Aug 13, 2020 | English
Why Farmers Producer Company is important
Now a days there is strong misconception feeling amongst the society that If you are doing agricultural activity it will be loss making activity. The younger generation of farmers is attracted towards jobs and Urban Places. If the farmer gets distracted diverted to others how all will be surviving?
Now a days sole farming has become difficult so there is need to get united for group forming. To provide protection and structure to the group by Law by the way of FPC.
What a Farmers Producer Company can do?
Farming, Fruit production, Handicraft, jungle products, by products, flower growing, cattle raising, plantation, bee farming, cottage industries, diary, food processing, silk farming, production, procurement, harvesting, seeding, pulling, Handling, Marketing, sales, export, import, organic farming, poultry farming, fish project, Ayurveda medicine plant, cold storage, give training to farmers, processing unit, Agro tourism, renewable energy. Company do these by its own or get it done by some other institution. Around 70 types of activities are covered under Farming, and allied business
Objects and Benefits of Farmers Producer Company:
- company can Produce from Shareholders, or imported by Company, harvesting, procurement, Grading, Pulling, Handling, Sales Packing, import, export.
- Processing, Preserving, Drying, Distilling, Canning, Packing Produce from Shareholders.
- Tools and technology services for Shareholders.
- Training and cooperation among shareholders.
- Technical help, skill development, research and development.
- Energy generation ,transmission , conservation of Land and water, care and increase in primary produce
- crop Insurance , farm insurance
- New technology and cooperation
- Doing things for the betterment of Shareholders and assistance.
- Finance to be made available.
- To made available Various Schemes of NABARD and Food processing ministry .
- We can connect city and villages through this Company , our own customers from city will get connection to Rural area and on the other hand with the quality assurance from company will benefited .
- Company can create their own brand and direct sell in the Market without any middlemen, they have bargaining power , with the help of marketing and brand more profit can be earned by Company . Profit will be again shared with Shareholders
- There will be Employment generation at village level , we can get tolerance with natural calamities when there is loss from one activity we can set balance by other activities of Company. We can get raw material from outside and can generate employment .
- Company will buy seeds and fertilizers in bulk which will get concessional rate and will be made available to shareholders at low rate . with the help of modern techniques , training, and proper use of natural resources like water we can increase the production of farming.
Visits: 667
Jul 15, 2020 | English
To have the Collective farmers under one roof with the help of Law ,
As per Companies Act 1956/2013
Shareholders :
Minimum 10 farmers or 2 Producer organizations Producing primary produce or their combination will come together and form Farmers producer company (FPC ) , ( Primary Produce Means: Farming ,Handicraft ,Fisheries and agro allied business) It is a farmers Private Limited Company .Farmers are the shareholders of Company ( need 7/12 extract as a proof) .
Benefits of FPC:
- Aim of FPC is to brings farmers under one roof collectively.
- To provide agro raw materials like seed ,fertilizers in affordable rates and give proper rate for produce of farmers.
- to incorporate modern techniques ,efficient use of water, training of modern techniques of farming.
- Farmers will have loan nearly 40 % of their Capital Contributed.
- For more shareholders Banks will provide loan upto 1 Lakh.
- FPC will sell produce under its Brand Name ,direct selling and avoiding middle men.
- Easy loan available from NABARD around 10 Lakhs without interest.
- Company can install solar plant , processing unit ,fisheries ,handicrafts around 70 different types of agro allied activities can be done.
For Example
- Sahayadri Farmers Producer Company Nashik ,export.
- Vanila India producer Company ,Kerala ,4 CR. turnover each year.
- Bhangar Producer Company Kolkata ,suppliers of Mother Diary.
Visits: 572
Jun 10, 2020 | English
Sorry for Delayed posting . We missed the date of posting because of the Corona extra work .
Sudama : “Hello friend shrihari is it possible to meet your friends today , we met that day at your place and this lockdown stopped my steps , now slowing opening up can we meet please ask. “
Shrihari : “yes sure we are thinking to meet , so let’s meet tomorrow”.
The next day they both visit Shrihari’s friend
Dhananjay: welcome, I was waiting for you.
Shrihari : ” He is my friend Sudama ,I had mentioned about him , he wants to know more about LLP
Dhananjay: “yes sure , Come let’s talk with tea “
” Me and my 2 friends started with LLP . Where me and one close friend of mine are Designated partners and third friend is just a partner .
So we 2 are like Director shareholders in Company and third friend is just like a shareholder.”
“We decided to contribute as per our capacity, we had decided our profit sharing ratio and some other important information considered and put in in the LLP Agreement, like distribution of work , if we wish to add partner then what should be done ,if any mishap then what all such kinds of questions we answered and jot them down in agreement”
Sudama: “Ok I understood , but is it complicated like Company Procedure?”
Dhananjay: “No no Dear it’s not a company things are not much complicated, but you will get the benefit of company like Limited liability.”
Sudama: yes , Shrihari told me about this .
