REGISTRATION OF A PRODUCER COMPANY

A step-wise basic information for the registration of a ‘Producer Company’ is described as under:

Step 1: Digital Signature Certificate (DSC):


The Information Technology Act, 2000 has the provision of use of Digital Signatures on the documents in order to ensure the security and authenticity of the documents filed electronically. It is now mandatory to have Digital Signature of minimum one Director or Chairman prior to entering the formal registration process.

Step 2: Director Identification Number (DIN)


The DIN number can be obtained online by providing identification proof number (Only PAN Card, Voter Identity card, passport or driving license number is accepted.

Step 3: Naming of a Producer Company


A Producer Company should be named using the following suffix “…..Producer Company Limited” appropriately indicating its status of Producer Company. The word “private” is not used in the name and the absence of which does not indicate that the company is a “public”. The procedures for selecting and applying for the availability of name for a Producer Company are:

  • Select, in order of preference, at least one suitable name up to a maximum of five names, indicative of the main objects of the company.
  • Ensure that the name does not resemble the name of any other already registered company.
  • Apply to the concerned Registrar of Companies to ascertain the availability of name in e-FORM INC-1.
  • If all the proposed five names are not available, the applicant will be intimated by Registrar of Companies (ROC) and subsequently the applicant has to apply for a fresh name on the same application.

Step 4: Documents to be submitted to the ROC for the Incorporation of Producer Company


File the following documents along with the fees payable with the Registrar of Companies of the state, where the Registered Office of the company is to be situated:

1.  INC-7 DECLARATION OF COMPANY

Attachments:

  • MOA
  •  AOA
  • Declaration in Form No. INC-8
  • Affidavit from each of the subscriber to the memorandum in Form No.INC-9
  • Proof of residential address

2. INC-22 REGARDING SITUATION (FULL ADDRESS) OF REGISTERED

Attachments:

  • Proof of Registered Office address Conveyance/Lease deed/Rent Agreement along with the rent receipts) etc.
  • Copies of the utility bills as mentioned above (not older than two months) (ONLY TELEPHONE/MOBILE/GAS & ELEC BILL ALLOWED).
  • A proof that the Company is permitted to use the address as the registered office of the Company if the same is owned by any other entity/ Person (not taken on lease by company)
  • Copy of order of competent authority.

> Proof of Identity
> Voters Identity Card
> Passport
> Driving License
>Aadhar Card

  • Residential Proof
    >  Bank Statement
    >  Electricity Bill
    >  Telephone Bill
    >  Mobile Bill
  •  DIR-12 DIRECTOR APPOINTMENT (Minimum 5 directors)

Attachments:

a) Letter of Appointment (For Existing company Only)

b) Declaration by the first Directors

c) Declaration of the appointee Director, in Form DIR-2
>  An affidavit has to be submitted if the Memorandum of Association is submitted in Hindi by subscribers, claiming the understanding of same.
>  Power of Attorney.

Step 5: Certificate of Incorporation


  • The Registrar of the Companies, on being satisfied that all the documents for the incorporation of a company is submitted, s/he is obliged to register the memorandum,the articles and other documents, if any, and issue a certificate of incorporation’within thirty days, which is a conclusive proof of its formation in terms of Part IX A. [Section 581C (2)].
  • The incorporation of Producer Company is effective from the date mentioned in the certificate of registration granted by the Registrar of Company..

Step 6: Tasks to be completed immediately after incorporation of the PC


The following tasks have to be completed immediately after incorporation:

  •  Open a Bank Account with minimum two officially nominated signatories in the name of the Company.
  •  Procure PAN number from the Income Tax and TIN number from the Commercial Tax Department to carry out business. Also, the company has to register itself for Service Tax from Commercial Tax Department and VAT from Excise department

Published by

Badal Gurung

Mr. Badal Gurung is the student of Chartered Accountant (Final) as well as IGNOU (B.Com). He is currently working at Himanshu Kumar & Associates in Barakhamba, New Delhi, India.

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