Annual Compliances of a Producer Company

Annual compliances of a Producer Company include filing returns, conducting meetings, maintaining accounts, and statutory audit.
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Annual Compliances of a Producer Company

Agriculture is the backbone of the Indian economy. The sector employs more than 50% of India’s total workforce and contributes almost 17–18% of the country’s GDP. The company allows farmer cooperatives to function as a corporate entities under the Ministry of Corporations Act. 
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Basic Compliances of a Producer Company

S. No. Section & Rules Particular of Compliance Description
1. Receipt of MBP-1 184(1) FormMBP- 1 Every Director of the Company in the First Meeting of the Board of Directors in each Financial Year shall disclose his interest in other entities.
2. Receipt of DIR- 8 164(2)143(3)(g) Form DIR – 8 Every Director of the Company in each Financial Year will file with the Company disclosure of non-disqualification.
3. E- Forms Filing Requirements Annual Form 581ZA E-form:MGT-7 Annual Return: Every Company will file its Annual Return within 60 days of holding of Annual General Meeting. Annual Return will be for the period 1st April to 31st March.
4. 581ZA E-form: AOC-4 Financial Statement: Company is required to file its Balance Sheet along with the Statement of Profit and Loss Account, Cash flow statement, Attachment: Balance Sheet, Statement of Profit& Loss Account, Cash Flow Statement, Directors’ The report, Auditors’ Report, and Notice of AGM.
5. Annual Form Section 73Rule 16 E-formDPT-3 Return of Deposit: Company is required to file this form every year on or before 30th June in respect of return of Deposit and Particulars not considered as Deposit as on 31st March.
6. Event-Based Form Section 90 BEN-2 Disclosure of Significant Beneficial Owner: Company shall file BEN-2 within 30 days of receipt of BEN-1 from Shareholder
7. Annual Form Rule 12A DIR-3 KYC KYC of Directors: All the Directors of the company shall file this form on or before 30th September every year for all the directors of the Company.
8. Half Yearly Return Section 405 MSME-1 Delay in Payment to MSME Vendor: Company has to file this return half-yearly in respect of pending.
9. Circulation of Financial Statement 581ZA The company will send to the members of the Company approved Financial Statement. The auditor will be appointed for 5 (Five) years and form ADT-1 will be filed for a 5-year appointment within 15 days of the Annual General Meeting.