Home procedure for Equity Grant Scheme
procedure for Equity Grant Scheme
|It is a duly registered FPC under Part IX of Company’s Act, 1956
|It has raised equity from its Members as laid down in its Articles of Association
|The number of its individual shareholders is not lower than 50
|Its paid up equity does not exceed Rs. 30 lac.
|Minimum 33% of its shareholders are small marginal and landless tenant farmers.
|Maximum shareholding by any one member other than an institutional member is not more that 5% of total equity of the FPC.
|It has a duly elected Board of Directors (BoD) with a minimum of five members, with adequate representation from member farmers and minimum one woman member.
|It has a duly constituted Management Committee responsible for the business of the FPC.
|It has a business plan and budget for next 18 months that is based on a sustainable, revenue model as may be determined by the implementing Agency.
|The FPC has an Account with a “Bank”.
|Application on prescribed form duly signed by two Board Members/Authorised Representative of FPC on each page.
|category wise allotment pattern of shares of FPC and proposed computation of allotment of shares out of Equity Grant may be submitted on the lines of Annexure-I.
|Resolution of the FPC Board/Governing Council to seek Equity Grant, issue of shares to the shareholders against Equity Grant and transfer of shares (issued against Equity Grant) in case of exit of any shareholder from FPC may be submitted on the lines of Annexure -II.
|The Resolution will be ratified in the next AGM of the FPC may be submitted on the lines of Annexure -III.
|Resolution (No appointment letter required) for appointment of Chief Executive officer of Company
|Audited Financial Statements for last financial year.
|Photocopy of Bank Account Statement for last six months duly authenticated by the Branch Manager of the Bank.
|KYC documents of only those Representatives/Directors authorised by the Board of FPC for executing and signing documents with SFAC.
|Certificate of incorporation/commencement of business, Memorandum of Association/Articles of Association.
|Business plan for 18 months