Board meeting requirement
This query is : Resolved
21 September 2025
If a private company (small) is incorporated on 28/11/2024. No. of Board Meeting required to be held upto 31/03/2025. for filing mgt7A the compliance to be done
21 September 2025
For a small private company incorporated on 28/11/2024, only one Board Meeting is required between its date of incorporation and 31/03/2025, in compliance with Section 173(5) of the Companies Act, 2013.
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21 September 2025
Board Meeting Requirements
A small company must hold at least one Board Meeting in each half of the calendar year, with a minimum gap of 90 days between two meetings.
As the company was incorporated on 28/11/2024, it is only required to hold one Board Meeting before 31/03/2025.
The first Board Meeting must be held within thirty days of incorporation, so by 28/12/2024.
No additional Board Meeting is needed in this period for compliance.
A small company must hold at least one Board Meeting in each half of the calendar year, with a minimum gap of 90 days between two meetings.
As the company was incorporated on 28/11/2024, it is only required to hold one Board Meeting before 31/03/2025.
The first Board Meeting must be held within thirty days of incorporation, so by 28/12/2024.
No additional Board Meeting is needed in this period for compliance.
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21 September 2025
MGT-7A is mandatory for small companies and OPCs for annual return filing.
The form must report on company particulars as of the close of the financial year, including details of meetings held (Board, members, committees).
The annual return (MGT-7A) must be filed within 60 days from the date of the Annual General Meeting (AGM) or the date by which the AGM should have been held.
Digital signature by a director and annexure of scanned documents are required for submission.
All details of the first Board Meeting and other company particulars for FY 2024-25 are to be recorded in the annual return using MGT-7A, ensuring full legal compliance.
The form must report on company particulars as of the close of the financial year, including details of meetings held (Board, members, committees).
The annual return (MGT-7A) must be filed within 60 days from the date of the Annual General Meeting (AGM) or the date by which the AGM should have been held.
Digital signature by a director and annexure of scanned documents are required for submission.
All details of the first Board Meeting and other company particulars for FY 2024-25 are to be recorded in the annual return using MGT-7A, ensuring full legal compliance.
21 September 2025
SIR PLEASE GUIDE ON ALL THE COMPLIANCES TO DO AFTER INCOPORATION OF A PRIVATE COMPANY IN A YEAR INCLUDING FORMS, BOARD MEETINGS, EGM, RESOLUTIONS ETC
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21 September 2025
After incorporating a private limited company in India, several key compliances must be completed in the first year—including the filing of statutory forms, holding required meetings, issuing resolutions, and maintaining registers. Failure to meet these obligations can attract penalties and legal setbacks.
21 September 2025
Mandatory Compliance Actions
PAN & TAN Activation: Ensure the company’s PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) are activated for tax and TDS compliance. These are typically allotted at incorporation.
Open Company Bank Account: Use the Certificate of Incorporation, PAN, MOA, AOA, and KYC documents to open a company bank account.
File INC-20A (Commencement of Business): Every company must file e-Form INC-20A within 180 days of incorporation declaring receipt of share subscription money. No business activity or borrowing is allowed before filing. Non-compliance leads to penalties of ₹50,000 for the company and ₹1,000/day for officers in default.
Board Meeting: Hold the first Board Meeting within 30 days of incorporation. Discuss appointment of directors, opening bank accounts, allocation of share certificates, and appointment of the first auditor within 30 days. Prepare and sign minutes of the meeting.
Statutory Registers: Maintain mandatory statutory registers at the registered office, such as Registers of Members (MGT-1), Directors/KMP, Charges (CHG-7), minutes books, and Books of Accounts from day one.
PAN & TAN Activation: Ensure the company’s PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) are activated for tax and TDS compliance. These are typically allotted at incorporation.
Open Company Bank Account: Use the Certificate of Incorporation, PAN, MOA, AOA, and KYC documents to open a company bank account.
File INC-20A (Commencement of Business): Every company must file e-Form INC-20A within 180 days of incorporation declaring receipt of share subscription money. No business activity or borrowing is allowed before filing. Non-compliance leads to penalties of ₹50,000 for the company and ₹1,000/day for officers in default.
Board Meeting: Hold the first Board Meeting within 30 days of incorporation. Discuss appointment of directors, opening bank accounts, allocation of share certificates, and appointment of the first auditor within 30 days. Prepare and sign minutes of the meeting.
Statutory Registers: Maintain mandatory statutory registers at the registered office, such as Registers of Members (MGT-1), Directors/KMP, Charges (CHG-7), minutes books, and Books of Accounts from day one.
21 September 2025
Annual & Periodic Meeting Requirements
Minimum Board Meetings: Hold at least 4 Board Meetings each year, with not more than 120 days between two meetings. Small companies and OPCs have relaxed requirements—at least one meeting in each half of the calendar year.
Annual General Meeting (AGM): The first AGM must be held within 9 months of the close of the first financial year; thereafter, within 6 months of the end of each financial year.
