Mandatory Post Incorporation Compliances of a Private Limited Company
Amal Jose P
GHC Growth Lab | Mithra Inspires | CS Executive | Startup Enthusiast | Branding & Marketing
The post incorporation compliances of a private limited company are divided into three parts first is mandatory, miscellaneous and event base compliance.?
Here the details of these :
?Mandatory Compliance:?
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?1. Maintain of Registered Office of the company :?
?As per section 12 (1) A company shall within 30 days of its incorporation and at all times thereafter have a registered office capable of receiving and acknowledging all the communications and notices as may be addressed to it.
2. Preparation of Letter head:?
As per section 12 the company get its name, address of its registered office and the Corporate Identity Number along with telephone number, fax number, if any, e-mail and website addresses, if any, printed in all its business letters, billheads, letter papers and in all its notices and other official publications;?
3. Holding of First board Meeting:?
As per section 173(1) every company shall hold the first meeting of the Board of directors within 30 days of the date of its incorporation. Basically the agenda of first board meeting is as follows:?
1. Appointment of first auditor?
2. Opening of the Bank Account
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3. Approval of draft share certificate
4.?4. MBP-1 for the First Director
5. Fixing the financial year?
6. Maintenance of statutory registers
4. Appointment of First Auditor of the company u/s 139 –?
The first auditor of the company shall be appointed by the board of directors within 30 days from the date of registration of the company.
5. Issue of share certificate:
as per section 56(4) (a) every company within two months from the date of incorporation, issue a share certificate to the subscriber of the Memorandum.
?6. Declaration of Commencement of Business:
?Every Company is required to file e form INC-20A to the ROC within 180 days from the date of incorporation the receipt of subscription money. Due to not filling of this form company can’t start its business, can’t take loan and not make any agreements.?
7. Payment of stamp duty on share certificates:?
As per Indian stamp act, 1899 the company shall pay the stamp duty within 30 days after issue of share certificate.