Next Formalities after floating the company

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Aisha

Aisha (Querist)
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26 March 2008 What are the next formality after floating a company.. i mean the next instant ones???

MANAS ROUT

MANAS ROUT (Expert)
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26 March 2008 IF IT IS A PUBLIC LTD COMPANY YOU HAVE TO GET THE COMMENCEMENT OF BUSINESS CERTIFICATE AND THEN YOU HAVE TO STATRT THE BUSINESS.
YOU HAVE TO TRANSACT ALL THE TRANSACTION THROUGH YOUR BANK ACCOUNT,
YOU HAVE TO APPLY FOR PAN.TAN,TIN STAX REG NO OR EXCISE REGD NO AS REQUIRED AND SO ON ...........

Aisha

Aisha (Querist)
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26 March 2008 no it is a pvt ltd company ... and i have applied for the PAN.. and i can open the bank acc only after i get the PAN ... wat bout appointing auditors etc??

R.V.RAO

R.V.RAO (Expert)
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10 April 2008 AFTER FLOATING A COMPANY IN THE FIRST MEETING OF BOARD OF DIRECTORS ,THE FOLLOWING ISSUES ARE DECIDED AND ACTED UPON.
1.MAKING COMMON SEAL
2.APPLYING FOR PAN
3.OPEN BANK ACCOUNT
4.DELEGATE POWERS TO A COMMITTEE OF DIECTORS OR EXECUTIVES TO TAKE CERTAIN ACTIONS FOR THE COMPANY'S BUSINESS LIKE - -APPLYING FOR LICENCES,
-ACQUIRE LANDS,APPLY FOR VAT,CENTRAL EXCISE LICENCES,SERVICE TAX,TAN,TIN
-ACQUIRE OWN OR LEASED PREMISES,FACTORY LICENCE
-APPLY FOR IEC CODE,
-APPOINT AUDITORS
-DELEGATION OF POWERS FOR SPENDING MONEY FOR COMPANY,'S BUSINESS UP TO CERTAIN LIMITS-MAKING PURCHASES OF CAPITAL OR REVENUE NATURE
-OPENING OF BRANCHES AND -RECRUITMENT OF STAFF AT ALL LEVELS
-APPLYING FOR BRANCH LICENCES
6. APPROVAL OF ANNUAL BUSINESS PLANS,APPROVAL OF BUDGET-FIN/OPERATIONS
LATER IN A SECOND MEETING AND SUBSEQUENT MEETINGS OF BOARD,THE DEVELOPMENTS MAY BE REVIEWED AND FURTHER NECESSARY STEPS TO BE TAKEN.
R.V.RAO

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