Company incorporated. help on post incorporation formalities

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Software Engineer
44 Points Joined July 2013

I have incorporated a Private Limited Company.

I want to know the procedures to be followed post incorporation.

I have already applied for PAN.

  1. The 2 directors will be the only persons of the company. No other employees will be there in the company.
    Do I still have to apply for TIN?
  2. When, where and how do I convene the first board meeting?
    What is the time frame within which I need to hold the first board meeting?
  3. I do not have a dedicated CA or CS for the company. I am planning to go to any available CA for filing of returns at that time. What should I do for this? How do I specify this in the minutes of meeting of 1st board meeting?
  4. Do I have to issue share certificate? If so, issuance of share certificates has any specific format or approval from any Government authority or board?

Please help.

Regards,
SRIRAM NATARAJAN

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On 05 September 2013 at 11:20 Report
Replies (4)
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Article Assistant
193 Points Joined June 2013

Refer the below link: It will be helpful to you

https://nagasaica.blogspot.in/2013/08/about-private-limited-company.html

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On 05 September 2013 at 17:24
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Company Secretary
74342 Points Joined March 2009

Hi

 

You should hold the First Board meeting  for passing necessary agenda items in first board meeting.

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On 07 September 2013 at 16:54
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Company Secretary
74342 Points Joined March 2009

 

 

AGENDA FOR THE FIRST BOARD MEETING OF THE BOARD OF DIRECTORS OF [NAME OF THE COMPANY] HELD ON [DATE] AT [TIME] AT [ADDRESS OF REGISTERED OFFICE], THE REGISTERED OFFICE OF THE COMPANY

 

S. NO. Particulars
1.        To take note of Certificate of Incorporation.
2.        To take note of appointment of first directors.
3.        To take note of the disclosure of interest under section 299 and certificate under section 274 (1)(g) of the companies act, 1956.
4.        To take note of the registered office of the Company.
5.        To appoint first auditors of the Company.
6.        To adopt the Common seal of the Company.
7.        To decide the financial year of the Company.
8.        Allotment of equity shares and issue of share certificates .
9.        To approve reimbursement of Preliminary expenses.
10.    Waiver of directors fees.
11.    Any other item, if any, with the permission of the Chair.
 

 

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On 07 September 2013 at 16:56
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Company Secretary
74342 Points Joined March 2009

 

APPOINTMENT OF COMPANY SECRETARY 
  (Section 383A & Companies (Appointment and Qualifications of Secretary) Rules, 1988)
             
1 Every company having paid-up share capital of not less than Rs. 5 Crores shall have whole time secretary [Rule 2(1)].
 
2 Where the paid up share capital is increased to Rs. 5 Crores or more, the Company shall appoint whole time secretary within a period of 1 year from the date of such increase [Proviso to Rule 2(4)].
 
3 A company having a paid up share capital of less than Rs. 2 Crores may appoint any individual, possessing qualification specified in Rule 2(4), as its whole time secretary to perform duties of secretary, and any other ministerial or administrative duties [Rule 2(3)].
 
4 A company having a paid up share capital of Rs. 2 Crores or more but less than Rs. 5 Crores may appoint any individual who is member of ICSI, as a whole time secretary [Rule 2(3A)].
 
5 A company having paid up capital of Rs. 10 lakhs or more but less than Rs. 5 Crores shall obtain Compliance Certificate from PCS provided if such company has appointed Whole Time Secretary who is member of ICSI then compliance certificate is not required to be obtained.
 
6 Where the BOD comprises only two directors, neither of them shall be secretary of the Company.
             
Summarized
             
Paid up Capital Appointment of CS Any Individual / Member of ICSI Compliance Certificate
Rs. 5 Crores or more Compulsory Only Member of ICSI N.A.
 
Rs. 10 Lakhs or more to Rs. 2 Crores  Voluntarily  Either of Above Not required if CS is member of ICSI
 
Rs. 2 Crores or more to Rs. 5 Crores  Voluntarily  Member of ICSI Not required if appointment is made

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On 07 September 2013 at 17:03


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