Our Legal
In India, it is observed that the activities in the cooperative sector are so useful and result oriented. In order to mend the defects in this sector, a new part was added in the COMPANIES ACT 1956 as part IX A. It was formulated and submitted by the most famous financial consultant in India Mr. Y.K. ALAG in 2002 according to the suggestions given by the committee of economists.

The cooperative sector and the people who are producers in agriculture and non – agriculture have been bestowed a special power and opportunity to begin the” PRODUCER COMPANIES” by the act in 2002. These producer companies are working solely on the laws depicted in companies act 1956 namely part IX A section 581A to 581 ZT. And these producer companies are quite different from other private or public limited companies in India.

A new explosive way is opened by introducing this act especially in the realm of agriculture and cooperative zone in India. The development of agriculture land, Hi-tech mode of cultivation the production of hybrid seeds, new way of irrigation, a new method of harvest once in a year and so many other benefits are made possible through this producer company.

The cooperative sector and also producer organizations can fulfill all the objects mentioned here by forming the producer companies. And as we know cooperative sector is confined in a particular area (panchayath, municipality, corporation and state.) but by the formation of producer companies the area of the activities is spread in all India. There are no limits in number to start the branches all over India to promote and develop the business.

The Agro farm India Producer Company is working according to the laws depicted in companies act 1956 part IXA section 581A TO 581 ZT. As afore said, this part IXA was included in 2002 in companies act 1956.

The formation of Agro Farm India producer company Ltd is with a definite purpose. The chief aim of the company is the uplifting of the down trodden people among farmers, and all unorganized people in all clusters and classes. We hope we could achieve these aims through this company. And it is note worthy that the profit accrued by the company will be distributed among members of the company only.
 
The objects of the company are given below:-
  • To carry on the production, procurement, storage, processing, packing, distribution, marketing, selling and   trading of all agricultural, non agricultural, horticultural, vegetables, medicinal, spices crops, poultry, fishery and fish farm cultivation, tea and coffee cultivation, coconut and allied products, heritage, apiculture, sericulture, lac culture their processed products and other allied products, seeds fertilizers, pesticides, farm machineries and related extension & consultancy services for ultimate benefits to the members of the Company.
  • To  undertake organic production program, processing and certification, export and trade business of all agriculture, horticulture, vegetable crops and all service in all forms for the benefit of the members .
  • To render technical services, consultancy services training, research and development and all other activities for the welfare and promotion of the interests of its members.
  • To promote the techniques of mutuality and mutual assistance, including thrift and savings, RD,FD,MIS, among member and collaboration & linkage with similar organizations.
  • To create a saving mentality in members.
  • To give financial help to the members according to the rules and regulations of the company.
  • The benefits of the company to the members are restricted strictly according to the value of share. The value of each share is Rs. 10/- (Rupees ten only) Apart from this, the Agro Farm India producer company has other ambitions to accomplish a higher level of social, human and mutual assistance principles as under:-
  • To give quality goods to the members at the Government fixed standard prices by producing all kind of agricultural and non agricultural products through all the modern and scientific projects or methods.
  • To facilitate homes to the members in a less price.

So we request you to participate in this enterprise, which always promote and encourage the organic agriculture, farming, farm houses, cooperating with other enterprises in India and aboard.

Chairman
Agro Farm India
Producer Company Ltd.
 
 
 
 
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