Equity Grant Scheme extends support to the equity base of Farmer Producer Companies (FPCs) by providing matching equity grants subject to a maximum of Rs. 15.00 lakh per FPC in two tranches within a period of 3 Years and to address nascent and emerging FPCs which have paid-up capital not exceeding Rs. 30.00 lakh with a view to the under noted primary objectives
Farmer Producing Company Eligibility
S.No | Eligibility |
---|---|
1 | It is a duly registered FPC under Part IX of the Company’s Act, 1956 |
2 | It has raised equity from its Members as laid down in its Articles of Association |
3 | The number of its individual shareholders is not lower than 50 |
4 | Its paid-up equity does not exceed Rs. 30 lac. |
5 | Minimum 33% of its shareholders are small marginal and landless tenant farmers. |
6 | Maximum shareholding by any one member other than an institutional member is not more that 5% of total equity of the FPC. |
7 | It has a duly elected Board of Directors (BoD) with a minimum of five members, with adequate representation from member farmers, and a minimum of one woman member. |
8 | It has a duly constituted Management Committee responsible for the business of the FPC. |
9 | It has a business plan and budget for the next 18 months that are based on a sustainable, revenue model as may be determined by the implementing Agency. |
10 | The FPC has an Account with a “Bank”. |
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