Dhananjay: “one more thing to be kept in mind that we need to do Annual filing for LLP like we file income tax return every year even if there is nil income Like that we have to file Annual filing
1. Annual Return
2. Financial return Which should be filed before May and October end respectively. Late filing will attract penalty .
This return to be filed with MCA ministry of corporate affairs”
Sudama: “Thanks for your valuable suggestions.”
Dhananjay: “Shrihari is the valuable suggestion giver”.
Shrihari : ” I will act Like Adviser , but you have to act on yourself”.
Dhananjay: “Yes I know Parth Sarathi ”
Visits: 593
May 8, 2020 | English
Chat of Shrihari and Sudama
Shrihari : ” Hello , Dear Friend We are meeting after long time “
Sudama : ” Yes Dear I was thinking of doing something different so was a bit busy “
Shrihari : ” But what are you exactly willing to do or trying to do ? “
Sudama :” Dear Shrihari, I wish to start my own business . One of my old friend is ready to assist me , but I am confused that how to start a Company. At the initial stage it seems to be difficult for me .”
Shrihari : ” Wow that great .It`s nice you have met me . One of my friend recently started Limited Liability Partnership that can be a good option for you .”
Sudama: ” I have heard about partnership but what do you mean by Limited Liability !!!”
Shrihari : ” Wait Wait , I will tell you ,LLP is a golden combination of features of company and Partnership
- Our normal Partnership got registered under Partnership Act , 1932 , LLP gets Register under LLP Act , 2008 with Ministry of Corporate Affairs .
- Like normal Partnership Deed , LLP Agreement is to be drafted and registered .
- Under normal partnership partners liability is unlimited that means when there is some dues to be paid and partnership is not in a position to pay those dues then the personal Property of the partners could be attached to repay those dues , where in LLP Liability of Partners is Limited to the contribution made by them , their personal property ,assets cannot be attached to repay the dues of LLP
- Like Company LLP is having Separate legal existence and perpetual succession , if the initial partners dies or leaves partnership then LLP will continues with new partners . This is not the case with usual partnership after initial partners that partnership need to be dissolved
- In company shareholders changes but Company remains the same , likewise partners of LLP Can change but LLP will be remain Alive .
Sudama : ” Shrihari my friend you are indeed a true friend of mine , I will surely visit your place tomorrow to get more information about LLP , You just made me feel comfortable , Thanks a Lot ” © CS Dhanashree Sathe
Visits: 631
Apr 8, 2020 | English
Hello,
Stay at Home be safe.
Since there is lot of discussion on Corona everywhere I will not discuss it .
Are you aware that there can be private company of one person ?
Now you will start saying that on last blog I have shared that the private limited company requires min. 2 share holders and now I am saying this ?
Wait wait ,
There is a different type of private limited company called as One person company ( OPC)
While writing it’s name it will be e.g.
ABC (OPC) private limited
It’s a private limited company where only one shareholder will be there and he will be the Director of company.
It is not a proprietary firm it’s a private limited company
Salient features
1. Company is having separate legal existence.
2. Even then only one shareholder company and shareholder Director are separate from each other .
3.Only one shareholder and the same is director. There may be some more Directors but they do not own any shares of company.
4. All the features like separate legal existence, artificial person created by law are applicable to OPC
5. When OPC crosses turnover 2 Cr. Consecutively for 3 years then one more shareholder is to be added and OPC to be compulsorily converted to regular private limited company.
6. For voluntary conversion company must have completed 2 years.
7. Feature available to other limited company i.e limited liability is also available to. OPC
This is a very useful form for small business owners or who intend to start their business.
Visits: 644
Mar 8, 2020 | English
Hi all ,
Wishing all the Women Happy International Women’s Day !!!
Toady on this special day I would like to start with giving thanks to my better half my beloved husband for being always with me for support and help and not just for women’s Day . I would also special mention and thanks to my both father’s i.e. my own father and my father in law for supporting me .I am blessed having a father who always supportive and made me strong enough , he never made a concern of me being a women can’t do some activities instead he made me more empowered.
Today’s blog is dedicated to these 3
May all women’s will have well-wishers .
Today we will see information about public company
Public company is owned publicly, whose shares are available for buy and sell publicly.
2 types of public companies.
1.Listed public company
2.unlisted public company
1. Listed public company is that whose shares are listed on a stock exchange where shares can be bought and sold in the share market.
2. Unlisted Public company means whose shares are not listed on stock exchange but which is publicly owned and shares are available publicly.
Like public limited liability if shareholders of public company is limited to the extent of shares held by them.
More information:
1. Public company will work and will be live unless closed down by law or dissolved .
2. Company have separate legal existence,have its own name and address and Registration number.
3. Public company will have min. 7 shareholders and maximum number is no restriction
4. Company do not have body it acts through it’s Directors and give them authority to act on behalf of company.
5. Listed company have to follow various rules of stock exchange some declaration are to be given compulsory , to keep the transparency in operation of company.
6. Public company is accountable for its shareholders, so Directors have responsibility to observe good governance.
7. Public company can be converted into private limited and private company can be converted to public.
See you soon !!!
Visits: 490