Extraordinary General Meeting (EGM): Can be called as required for special business matters.
Resolutions: Routine business and critical company decisions (appointment of auditor, approval of accounts, issue of shares, change in KMP, office address, borrowing, investments) must be made through Board/Shareholder Resolutions. Certain Board Resolutions can be passed through circulation with proper approval and documentation.
Minimum Board Meetings: Hold at least 4 Board Meetings each year, with not more than 120 days between two meetings. Small companies and OPCs have relaxed requirements—at least one meeting in each half of the calendar year.
Annual General Meeting (AGM): The first AGM must be held within 9 months of the close of the first financial year; thereafter, within 6 months of the end of each financial year.
Extraordinary General Meeting (EGM): Can be called as required for special business matters.
Resolutions: Routine business and critical company decisions (appointment of auditor, approval of accounts, issue of shares, change in KMP, office address, borrowing, investments) must be made through Board/Shareholder Resolutions. Certain Board Resolutions can be passed through circulation with proper approval and documentation.
21 September 2025
ROC and Regulatory Filings
DIR-3 KYC: KYC for all directors (Form DIR-3 KYC) to be filed annually by 30th September.
Filings for Auditor Appointment: Form ADT-1 must be filed within 15 days of auditor appointment in the first AGM.
Annual Return (Form MGT-7): File within 60 days of the AGM, listing members, shareholdings, and directorships for the year.
Financial Statements (Form AOC-4): File within 30 days of the AGM, including audit reports and board reports.
Income Tax Filings: Annual return by 31st October (for companies subject to audit).
DIR-3 KYC: KYC for all directors (Form DIR-3 KYC) to be filed annually by 30th September.
Filings for Auditor Appointment: Form ADT-1 must be filed within 15 days of auditor appointment in the first AGM.
Annual Return (Form MGT-7): File within 60 days of the AGM, listing members, shareholdings, and directorships for the year.
Financial Statements (Form AOC-4): File within 30 days of the AGM, including audit reports and board reports.
Income Tax Filings: Annual return by 31st October (for companies subject to audit).
21 September 2025
Routine Compliance and Recommendations
GST Registration: Mandatory if turnover exceeds ₹40 lakhs for goods or ₹20 lakhs for services, or as otherwise required.
Ensure Registered Address Display: Clearly display company name, CIN, registered address, and contact details at the registered office and on all company correspondence.
Obtain other required licenses: Depending on business activity and location.
Regular Maintenance: Minutes, statutory registers, and accounting records must always be up to date and available at the registered office.
GST Registration: Mandatory if turnover exceeds ₹40 lakhs for goods or ₹20 lakhs for services, or as otherwise required.
Ensure Registered Address Display: Clearly display company name, CIN, registered address, and contact details at the registered office and on all company correspondence.
Obtain other required licenses: Depending on business activity and location.
Regular Maintenance: Minutes, statutory registers, and accounting records must always be up to date and available at the registered office.
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21 September 2025
BOARD MEETING IS TO HELD BEFORE AGM FOR SIGING THE AUDIT REPORT AND AUTHORISING A PERSON FOR SIGNING THE FORMS
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21 September 2025
Yes, a board meeting before the AGM is essential for signing the audit report, approving annual documents, and authorizing persons to sign statutory forms, fulfilling legal requirements under the Companies Act, 2013.
Per the Companies Act, the financial statements and audit report must be approved by the Board before circulation to shareholders in the AGM.
Notice for the AGM, including financial statements, Director’s Report, and audit report, must be sent to stakeholders at least 21 days prior to the AGM date.
Per the Companies Act, the financial statements and audit report must be approved by the Board before circulation to shareholders in the AGM.
Notice for the AGM, including financial statements, Director’s Report, and audit report, must be sent to stakeholders at least 21 days prior to the AGM date.
21 September 2025
Board Meeting Before AGM
The Board of Directors convenes a meeting to approve the audited financial statements, adopt the Director's Report, and ensure the statutory audit is completed.
The auditor submits the signed audit report to the Board, usually ahead of the AGM, so it can be shared with shareholders along with the notice and other documents.
Authorisation for Signing Forms
A board resolution is required to authorise a director, company secretary, or another specified person for signing e-forms, reports, and legal documents on behalf of the company.
This authorization ensures legal compliance when filing documents with authorities like the MCA and is passed during the board meeting preceding the AGM.
The Board of Directors convenes a meeting to approve the audited financial statements, adopt the Director's Report, and ensure the statutory audit is completed.
The auditor submits the signed audit report to the Board, usually ahead of the AGM, so it can be shared with shareholders along with the notice and other documents.
Authorisation for Signing Forms
A board resolution is required to authorise a director, company secretary, or another specified person for signing e-forms, reports, and legal documents on behalf of the company.
This authorization ensures legal compliance when filing documents with authorities like the MCA and is passed during the board meeting preceding the AGM.
21 September 2025
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