Producer Company Registration in Bangalore

Producer Company Registration in Bangalore

PRODUCER COMPANY REGISTRATION IN BANGALORE

Part IXA of Company Act, 2002 concerns about the Indian Producer Company in Bangalore, where the introduction of this concept was to frame legislation allowing incorporation of collaboration as the company and existing conversion of existence.

Documents required for registration:

1. Copy of PAN Card

2. Passport size photographs

3. Voter identity card/Aadhaar Card Copy

4. Rent agreement or Property Papers Copy

5. Water/Electricity bill (Business address)

6. Landlord NOC


What are the benefits of registering producer companies in Bangalore?


Limited Liability

The members of a Producer Company in Bangalore have unlimited liability as the company is an entity itself. Even if the amount invested in the business would be lost and the directors' property would be safe.

Better Management

Producer Companies work in Bangalore divided among the Directors rather than a single farmer managing the entire business. The entity is governed by the Management board which is functional for a tenure of five years.

A producer company has a separate legal existence which means that is not affected by any of its member's death.


Created & Posted by Navneet

Income Tax Expert at TAXAJ

 

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