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ROC Filing For Farmer Producer Company In Karnataka

Consistent annual compliance is vital for a Farmer Producer Company to maintain its legal standing and prevent heavy penalties. Make sure all filings are completed accurately and on time. Reach out to Auriga Accounting today to initiate your compliance journey and stay ahead of your regulatory requirements.

ROC Filing For Farmer Producer Company In Karnataka

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Why Should I Use Auriga Accounting For ROC Filing For Farmer Producer Company In Karnataka ?

Auriga Accounting has a team of registration experts who can provide complete guidance to register your ROC Filing For Farmer Producer Company In Karnataka.

book appointment

Our team of experts will get in touch with you and collect all necessary documents and details

Resolve all your queries

We fill out and file your application for ROC Filing

Complete your ROC Filing

Ready ROC Filing For Farmer Producer Company In Karnataka

Why Should I Use Auriga Accounting For ROC Filing For Farmer Producer Company In Karnataka ?

Auriga Accounting has a team of registration experts who can provide complete guidance to register your ROC Filing For Farmer Producer Company In Karnataka.

book appointment

Our team of experts will get in touch with you and collect all necessary documents and details

Resolve all your queries

We fill out and file your application for ROC Filing

Complete your registration

Ready Your ROC Filing For ROC Filing For Farmer Producer Company In Karnataka

Overview - ROC Filing For Farmer Producer Company In Karnataka

This guide provides an overview of the mandatory ROC (Registrar of Companies) filing requirements for Farmer Producer Companies (FPCs) in Karnataka. It details essential compliance activities, registration processes, and regular filings needed to adhere to the Companies Act. Ensuring timely and accurate ROC submissions helps FPCs maintain their legal status, fulfill statutory obligations, and facilitate smooth growth and operational efficiency within the state.

The concept of Producer Companies was introduced in 2002 and is governed by Chapter IXA of the Companies Act, 2013. Under Section 378A of the Act, key terms related to Producer Companies are defined. “Primary produce” encompasses products derived from various agricultural activities such as horticulture, animal husbandry, floriculture, forestry, pisciculture, viticulture, re-vegetation, plantations, and beekeeping. It also includes outputs from individuals engaged in handicrafts, handlooms, and other cottage industries, along with any products or by-products generated from these activities.

Key OF ROC Filing For Farmer Producer Company In Karnataka

1. ROC Filing Obligation: Farmer Producer Companies registered under the Companies Act, 2013 must fulfill annual ROC compliance to maintain their legal and active status.

2. Filing of Annual Return (Form MGT-7): This form must be filed within 60 days of the Annual General Meeting (AGM) and provides essential company details, including shareholding structure, board composition, and statutory compliance.

3. Submission of Financial Statements (Form AOC-4): Audited financial documents—such as the Balance Sheet, Profit & Loss Account, Auditor’s Report, and Notes to Accounts—must be submitted within 30 days of the AGM.

4. Mandatory Statutory Audit: Every FPC is required to have its financials audited annually by a practicing Chartered Accountant prior to filing.

5. Digital Signature Certificates (DSC): All directors and authorized signatories must hold valid DSCs to digitally sign and file forms through the MCA portal.

6. Director Identification Numbers (DIN): Each director must obtain a valid DIN from the Ministry of Corporate Affairs to serve in that role.

7. Board Resolutions: Board approval is required for financial statements and all ROC filings. Resolutions must be duly passed and documented.

8. Event-Based ROC Filings (As Applicable): Certain corporate changes require immediate reporting through specific ROC forms, including:

  • DIR-12 – For appointment or resignation of directors

  • INC-22 – For changes to the registered office address

  • SH-7 – For alterations in share capital

Advantages of ROC Filing For Farmer Producer Company In Karnataka

Legal Recognition & Limited Liability: Registering with the ROC provides FPCs with a distinct legal identity, safeguarding members from personal liability for the company’s debts and obligations.

Access to Funding & Credit: Recognized FPCs are eligible to obtain loans, grants, and financial support from banks, government schemes, and other financial institutions.

Improved Market Access & Bargaining Power: By aggregating produce, FPCs can negotiate better prices, expand their market reach, and enhance profitability for members.

Structured Governance & Efficient Management: Registration establishes a formal governance framework that promotes transparency, accountability, and streamlined operations.

Tax Advantages: FPCs may qualify for tax exemptions or deductions on agricultural income under applicable provisions of the Income Tax Act.

Enhanced Credibility & Stakeholder Confidence: Consistent compliance with ROC regulations boosts institutional credibility and fosters trust among members, investors, and buyers.

Shared Investment in Technology & Infrastructure: FPCs can pool resources to invest in modern farming equipment, storage facilities, and processing units, leading to cost efficiencies and increased productivity.

Member-Focused Operations: As member-owned entities, FPCs are structured to ensure equitable profit-sharing and benefits, aligning with the welfare of farmers.

Documents Required Of ROC Filing For Farmer Producer Company In Karnataka

  • PAN and Aadhaar Cards of all directors and members for identity verification.

  • Recent Passport-Sized Photographs of each director and member.

  • Proof of Registered Office Address such as an electricity, gas, or telephone bill, or a rent agreement.

  • Company Incorporation Documents including PAN, TAN, Memorandum of Association (MoA), and Articles of Association (AoA).

  • Digital Signature Certificate (DSC) and Director Identification Number (DIN) for all proposed directors.

  • No Objection Certificate (NOC) from the property owner if the registered office premises are rented.

  • Producer Certificate issued by the District Horticulture Officer or other competent authority.

  • Certificate of Registration of the Producer Organization, if already registered under any prior scheme or law.

  • Director’s Consent Form (DIR-2) duly signed by each director, indicating their consent to act on the board.

Online Process of ROC Filing For Farmer Producer Company In Karnataka

Step 1: Choose Company Type and Name: Select “Producer Company” as the business structure and suggest a unique name ending with “Producer Company Limited.” Ensure that the proposed name adheres to MCA naming guidelines and proceed with the name reservation process to obtain approval.

Step 2: Collect Required Documents: Gather all essential documentation, including identity proofs such as PAN and Aadhaar cards, address proofs like utility bills or rent agreements, and detailed information about the directors and members involved.

Step 3: Obtain DSC and DIN: Apply for Digital Signature Certificates (DSCs) for all proposed directors to enable electronic signing of documents. Concurrently, request Director Identification Numbers (DINs) through the  MCA portal.

Step 4: Draft MOA and AOA: Prepare the Memorandum of Association (MOA) and Articles of Association (AOA), which define the company’s objectives, organizational structure, and internal governance rules.

Step 5: Submit SPICe+ Application: Complete the online SPICe+ registration form on the MCA portal. Use Part A for name reservation and Part B for company incorporation. Upload all required documents and submit the application for review.

Step 6: Obtain Certificate of Incorporation: Following successful verification, the Registrar of Companies (ROC) issues the Certificate of Incorporation, officially establishing the Producer Company as a legal entity.

 

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2023-06-10
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2023-04-07
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