- The company shall hold its first board meeting within 30 days of its incorporation.
- Appointment of statutory auditor – The first auditor of the company, (who is Chartered Accountant), other than a Government company, shall be appointed by the Board of Directors within 30 days from the date of registration of the company and in the case of failure of the Board to appoint such auditor, it shall inform the members of the company, who shall within 90 days at an extraordinary general meeting appoint such auditor and such auditor shall hold office till the conclusion of the first annual general meeting.
- Maintenance of statutory registers & records – A Private Limited Company has to maintain various statutory registers and records as required by the Company law such as –
- Register of shares, Register of Members,
- Register of Directors
- Incorporation documents of the company
- Resolutions of the meetings of the Board of Directors
- Minutes of the Board Meetings and Annual General Meeting.
Such records are to be kept at the registered office of the company and shall be open for inspection to its members during business hours.
- OTHER REGISTRATIONS
- Application for Shop Act license (as per Shop and Establishment Act-Within 30days- If there is an employee in office)
- Registration of GST( If applicable)
- Registration of Profession Tax ( Within 30 Days)Mandatory
- PF and ESI- ( If applicable)
- Trade License (Mandatory)
- ALLOTMENT OF THE SECURITIES
Every company needs to deliver the certificates of all securities allotted, transferred or transmitted within a period of two months (2 months) from the date of incorporation in the case of subscribers to the memorandum and the share certificates must be allotted.
- ANNUAL GENERAL MEETING
A company should hold its first AGM within a period of nine months from the date of closing of the first financial year of the company and in any other case, within a period of six months, from the date of closing of the financial year and not more than fifteen months shall elapse between the date of one annual general meeting of a company and that of the next.
- ANNUAL FILING
Private Limited Companies are required to file its Annual Accounts and Returns disclosing details of its shareholders, directors etc. to the Registrar of Companies every once a year.
The following forms are to be filed with the ROC:
- Form MGT-7 (Annual Return): Every Private Limited Company is required to file its Annual Return within 60 days of holding of Annual General Meeting. Annual Return will be for the period 1st April to 31st March.
- Form AOC-4 (Financial Statements): Every Private Limited Company is required to file its Balance Sheet along with the statement of Profit and Loss Account and Director Report in this form within 30 days of holding of Annual General Meeting.
- Opening of bank account – the money received from the subscriber on securities should be deposited in the company’s Bank account.