{"id":2424,"date":"2021-02-18T07:21:09","date_gmt":"2021-02-18T07:21:09","guid":{"rendered":"https:\/\/swaritadvisors.com\/blog\/?p=2424"},"modified":"2021-02-18T07:23:26","modified_gmt":"2021-02-18T07:23:26","slug":"implementation-date-for-producer-company-provisions-notified-by-mca","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/blog\/implementation-date-for-producer-company-provisions-notified-by-mca\/","title":{"rendered":"Implementation Date for Producer Company Provisions Notified by MCA"},"content":{"rendered":"\n<p class=\"has-drop-cap\">The Ministry of Corporate Affairs or MCA by way of a\nNotification has declared that the implementation of producer company provisions,\nmentioned under Chapter XXIA. The same was inserted by way of the Companies (Amendment)\nAct 2020, and came into effect from 11.02.2021.<\/p>\n\n\n\n<p>In this blog, we will discuss about the\nimplementation of Producer Company provisions by the <a href=\"http:\/\/www.mca.gov.in\/\">Ministry of Corporate Affairs<\/a>.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a62c366a54\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a62c366a54\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/blog\/implementation-date-for-producer-company-provisions-notified-by-mca\/#Concept_of_Producer_Company\" title=\"Concept of Producer Company\">Concept of Producer Company<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/blog\/implementation-date-for-producer-company-provisions-notified-by-mca\/#What_is_the_Implementation_Date_for_Producer_Company_Provisions\" title=\"What is the Implementation Date for Producer Company Provisions?\">What is the Implementation Date for Producer Company Provisions?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/blog\/implementation-date-for-producer-company-provisions-notified-by-mca\/#Section_66\" title=\"Section 66\">Section 66<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/blog\/implementation-date-for-producer-company-provisions-notified-by-mca\/#Section_52\" title=\"Section 52\">Section 52<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/blog\/implementation-date-for-producer-company-provisions-notified-by-mca\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/blog\/implementation-date-for-producer-company-provisions-notified-by-mca\/#Official_MCA_Notification_on_Implementation_Date_for_Producer_Company\" title=\"Official MCA Notification on Implementation Date for Producer Company\">Official MCA Notification on Implementation Date for Producer Company<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Concept_of_Producer_Company\"><\/span>Concept of Producer Company<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The term \u201cProducer Company\u201d signifies a body corporate which\ndeals with the activities and objectives as specified under section 581B and\nhas obtained <strong><a href=\"https:\/\/swaritadvisors.com\/producer-company-registration\" class=\"text-primary\">Producer\nCompany Registration<\/a><\/strong> under the provisions of the Companies Act 1956.<\/p>\n\n\n\n<p>Further, it\nshall be considerate to take into consideration that only a primary producer is\nallowed to start a Producer Company in India. Also, the company must use\n\u201cProducer Company Limited\u201d at the end of its name as suffix.<\/p>\n\n\n\n<p>Only a <strong><a href=\"https:\/\/swaritadvisors.com\/private-limited-company-registration\" class=\"text-primary\">Private Limited Company<\/a><\/strong> can be incorporated as a Producer Company in India. Further, a minimum of 10 individuals or 2 organisations or a combination of both are eligible to start a Producer Company in India. Lastly, the provisions concerning Producer Companies are specified under part IXA.<\/p>\n\n\n\n<p><strong>Also, Read:<\/strong> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/learning\/benefits-of-farmer-producer-company-in-india\/\">Benefits of Farmer Producer Company in India<\/a><\/mark>\n<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"What_is_the_Implementation_Date_for_Producer_Company_Provisions\"><\/span>What is the Implementation Date for Producer Company Provisions?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>MCA had notified\n11.02.2021 as the Implementation Date for Producer Company Provisions as\nfollows:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Section_66\"><\/span>Section 66<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Section 66 of\nthe Companies Act 2020 deals with the amendments made in section 465 of the\nCompanies Act and in concerned with the Repeal of Certain Enactments and\nSavings.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Section_52\"><\/span>Section 52<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Section 52 of\nthe Companies (Amendment) Act 2020 inserts chapter XXIA in the Companies Act\n2013 and relates to Producer Companies.&nbsp; <\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In a nutshell,\nwe have discussed about the concept and the implementation date for producer\ncompany provisions. Further, the same has been notified by MCA through a\nNotification.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Official_MCA_Notification_on_Implementation_Date_for_Producer_Company\"><\/span>Official MCA Notification on Implementation Date for Producer Company<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<a href=\"https:\/\/swaritadvisors.com\/blog\/wp-content\/uploads\/2021\/02\/MCA-Notification-on-Implementation-Date-for-Producer-Company.pdf\" class=\"pdfemb-viewer\" style=\"\" data-width=\"max\" data-height=\"max\"  data-toolbar=\"bottom\" data-toolbar-fixed=\"off\">MCA-Notification-on-Implementation-Date-for-Producer-Company<br\/><\/a>\n<p class=\"wp-block-pdfemb-pdf-embedder-viewer\"><\/p>\n\n\n\n<p><strong>Also, Read:<\/strong> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/blog\/producer-companies-rules-2021-notified-by-mca\/\">Producer Companies Rules 2021<\/a><\/mark>\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Ministry of Corporate Affairs or MCA by way of a Notification has declared that the implementation of producer company provisions, mentioned under Chapter XXIA. The same was inserted by way of the Companies (Amendment) Act 2020, and came into effect from 11.02.2021. In this blog, we will discuss about the implementation of Producer Company [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":2426,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[6,50,11],"tags":[400],"acf":[],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/2424"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/comments?post=2424"}],"version-history":[{"count":5,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/2424\/revisions"}],"predecessor-version":[{"id":2431,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/posts\/2424\/revisions\/2431"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media\/2426"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/media?parent=2424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/categories?post=2424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/blog\/wp-json\/wp\/v2\/tags?post=2424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}