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The above-audited balance sheet and profit and loss accounts and director’s report of Producer Company and its subsidiary company shall be with respect to following:
The Producer Company shall hold Annual General Meeting each financial year. The gap between two AGM shall not be more than fifteen Months.
First AGM shall be held within 90 days of its incorporation where the members shall adopt the articles of Producer Companies and shall appoint the Board of Directors.
Any below-mentioned default by Directors of the Producer Company amount to the penalty:
The company may be punishable by the fine Rupee 1 Lakh. If the default is in the nature of continuation than the everyday penalty of rupees 10,000 is levied till the default continues.
Producer Company is a company registered under the Companies Act, 2013, which has the objective of production, harvesting, procurement, grading, pooling, handling, marketing, selling, and export of primary produce of the Members or import of goods or services for their benefit.
An annual return is a document that contains details of a company's share capital, indebtedness, directors, shareholders, changes in dictatorships, corporate governance disclosures etc. In this article, we look at the information filed by company in its annual return in detail
A Farmer Producer Company is a hybrid between cooperative societies and private limited companies. Key Points: The objective of the concept of FPC is to organize farmers into a collective to improve their bargaining strength in the market.
Annual return is a mandatory filing to be made by all Companies in India. The filing along with the required documents must be filed with the Ministry of Corporate Affairs. Filing of annual return with the MCA is different from the filing of annual return with the Income Tax department.