POST COMPLIANCES OF A PRIVATE LIMITED COMPANY AFTER INCORPORATION
TANUJ CHANDRA SAXENAA | Sep 16, 2021 |
POST COMPLIANCES OF A PRIVATE LIMITED COMPANY AFTER INCORPORATION
Compliances that companies needs to follow immediately after their Incorporation
A meeting of board of directors of the company should be held within 30 days of its incorporation. For this, a 7 days prior notice shall be given to the board of directors specifying the date, time, venue and agenda matters of the meeting. The agenda of the meeting shall be as specified in Secretarial Standards-I.
A bank account should be opened in the name of the company. With the new incorporation process, the name of the bank with which the company wants to open its account is mentioned in the application stage itself. A person from the concerned bank will contact you through your registered email Id, immediately after the incorporation of the company to complete the account opening formalities.
A company after its incorporation should appoint its first statutory auditor within 30 days of its incorporation in the first meeting of board of directors of the company. Prior to the appointment, a written consent and a certificate of eligibility to such appointment shall be procured from the first statutory auditor.
The subscriber to the shares of the company will have to infuse the subscription amount in the bank account opened in the name of the company. Once the subscription amount is credited, the company shall allot the shares to the shareholders of the company.
After the allotment of shares, the company shall issue the share certificates in the name of the shareholders within 60 days of incorporation of the company. The share certificates shall be adequately stamped and signed. The stamp duty to be paid on share certificates will depend on the state in which the company is incorporated.
A company having a share capital must file a declaration for commencement of business within 180 days of its incorporation in e-Form INC-20A. A company is restricted from commencing any business activities unless it has filed such declaration with the Registrar of Companies.
Though this something which the directors are supposed to provide, but the company must ensure to obtain it from the directors. A director before his appointment must declare in writing that he is not disqualified to act as a director of a company. The declaration shall be made in Form DIR-8, as specified under the Companies Act, 2013.
Again this is something which the directors of the company are supposed to provide, but the company must ensure to procure it from the directors. A director must disclose his concerns or interest in any other entity at the first board meeting in which he participates at the director. The disclosure shall be made in Form MBP-1 as specified under the Companies Act, 2013.
A register of members, register of debentures holder/ securities holders, register of directors and key managerial personnel, register of charges etc., collectively called as a statutory register of the company should be executed and kept in records of the company. It shall be maintained in the format specified under the Companies Act 2013.
A company after its incorporation should have its name and address of its registered office affixed or painted outside its office in legible letters and in a visible location.
Further, a company should get its name, address of registered office, corporate identity number along with telephone number, fax number, if any, email-id and website address, if any, printed in all its business letters, bill heads, letter papers and all its notices and other official documents.
Where the company has a website, all the above-mentioned information along with the name of the person who may be contacted in case of any queries or grievances should be displayed on the home page of the website.
In case of any Doubt regarding Membership you can mail us at [email protected]
Join Studycafe's WhatsApp Group or Telegram Channel for Latest Updates on Government Job, Sarkari Naukri, Private Jobs, Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!"
