Should we register our FPO as a Producer Company or a cooperative society?

For a new FPO, a Producer Company under the Companies Act is usually the better choice today, and it is also what the 10,000 FPO scheme is built around. Reasons: it keeps the one member one vote spirit of a cooperative but runs with the professional discipline of a company (board, audit, ROC filing), it faces less day to day interference from the state cooperative department, members get limited liability, and it is easier to raise institutional credit and grants. A cooperative society is governed by the state cooperative act, which varies by state and often brings more government control and slower decisions. The main trade off is that a Producer Company has stricter annual compliance (audited accounts, ROC returns) so you need someone to keep the books clean. If your group can manage that discipline, go with the Producer Company. Check the latest scheme eligibility on the SFAC/NABARD portal before deciding.