What is Annual General Meeting? An Annual General Meeting (AGM) is a meeting held by a company or organization at least once a year, in which members of the organization gather to discuss and vote on important issues related to the company’s operations and management. The AGM is usually attended by shareholders, board members, and other interested parties. At AGM, the company’s management presents financial reports, updates shareholders on the company’s performance, and answers questions from shareholders....
MCA Industrial Activity Codes and Business Profession Codes for Company and LLP Registration
MCA has been bringing in various reforms for registering a new company or LLP in India effortlessly and with less paperwork. Through these reforms, MCA has brought in Spice+ framework for company registration and FiLLip framework for LLP registration, which has made the incorporation process easy. Under these frameworks, the applicant is required to confirm the Industrial Activity code and the Business or Procession code under which the new entity will be incorporated....
Request Letter to Bank for Opening Term Deposit in the name of the Company
Background - Generally, companies park their surplus funds or the funds that are certainly not required urgently with the Banks by opening a Term Deposit Account. These term deposits may be opened for a shorter or longer durations depending upon the funds requirements. Below is the format of request letter to be given to the Banks for opening a Term Deposit Account. Request Letter to Bank for Opening Term Deposit...
Request Letter to Bank for closure of Current Account
Date: ____________ To, The Manager, _____________ (bank name) _____________ (branch address) Sub: Closure of Current Account No.______________ of the Company Dear Sir, The below mentioned current account(s) opened in the name of the company “__________________________” (name of the company) needs to be closed on priority. The details of the Current Account(s) are as under: Kindly remove freeze/ dormancy if any and close the abovementioned Current Account(s) at the earliest and any money lying in the said accounts be returned to the company by way of issuance of demand draft....
Board Resolution for addition of an authorised signatory for Bank Account transactions
CERTIFIED TRUE COPY OF THE RESOLUTION PASSED AT THE MEETING OF THE BOARD OF DIRECTORS OF _________________________________________ HELD ON _____DAY _____(month) _____ (year) AT THE REGISTERED OFFICE OF THE COMPANY AT ____________________________ RESOLVED THAT in addition to the existing authorised signatories for the operation of the Current Account of the Company “____________________________________________________" ( name of the company) number _____________________ (account number), opened and maintained with ___________ (name of the Bank and Branch), the name of ______________________ (name and designation of authorised signatory) be and is hereby added as an authorized signatory for the operation of the said Current Account of the Company....
Form AOC-1 Format
FORM AOC - 1 (pursuant to First proviso to sub-section (3) of Section 129 read with Rule 5 of Companies (Accounts) Rules, 2014) Statement containing salient features of financial statements of subsidiaries/associate companies/joint ventures I. Part A - Subsidiaries Notes: The following information shall be furnished at the end of the statement: Names of Subsidiary Companies which are yet to commence operations Names of Subsidiary Companies which have been liquidated or sold during the year II Part B - Associates and Joint Venture...
Form AOC-2 Format
Form No. AOC - 2 (pursuant to clause (h) of sub-section (3) of Section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014) Disclosure of particulars of contracts/arrangements entered into by the Company with related parties referred to in sub-section (1) of Section 188 of the Companies Act, 2013 including certain arm’s length transactions under proviso thereto. Details of Contracts or arrangements or transactions not at arm’s length basis: Details of contracts or arrangements or transactions at arm’s length basis: *Form shall be signed by the people who have signed the Board’s Report....
Post Incorporation Compliance for a Private Limited Company
Post Incorporation of a private limited company, the company is required to complete certain compliance within stipulated time frame. Below is list of compliance that a private limited company should complete post registration - Registered Office Address of the Company Every company should mandatory have a office called “Registered Office” of the Company at the time of Incorporation of the company or within 30 days from the date of incorporation. Now the company can be registered without declaring the Registered Office of the company at the time of incorporation....
How to determine what is the due date for holding the Annual General Meeting of a company
Annual General Meeting is a very important event for every company wherein Directors present company’s financial results of the past year, the performance of the company, company’s future prospects and business plan to the members of the company. The Board of Directors of the company act as an agent of the company and members being owners of the company, Board is answerable to them. Therefore Annual General Meeting is a very big event for every company....
Detailed Procedure for Increase in Authorised Share Capital of a Company
Share Capital is an amount invested by the promoters while incorporating a company. As business expands, more capital is required. The capital limit set up by the promoters as and there it becomes necessary for the company to increase its authorised capital limits. What is Authorised share capital of a company? Authorised share capital is the maximum limit upto which a company can issue shares to the shareholders. This limit is mentioned in the Memorandum of Association of the company under “Capital Clause”....