What to do After incorporation of a private Limited Company?

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What to do After incorporation of a private Limited Company?

Here are some of the steps which promoter should take after forming a Private Limited Company 
1. Conduct board meeting within 30 days of incorporation (Sec 173(1))
Important items of business for the agenda of 1st board meeting are:
* Appoint the Chairman of the Meeting
* Take note of certificate of incorporation, MoA, AoA and take note of 1st directors
* Record the Notices of disclosure of interest given by the first Directors
* Appointment of 1st auditor (Sec 139(6))
* Authorisation to open bank accounts of the company
* Approve and ratify preliminary expenses and preliminary agreements
* Approve the appointment of Key Managerial Personnel, if applicable, 
and other senior officers
* Authorize the issue of Share Certificates to the Subscribers of Memorandum.
Note: (This may or may not be agenda for first board meeting because share certificates have to be issued within 2 month from the date of incorporation. Based on the circumstances this agenda can be taken up in next board meeting)
* Take note of situation of the Registered Office of the company and ratify the registered document of title of premises of the registered office in the name of the company or a Notarised copy of lease / rent agreement in the name of the company
2. Filing Verification of Registered Office (INC-22) within 30 days of incorporation if proof of reg office is not filed in SPICE form (Sec 12(2))
3. Paint or affix its name, and the address of its registered office, and keep the same painted or affixed, on the outside of every office or place in which its business is carried on, in a conspicuous position, in legible letters, and if the characters employed therefor are not those of the language or of one of the languages in general use in that locality, also in the characters of that language or of one of those languages
4. Get its name, address of its registered office and the CIN along with telephone number, 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;
5. Take other registrations like PT, PF, ESI, GST etc., if applicable
6. Issue share certificate to subscriber to MoA within 2 months from the date of incorporation (Sec 56(4)(a))
Note: Before issuing share certificate ensure that subscribers have paid the money
7. File INC 22A regarding commencement of business within 180 days of the date of incorporation (Sec 10A)
Note: Ensure that share money has been transferred by the subscribers from their A/c to company’s bank A/c

4 COMMENTS

  1. Your content is easy to understand and good bro. Am a cma inter student as well, to update my knowledge am keep reading your blogs…

    Thanks to whole team of tax talk..

    Aswinkumar from Chennai

  2. Fantastic website you have here but I was curious if you knew of any community forums that cover the same topics talked about here? I’d really like to be a part of group where I can get comments from other experienced people that share the same interest. If you have any suggestions, please let me know. Bless you!

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