As Indian economy majorly depends on agriculture, during the year 2002, the government of India introduced a business concept called Producer Company with the main objective as to facilitate the formation of co-operative business as companies. Producer companies can help small formers to participate in emerging-high value markets such as export market and the retail markets in India. The Producer Company is one of the business entity registered under the Companies Act, 2013. The objects of the Producer Company are as follows:
Any ten or more individuals, each of them being a producer or any two or more Producer Institutions or a combination of ten or more individuals and Producer Institutions can form a Producer Company under the Companies Act, 2013. Producer Company Registration is regulated by the Central Registration Center (CRC), Manesar, Delhi on behalf of each state jurisdictional Registrar of Companies, Ministry of Corporate Affairs, Government of India. The governing law for the producer companies is Companies Act, 2013.
The name of the producer company should be ended with "Producer Company Limited". Every producer company shall have at least five directors and not more than fifteen directors.
CompaniesHouse is an MCA Authorized Company Registered Agent in India. The object of the CompaniesHouse is to minimize the cost in registering Producer Companies throughout India.
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A DSC stands for Digital Signature Certificate, DSC is required for the shareholders to sing the company eMOA and eAOA wile registering a company.
DIN stands for Director Identification Number, which is an unique identification number generated by the Ministry of Corporate Affairs.
Once the company is incorporated, a DIN is generated for each director.
An authorized share capital is a share capital amount upto which the shareholders can invest in equity of the company.
<Paid up share capital is an amount which is deposited by the shareholders of the compnay in company's bank account towards share capital.
Now the company can be registed with a minimum amount of share capital of Rs. 10/- ie. Rs.1/- investment by each shareholder.
A CIN is a company identificaton number, which is generated by the Ministry of Corporate Affairs while generating the Certificate of Incorporation.
We can treat it as the company registration number.
If we apply direct incorporation without applying for Certificate of Name Availability, it may take 3 to 5 working days. Some times, it may be incorporated even in one day.
But it is advisable to apply first company name and then incorporation and in this case it may take 10 to 15 days.
For one lakh authorised share capital company, the total government fee including Digital Signature Certificates would be approximately Rs. 15,000/-.
CompaniesHouse is authorised by the Ministry of Corporate Affairs to provide company registration service throughout India.
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