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Formation of Producer Company:
A producer company can be formed in two ways. One, by incorporation and registration as a producer company directly and the other by making an application to the Registrar of Companies for registration as a producer company by any inter-state co-operative society.
For direct formation and registration of a producer company, one needs to have ten or more individuals, each of them being a producer or any two or more producer institutions. These producers and producer institutions must be desirous of forming a producer company and must also have objects and also otherwise comply with the requirements and the provisions of the companies Act, 1956 in respect of registration and form an incorporated company as a producer company.
The interstate co-operative society with objects not confined to one state if intends to be registered as a producer company must make an application to the Registrar of Companies of the state in which it wants to be registered. The said application should be accompanied by a copy of the special resolution, a statement showing names and addresses or the occupation of the directors and chief executive and also a list of its members.
It should also accompany a statement indicating that such society is engaged in any one or more of the objects and a declaration by two or more directors of the said society certifying that the aforesaid particulars given are correct.