Meeting compliance of a private limited company

All about Private Limited Company

Definition of Private Company As per Section 2 (68) of Companies Act, 2013 “private company” means a company having a minimum paid-up share capital  (of one lakh rupees or such higher paid-up share capital*) as may be prescribed and which by its articles--

(i) restricts the right to transfer its shares;

(ii) except in case of One Person Company, limits the number of its members to two hundred:

Provided that where two or more persons hold one or more shares in a company jointly, they shall, for the purposes of this clause, be treated as a single member:

Provided further that—

(A) persons who are in the employment of the company; and

(B) persons who, having been formerly in the employment of the company, were members of the company while in that employment and have continued to be members after the employment ceased,shall not be included in the number of members; and

(iii) prohibits any invitation to the public to subscribe for any securities of the company;

Note:  *Words 'of one lakh rupees or such higher paid-up share capital’ omitted by the Companies (Amendment) Act, 2015, w.e.f. 29.05.2015.

BUSINESS TO BE TRANSACTED AT THE MEETING

 First Board Meeting

  In case of newly incorporated company (within 30 days of incorporation) 
  1. Certificate of Incorporation of the Company
  2. Constitution of the Board 
  3. Financial year of the Company 
  4. Adoption of draft share certificate 
  5. Registered office of the Company 
  6. Application for all statutory licenses from various regulatory authorities on behalf of the Company 
  7. Appointment of statutory auditors (up to 1st AGM) 
  8. Opening of bank account 
  9. Maintenance of statutory registers 
  10. Signing authority for filing of e-forms and other documents with the Ministry of Corporate Affairs and other authorities 
  11. Taking note of disclosure of interest under section 184 (1) of the Companies Act, 2013 received from all the directors of the Company (In Form MBP-1) 
  12. Taking note of certificate under section 164 (2) of the Companies Act, 2013 received from all the directors of the Company                              (Intimation by Director - In Form DIR-8) 
  13. Any other business
This blog is authored by Company Secretary Ronak Gupta. He is author of many blogs and runs many websites and youtube channels. His work is dedicated to corporate laws, legal, secretarial, professional services and also in strategy formulations for corporates. Mail him at: csronakgupta23@gmail.com or call at :9910226715

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