Producer Company Registration
Producer company can be registered for farming and agriculture by those involved in agricultural activities. Register a Producer Company.
Producer Company OverviewA Sole Proprietorship is a type of unregistered business entity that is owned, managed and controlled by one person. Sole Proprietorship is the most common form of business in India, used by most micro and small businesses operating in the unorganised sectors. Proprietorships are very easy to start and have very minimal regulatory compliances requirement for starting and operating. So, its ideal for small businesses and first-time Entrepreneurs who would like to get a taste for business. A producer company can be defined as a legally recognized body of farmers/ agriculturists with the aim to improve the standard of their living, and ensure a good status of their available support, incomes and profitability. Under Companies Act 1956, a Producer Company can be formed by 10 individuals (or more) or 2 institutions (or more) or by a combination of both (10 individuals and 2 institutions) having their business objective as one of the following:
of the primary produce of the Members or import of goods or services for their benefit. The main objective of the producer company is to facilitate the formation of co-operative business as companies and to make it possible to convert existing co-operative business into companies. |
