Startups!
Check your Post Incorporation compliance as per Companies Act, 2013
Gone are the days you sat with a CA
or CS discussing in detail about your dream company and got it registered with
the Registrar of Companies and complied all registration formalities.
Technology has made our life so easy that we can get a company registered on
the tip of our finger at a very low cost avoiding all hassles of meeting your
consultant and spending time with him.
Is obtaining an Incorporation
certificate the end of incorporation of a company? Answer is NO. There are
still formalities which need to be completed post incorporation.
Here are the post incorporation
works for your easy reference;
1. Once the
company is registered, verify the basic company information to confirm
correctness of information such as name of the company, Authorised capital,
Registered office and address and other information.
2. Display the
following details at the registered office, on the name board, business letter
heads, bill heads and all official publications
a. Name of the
company
b. Registered
office address of the company
c. Corporate
identity number or CIN
d. Telephone
number, email ID
e. Website
address
3. In case of
failure to quote CIN number, penalty of Rs. 1,000 per day shall be imposed on
the defaulting company and on every officer in default for every day during
which such default continues up to a maximum limit of Rs. 1, 00,000.
4. Director’s
name & DIN (Director Identification Number) has to be mentioned with their
signature on all the documents to be signed in the capacity of director.
5. In case of
failure to quote DIN, Company and every officer of the company who is in
default or such other person shall be punishable with fine which may extend to
Rs. 10,000/- and where the contravention is continuing one, with a further fine
which may extend to Rs. 1,000/- for every day after the first during which the
contravention continues.
6. Conducting
first Board Meeting within 30 days of incorporation.
7. Passing
resolutions at the first board meeting to open a bank account, appointment of
managing director, appointment of first auditor, fixing the financial year,
appointment of chairman, appointment of additional directors, adoption of pre
incorporation contracts, reimbursement of pre incorporation expenses to the
promoters and other major decisions pertaining to the company.
8. Prepare
minutes of the first board meeting.
9. Subscribing
share capital to bank account and Issue share certificate within two months of
incorporation of the company.
10. After issue of Share Certificate, Company should pay
stamp duty on issue of share certificate as per Stamp Act of the State.
11. Preparation of Register of Members and register of
Directors.
12. Conduct Annual General meeting within the prescribed
time for adopting the audited financial statements, appointment of auditors etc.
13. File form ADT-1 for appointment of auditor with ROC.
14. File the audited financial statements, audit report
and annual report before due date with the Registrar of Companies.
Non-compliance to this provision will attract additional fee in addition to the
normal fee that are charged while filing the e-Form.
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