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A producer company is a group of farmers or agriculturalists with legal recognition whose goals include raising members' living standards and ensuring that their support systems, earnings, and profitability are in good standing. According to the Companies Act of 1956, a Producer Company may be established by 10 or more persons, 2 or more institutions, or by both (10 individuals and 2 institutions) conducting business together.
The goal of such a company would be to instill in its members a habit of being frugal and saving money, and the services would only be available to members.
A Nidhi Company must have a minimum capital of Rs. 5,00,000 to be incorporated.
A Nidhi business must be publicly traded.
The first three documents must be self-attested by each of the directors. All documents for NRIs and foreign nationals must be apostilled or notarized (if they are currently in India or another country that is not a member of the Commonwealth) (if in a Commonwealth country).
Your residence can also serve as your registered office if you like.
A Producer Company must have a minimum of 5 and a maximum of 15 directors to be registered in India.
In order to register a Producer Company, you must have at least Rs 5 lakhs in capital.
Any person or group is eligible to join a Producer Company in India.
Yes, a Producer Company must have its accounts audited in accordance with the terms of the 2013 Companies Act.
No, you do not need to come into our office to register a Producer Company because the full registration procedure is done online. All you have to do is submit the appropriate paperwork through the portal.