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.
If the company is incorporated without verifying the registered office, then it must verify the same within 30 days of its incorporation to the Registrar of Companies in Form No. INC-22.
First Board Meeting of Board of Directors
As per the provisions of Section 173(1) of the Companies Act, 2013 the company shall hold the first meeting of the Board of Directors within 30 days of its incorporation. The said Board Meeting is conducted to elect the Chairman, appoint first auditor, take on record the disclosure of interest received from directors and to take note of the other statutory requirements if any.
Appointment of First Auditor of the company
As per the provisions of Section 139(6) of the Companies Act, 2013, the Board of Directors shall appoint the first auditor within 30 days from the date of incorporation of the company. In case the Board fails to do the same, shall inform the members of the company, who shall within 90 days from the date of registration of the company, at an extraordinary general meeting appoint the first auditor.
Noting the Disclosure of Interest received from the Directors of the company
It is the responsibility of every Director of the company to disclose their interest to the company at the first meeting of Board of Directors held in each financial year/attended by him post appointment as Director of the company.
Memorandum and Articles, Statutory Registers of the company
The company shall maintain at its registered office of the company the printed copies of Memorandum and Articles of Association of the company. The company is also required to maintain the Statutory Registers such as Register of Members, Register of contracts and arrangements, Register of Directors, Key managerial Personnel and their shareholding etc. At the Registered office of the company or at a place as may be decided by the members.
Issue of Share Certificates
The company shall issue share certificates to the subscribers within 60 days from the date of incorporation of the company.
Opening of current Account
A Bank Account in the name of the company must be opened as early as possible post registration of the company, so that it can keep track of all the transactions accurately.
Commencement of Business
Post incorporation of the company, the directors shall make sure that Form INC-20 A -Declaration of Commencement of Business is filed with the Registrar of Companies within 180 days from the date of incorporation.
The company is also required to complete its registrations under other Acts as may be applicable.
Maintain Books of Accounts
The Company is also required to maintain Books of Accounts reflecting a true and fair view of the affairs of the company. The Books shall be maintained on accrual basis of accounting.