Let’s first comprehend the concept of introducing Farmer Producer Companies before we go into the procedure for acquiring Farmer Producer Company Registration in India.In India, 62% of the population is directly or indirectly reliant on agriculture. However, due to the unorganized agricultural approach and the lack of cutting-edge technologies, the condition of farmers in India is quite bad.

As a result, the government has formed an expert committee to conduct a thorough investigation. The Farmer Producer Company was established as a result to assist farmers in utilizing cutting-edge technology and raising their yields. One can operate the Farmer Producer Company without any legal complications by registering a producer company in India. Farmers will also be better organized, and their standard of living will also increase.

So, if you have a strong interest in agriculture and want to launch your own business to increase your income, a producer firm would be your best bet. But you must get approval from the relevant authority before you begin your new business. In this article, we will go through the process of Farmer Producer Company Registration in detail. 

Formation of a Farmer Producer Company 

Creating a producing firm entails-

1. Ten or more people, all of whom are producers;
2. A minimum of two producing institutions;
3. Ten or more individuals combined with producing institutions

The producing firm is required to achieve its goals as outlined in the Act. After obtaining the required paperwork, the registrar will issue the certificate of incorporation in 30 days. The objective of the Farmer Producer Company is related to all or any of the following matters-

• Production
• Harvesting
• Procurement
• Grading
• Pooling
• Handling
• Marketing
• Selling 
• Import/export of primary produce

Documents Required for Farmer Producer Company Registration 

The applicant must provide the necessary documentation in order to obtain Farmer Producer Company Registration in India. These are what they are-

• PAN card as proof of identity for the company’s directors or members.
• Aadhaar, passport, or election ID card as evidence of address.
• A passport-sized image of each director and shareholder.
• A copy of the most recent utility bills, such as the phone, water, or electricity bill.
• A copy of the rental agreement and the owner’s NOC.
• A certified copy of the relevant documents, if the applicant is the property’s owner.
• Any records that the authority may require.

Step-by-Step Procedure for Farmer Producer Company Registration 

Registration for a Farmer Producer Company follows a similar process to that for a Private Limited Company-

Step 1.Name Approval: The applicant must first select a suitable name and legalize the suggested name using the SPICe+ form.

Step 2.Obtain DSC and DIN: Getting a DIN and DSC (Digital Signature Certificate) is the following step in the process (Director Identification Number). Furthermore, DSC is issued by the Certifying Authority and is required to sign papers electronically or digitally. Additionally, all prospective company directors must have a DIN. Additionally, the same can be obtained by simply submitting the SPICe+ form; a separate Form is not required.

Step 3.Drafting of the Memorandum of Association and the Articles of Association: After obtaining the DSC & DIN, an application for incorporation must be submitted in SPICe+ form with all required documents, including the MOA (Memorandum of Association), AOA (Article of Association), an affidavit signed by all members, and the declaration regarding the capability to act as the company’s legal subscribers (Registrar of Companies).

Step 4. Filing of additional documents, such as an oath signed by the proposed company’s subscribers and a statutory statement in Form-1 proclaiming compliance with all applicable laws surrounding the establishment of businesses. The director’s approval, a utility bill, and a NOC are needed.

Step 5.After the certificate is issued, the company will become a corporate entity with the same legal status as a private limited company. It cannot in any way change its status to a public limited corporation.

An integrated digital form known as SPICe+ offers 10 different services from 3 separate Ministries that operate at the state and federal levels. This electronic form streamlines the registration process and saves the applicant money and time. Given the continuing EODB program, the Indian government has launched the SPICe+ form (Ease of Doing Business). From the date of application receipt, MCA typically needs 30 days to issue the Registration Certificate.

Conclusion 

Farmer Producer Company Registration in India is governed by the Company Act of 2013^[1] and is required to abide by its provisions. Each producer, director, or member of the producing company is responsible for carrying out their responsibilities in accordance with the rules of the provisions. Seek professional help for Farmer Producer Company Registration. You can also directly contact Bizadvisors.io.

Read our article:All You Need to Know about Producer Company in India