Step 1: Obtain Digital Signature Certificate (DSC): All prospective directors must obtain a DSC to digitally sign and authenticate the incorporation documents.
Step 2: Apply for Director Identification Number (DIN): Apply for DIN via the MCA portal for each director who does not already possess one.
Step 3: Reserve Company Name: Choose a unique name ending with “Producer Company Limited” and submit a name reservation request through the MCA for approval.
Step 4: Draft MOA & AOA: Prepare the Memorandum of Association (MOA) and Articles of Association (AOA), clearly defining the company’s purpose, rules, and governance structure.
Step 5: File SPICe+ Form: Submit the SPICe+ form along with necessary supporting documents, including ID and address proofs, MOA, AOA, and required declarations, via the MCA portal.
Step 6: Receive Certificate of Incorporation: Once approved, the Registrar of Companies (ROC) issues the Certificate of Incorporation, officially recognizing the Farmer Producer Company.
Step 7: Obtain PAN & TAN: Apply for the company’s Permanent Account Number (PAN) and Tax Deduction and Collection Account Number (TAN) for tax compliance and statutory requirements.
Step 8: Open a Bank Account: Open a dedicated bank account in the company’s name to facilitate all financial transactions and operations.