Home Contact Us Login Experts Blog

What do you mean by Producer Company?

A Producer Company is founded to engage in any activity related to or related to primary produce. To put it another way, a Producer Company is a business founded with the primary goal of producing, harvesting, procuring, grading, pooling, handling, marketing, selling, or porting the members' primary produce or importing commodities or services for their profit.

Benefits of Annual Filing for a Producer Company

Compliance with company law is a legal requirement for all businesses, and it promotes openness. Consistent compliance improves the company's trust.

  • Annual compliance is vital for maintaining active status.
  • Annual compliance ensures clients that the company evaluates its operations regularly. That is why people are more likely to trust the company's behaviour.
  • Annual compliance provides you a leg up on the competition. It can promote a business and reassure investors or customers about its operations.
  • Companies' annual compliance guarantees that the data gathered for annual compliance is accurate.
  • When smaller companies fail to comply with annual compliances, they can face severe penalties. As a result, yearly compliance ensures that significant penalties are avoided.

The procedure for completing an annual compliance report for a producer company is as follows:

The information must be gathered to file the annual compliance report. They are as follows:

  • A balance sheet that has been audited
  • Accounts Payable and Receivable audited
  • A financial statement that has been audited
Form MBP 1

In the first board meeting, every director must disclose their stake in any company, firm, or other AOI (including any shareholding interest) by filing Form MBP 1.

Form DIR 8

Each Financial Year, every company director must file a non-disqualification disclosure.

MGT Form 7

The Producer Company is required to file an Annual Return in Form MGT-7 with the most up-to-date information on its directors and stockholders.

AOC Form 4

Financial Statements in Form AOC-4, including the Balance Sheet, Profit and Loss Account, Directors' Report, Cash Flow Statement, Auditor's Report, and Consolidated Financial Statement, must be filed with the Balance Sheet, Profit and Loss Account, Directors' Report, Cash Flow Statement, Auditor's Report, and the Consolidated Financial Statement.

ADT form 1

The auditor for the company will be appointed as Directors within 30 (thirty) days of the company's incorporation date. ADT-1 will be used to record the appointment.

DPT Form 3

The Return of Deposit should be filed in FORM DPT-3 with the Registrar of Companies.

Documents Required

  • MOA and AOA of the Company
  • Complete Financial Statement of company
  • PAN Card and Aadhar Card of Directors
  • Board of Director’s Report
  • Complete details of members of company

Plans

Rs. 7999 All inclusive price

Starter

  • Company Having Turnover Up to Rs. 50 Lakhs
  • Annual Filing Of MCA
  • Board Resolution Related Work
  • Director KYC (Up to 5 Director)
  • Expert Support
Rs. 11999 All inclusive price

Plus

  • Company Having Turnover Up to 1 Crore
  • Annual Filing Of MCA
  • Board Resolution Related Work
  • Director KYC (Up to 5 Director)
  • Expert Support
Rs. 46999 All inclusive price

Pro

  • Company Having Turnover Up to 2 Crore
  • Annual Filing Of MCA
  • Board Resolution Related Work
  • 12 Month Business Accounting
  • Financial Statement Preparation
  • Company ITR Filing
  • Director KYC (Up to 5 Director)
  • Expert Support

FAQ's

Yes, a Producer Company must hold a minimum of four Board Meetings with no more than a three-month interval between them.

All MCA-registered businesses must provide a 'Balance Sheet and Profit & Loss Statement with Directors' Report and Auditors' Report' in the appropriate format, including a declaration on the company's solvency. The directors are in charge of this task.

2 of the company's directors must sign the Annual Return.