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Producer Company
25 followers -
Producer Company
Producer Company

25 followers
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The first directors need to be elected by the customers to the memorandum and posts of association within ninety days from the date of producer company registration.

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The period of holding of office of the directors of a Producer Company will vary from one year to five years based on the provisions made in the Articles of Association.

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Minimum 5 directors are necessary for a Producer Company.
 A Producer Company can have a maximum of fifteen directors.

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There is no limitation on the maximum number of members of a Producer Company.

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Minimum 10 individuals or more producer organizations or any combination of 10 individuals and producer institutions are needed for including a Producer Company.

The minimum paid-up capital essential for development of a Producer Company is Rupees Five Lakhs only.

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Producer Company can have just equity share capital.

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A group of ten/more people or two/more producer institutions or a combination of ten/more people and producer institutions can register as a Producer Company on the condition.

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In a producer company, you can make agriculturist members and allow deposits in type of FD/RD and supply them maturity in addition to disperse loans to your farmer members and charge interest from them.
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