What is Producer Company Compliance?


A Producer Company is a company registered under the companies act, 2013 with the objective of production, harvesting, promote the technique of mutuality, etc. Like other registered companies, a producer company also needs to file compliances rightly and on an annual basis in order to make sure good legal standing. Failure to adhere to the compliances can cause the government to hit you with varying degrees of penalties that extend from paying the punishment fees to company closure as well. Hence, these compliances are not optional but mandatory. Following are the annual compliance of a producer company:

Hold Annual General Meeting each financial year.
Audit balance-sheet and profit and loss accounts of the Producer Company.
File annual Return.


Rietway Consultants Producer Company Compliance Package


The Services which are included in our package are as Follows:
✅ Preparation of Financial Statements
✅ Annual Report
✅ Director’s Report
✅ Director’s KYC
✅ Income Tax Return of Company
✅ Filing of Form Aoc-4 to ROC
✅ Filing of Form MGt-7 to Roc
✅ Filing of Form INC 20 A for Commencement of Business


Documents Required for Producer Company Compliances


1. Certificate of Incorporation
2. MOA/ AOA of Company
3. Digital Signatures of Director
4. Bank Statement of Company


Producer Company Compliances Procedure


Step -1 Arrange all Required Documents: The first step is to arrange all the documents and send the same over the email / WhatsApp to us. Once all the Documents are Received, we will Start the Further Process.
Step-2: Preparation of Documents: The Next Step is Preparation of Documents to be Submitted at Department.
Step-3: Finalization of Balance Sheet and ITR: The Next Step is Finalization of Balance Sheet and ITR to be submitted.
Step-4: Preparation of Notices and Board Minutes: The Next Step is Preparation of Notices and Board Minutes.
Step-5: Submission of Forms: The Next Step is Filing of Forms i.e ADT-1. AOC-4. MGT-7 to ROC.



What are the Annual compliances required in a Producer Company?


1. The Board shall hold four meetings every year with the gap of not more than three months between two meetings by giving seven days’ advance notice.

2. The Producer Company shall hold Annual General Meeting each financial year. The gap between two AGM shall not be more than fifteen Months. The AGM shall be called by issuing at least 14 days’ notice.

3. The Producer Company shall hold Annual General Meeting each financial year. The gap between two AGM shall not be more than fifteen Months. The AGM shall be called by issuing at least 14 days’ notice. A Producer Company shall hold its first annual general meeting within a period of ninety days from the date of its incorporation.

4. Every Producer company is required to file its Financial Statements, along with Notice calling General Meeting, Directors Report, Auditors Report and Balance sheet to ROC in Form AOC-4 within 60 days from the date of Annual General Meeting of the Company.

5. Every Producer company is required to file its Annual Return along with List of members of Producer Company in Form MGT-7 within 60 days from date of Annual General Meeting.

6. Every Producer Company shall have internal audit of its accounts carried out in such intervals and in such manner as specified by its articles, by a Chartered Accountant.


FAQ on Producer Company?


What is the Requirement of Board Meeting in Producer Company?
The minimum number of Board Meetings required in a Producer company is 4 and not more than 3 months gap should be there between two Board Meetings.The quorum for such Board meeting will be 1/3rd of the total strength or 3 whichever is greater.

What happens if annual return not filed?
Any Director who has defaulted in the filing of annual return of a company can also be penalized with an imprisonment of a term extended up to six months or with a fine of an amount not lesser than fifty thousand rupees and it might extend up to five lakh rupees, or with both imprisonment and fine.

What is the time Limit of Filing of Form AOc-4 in Producer Company?
Every Producer company is required to file its Financial Statements, along with Notice calling General Meeting, Directors Report, Auditors Report and Balance sheet to ROC in Form AOC-4 within 60 days from the date of Annual General Meeting of the Company.