the proposed company.
Authorized capital is the maximum amount of share capital for which a company can issue shares. Authorized capital can be increased by company at any time with shareholders’ approval.
Paid up share capital of a company is the amount of money for which share were issued to the shareholder and for which payment was made by shareholder. Paid up capital will always be less than the authorized capital as the company can not issues shares above its authorize capital.
Well, it completely depends on what you want to do. If you are a single person doing business and are not going to raise any outside investment for at least 3 years then OPC suits you best. Or if you are planning to raise funds then go for Private Ltd registration.
A LLP is typically preferred by Lawyers, Doctors, Designers and other professionals.
A company registration process is a legal process that usually takes 8-15 days for registration. However, a fixed time line can not be committed due to legalities involved in the due process.
No, the process is completely online these days and MCA does not issue a Printed copy. We can provide the printed copy.
On receipt of the certificate of incorporation a newly formed company can start the business operations.
Yes, you can register a company at your residential address as having a commercial space is not necessary to get a company in India.
Yes, a company’s address can be changed after acquiring a commercial space. The process of change of company address is very easy and it can be done within hours if the new address is within the same city.
Yes, legally a salaried person can become a director of a company. However, the terms and conditions mentioned in his/her employment agreement may have some clauses that might require an expert advice. We recommend you to speak to us before proceeding in order to make an informed and wise decision.
Yes, an existing company can be converted into any other form of business entity by complying the provisions of Companies Act, 2013.
|Particulars||One Person Company||Private Limited Company||Limited Liability Partnership|
|Recommended For||Solo promoters||Start-ups and growing companies||Professional services firms|
|Limited Liability Protection||Yes||Yes||Yes|
|Tax Advantages||Few benefits||Few benefits||Most Beneficial|
|Registration Authority||Registrar of Companies (ROC)||Registrar of Companies (ROC)||Registrar of Companies (ROC)|
|Management||A single Director is required and a nominee as a successor||Minimum 2 Directors are required||Minimum 2 Partners are required|
|Board Meeting||2 Board Meetings to be held in a year||4 Board Meetings to be held in a year||No such requirement|
|Statutory Auditor||Mandatory appointment||Mandatory appointment||Mandatory Appointment if, capital contribution exceeds Rs.25 Lacs or Turnover Exceeds Rs.40 Lacs|
|Fines & Penalties||Limited||Limited||Unlimited|
|Conversion||Can be converted to Private Limited and Public Limited||Can be converted to Public Limited and LLP||No provision for Conversion|
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Core India Institute of Legal Medicine Pvt Ltd