Annual Compliances for a Producer Company

Introduction

A Producer Company is a special category of company under the Companies Act, 2013, primarily aimed at benefiting primary producers and farmers. While it enjoys certain exemptions from strict corporate governance norms, it must comply with various statutory requirements annually. These compliances ensure transparency, accountability, and smooth operations.

This document outlines the mandatory annual compliances for a Producer Company, categorized quarter-wise for better clarity.

Quarter-wise Annual Compliance Calendar

Quarter I (April to June)

S. No.	Forms & Sections	Particulars of Compliance	Due Date / Frequency
1	MBP-1 (Sec 184(1))	Directors to disclose their interest in other entities in the first board meeting of the financial year.	First Board Meeting / Whenever there is a change
2	DIR-8 (Sec 164(2), 143(3)(g))	Directors to submit a declaration of non-disqualification.	Annually
3	MSME-1 (Sec 405)	Half-yearly return for outstanding payments to MSME vendors beyond 45 days.	- April-September: 31st October - October-March: 30th April
4	DPT-3 (Sec 73, Rule 16)	Return of Deposits and particulars of amounts not considered deposits.	30th June

Quarter II (July to September)

S. No.	Forms & Sections	Particulars of Compliance	Due Date / Frequency
5	Financial Statements(Sec 134)	Preparation and approval of financial statements.	Before AGM
6	Directors’ Report (Sec 134)	Directors' Report preparation with required disclosures and signing.	Before AGM
7	AGM (Sec 96)	Holding of Annual General Meeting (AGM).	Within 6 months from financial year-end
8	AGM Notice (Sec 101 & SS-II)	Notice of AGM to be sent with 14 clear days' notice.	Before AGM
9	AGM Circulation (Sec 101 & SS)	Circulation of AGM notice to Directors, Members, Auditors, and Debenture Trustees (if any).	Before AGM
10	Financial Reports Circulation (Sec 136)	Circulation of Financial Statements, Directors’ Report, and Auditors’ Report at least 14 days before AGM.	Before AGM
11	DIR-3 KYC (Rule 12A)	KYC verification of all Directors.	30th September

Quarter III (October to December)

S. No.	Forms & Sections	Particulars of Compliance	Due Date / Frequency
12	AOC-4(Sec 137)	Filing of Financial Statements with the Ministry of Corporate Affairs (MCA).	Within 60 days of AGM
13	MGT-7(Sec 92)	Filing of Annual Return.	Within 60 days of AGM
14	MGT-8(Sec 92)	Certification of Annual Return by a Company Secretary in Practice if paid-up share capital is ?10 Cr or turnover is ?50 Cr or more.	With MGT-7

Quarter IV (January to March)

S. No.	Forms & Sections	Particulars of Compliance	Due Date / Frequency
15	Board Meetings (Sec 173 & SS-I)	A minimum of four board meetings must be held annually, ensuring a gap of not more than 120 days between two meetings.	Throughout the year
16	Statutory Registers(Sec 88 & Others)	Maintenance of statutory registers including: - Register of Directors - Register of Shareholding - Register of Members - Register of Transfers - Register of Related Party Transactions, etc.	Ongoing
17	ADT-1 (Sec 139)	Appointment of Auditor for 5 years and filing of ADT-1 within 15 days of AGM.	Within 15 days of AGM

Event-Based Compliances

Apart from the above mandatory annual filings, a Producer Company must also comply with various event-based filingsdepending on corporate activities. Some common event-based filings include:

Change in Directors – DIR-12
Increase in Capital – SH-7
Allotment of Shares – PAS-3
Creation or Modification of Charge – CHG-1
Change in Registered Office – INC-22
Resolutions and Agreements – MGT-14

Conclusion

Ensuring compliance with statutory requirements is crucial for a Producer Company to avoid penalties and legal issues. The above compliance framework provides a structured approach to meet regulatory obligations timely and effectively.

Companies must stay updated with regulatory changes and ensure accurate and timely filings. Seeking professional guidance from a Company Secretary or Legal Advisor can further help in smooth compliance management.

"Unlock the Potential of Legal Expertise with LegalMantra.net - Your Trusted Legal Consultancy Partner”

DISCLAIMER: THE CONTENTS OF THIS DOCUMENT ARE PROVIDED BASED ON CURRENT PROVISIONS AND INFORMATION AVAILABLE. WHILE EVERY EFFORT HAS BEEN MADE TO ENSURE ACCURACY AND RELIABILITY, NO RESPONSIBILITY IS ASSUMED FOR ANY ERRORS OR OMISSIONS. USERS ARE ENCOURAGED TO REFER TO APPLICABLE LAWS AND REGULATIONS. THIS INFORMATION IS NOT TO BE CONSTRUED AS LEGAL ADVICE, AND NO LIABILITY IS ACCEPTED FOR ANY CONSEQUENCES ARISING FROM ITS USE.

Article Compiled by:-

~Neel Lakhtariya

(LegalMantra.net Team)