Producer Company Registration In Salem
The process of registering a Producer Company in Salem and a Private Limited Company is very similar. The whole process can be completed online within 7-10 days.
- The first step is to obtain the Digital Signature Certificate and the Director Identification Number for the proposed directors of the Producer company.
- An application for reserving the name can be filed with the Registrar of Companies (ROC) after the Digital Signature Certificate and the Director Identification Number. The name has to end with the Producer Limited Company.
- After the ROC's approval is obtained an application is filed in the prescribed format for incorporating the Producer Company in Salem.
- The incorporation certificate is issued if the registrar is satisfied with the application for incorporating the producer company.
The functioning of the producer company is similar to the Private Limited Company but unlike the private limited companies, there is no limit on the number of members.
Types of producer companies in Salem.
There are different types of producer companies in Salem based on the operations which are mentioned below:
Production, procurement manufacture the members and the others primary producer is the producer companies primary function.
A business that is involved in the marketing or promoting the primary produce or the provision of the education service to the members and others can also constitute itself as a Producer Company.
A business that is offering technical assistance to the producer that provides the training and educational services or conducting research and development can register a Producer Company in Salem.
A business financing producing the activities then be it production or marketing or even development then it can be registered as a Producer Company in Salem
The business involved in providing the infrastructure to the producers, whether in the form of electricity, water resources, irrigation techniques, or consultation regarding the same, may also constitute a Producer Company.
Features of a Producer Company
The members of a Producer Company have unlimited liability as the Company is registered as an entity. In case of liabilities, the invested amount would be lost and the property of the Director would be safe.
Rather than a single farmer managing the entire business, the producer companies work is divided among the directors. This entity is governed by the Management board which has a tenure of 5 years. A producer company has a separate legal existence which means that is not affected by the death of any member.