Producer Company Compliance Checklist: Everything You Need to Know

  • February 20, 2023
  • Registrationwala
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A Producer Company is a corporate body registered under the Companies Act of 2013. Every Producer Company, as per the Act, involves itself in carrying out any of the following activities post its registration:

Primary Produce Activities of the Company’s Stakeholders or Members, such as:

  • Production
  • Harvesting
  • Processing
  • Procurement
  • Grading
  • Pooling
  • Handling
  • Marketing
  • Selling
  • Export

A Producer Company can also involve itself in rendering the following services in the production of primary produce:

  • Technical Services
  • Consultancy Services
  • Training
  • Education
  • Research and Development
  • Other activities for interest promotions of the Company’s Members

To know more about the Objects of a Producer Company, refer to our

Producer Company service page.

Every Producer Company, after its registration, must file for its annual compliance with the Authority. This post-Producer Company formation procedure offers many benefits as it serves the Legal Requirements expected of a Producer Company from the MCA.

 

Mandatory Compliance post-Producer Company Formation

As per the provisions of the Producer Company stated in the Indian Companies Act, every Producer Company, like most company structures, must file the following compliances periodically in the manner and timeframe specified in the referred regulations.

Form MBP-1 Filing

As per section 184(1) of the Producer Company Act, every Producer Company’s Director for each year must disclose his interest in other entities in the First Meeting of its Board of Directors. Also, they must submit to the Company a fresh form MBP-1 for any change in their interest from the earlier MBP-1 filing.

Form DIR- 8 filing

As per section 164(2) 143(3)(g) of the Producer Company Act, every Producer Company’s Director must file with the Company Disclosure of non-disqualification in each Financial Year.

E- Forms Filing: MGT-7 filing

As per section 581ZA of the Producer Company Act, every Producer Company must file its Annual Return within 60 days of holding the AGM, i.e., the Annual General Meeting. The MCA will keep Annual Return from 1st April to 31st March every year.

E- Forms Filing: AOC-4 filing

As per section 581ZA of the Producer Company Act, every Producer Company must file its Balance Sheet along with the following documents within 30 days of holding of Annual General Meeting:

  • Audited Balance Sheet
  • Statement of Profit& Loss Account
  • Cash Flow Statement
  • Directors’ Report
  • Auditors’ Report
  • Notice of AGM

 Annual Form DPT-3 filing

As per section 73 Rule 16, every Producer Company must file DPT-3 form every year before 30th June for Return of Deposit and Particulars as non-Deposit as of 31st March.

Event-Based Form BEN-2 filing

As per section 90 BEN-2 of the Companies Act, every Producer Company must file form BEN-2 within 30 days of receipt of BEN-1 from its shareholders. The Company must periodically check for any SBO in Company due to a change in its shareholding or shareholding of corporate body members. 

DIR-3 KYC Form Filing

Every director of the Producer Company must file the annual form DIR-3 KYC, as per the Rule 12A of the Companies Act, on or before 30th September every year for all its directors.

Half Yearly Returns MSME-1 Filing

As per section 405 of the Companies Act, every Producer Company, for the delay in MSME Vendor Payment, must file a return half yearly at the end of a half year, namely:

  • April to Sep – 30th  October
  • October to March – 30th April 

For more on Annual Compliance after Producer Company Registration in India, connect with the Incorporation Experts at Registrationwala. Our seasoned professionals will brief you on the requisite compliance filing procedure.


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