1. OPENING OF BANK ACCOUNT OF THE COMPANY:

To transact the business of the company, it is required to open and maintain a current account with any bank in India through which all the receipts and payments of banking nature shall be transacted. Failure to do may attract heavy penalties levied by ROC.

2) DECLARATION OF COMMENCEMENT OF BUSINESS:

Immediately on the opening of the Bank account and before the commencement of any business operations, the Company has to ensure the deposit of the subscription amount by the subscribers as agreed and provided in the Memorandum of Association of the Company. On the deposit of the subscription amount in the Bank account, the Company has to file a Declaration of Commencement of business with the Registrar of Companies (ROC) in form INC-20A, which evidences that the subscribers have deposited the subscription money in the bank account of the Company. As per the provisions of Companies Act, 2013, the Company has to file such form INC-20A within 180 days of its incorporation. However, until such declaration of commencement is filed with the ROC, the Company cannot commence any of its business operations.

3) ALLOT THE SUBSCRIBED SHARES TO THE MEMBERS:

Thereafter, the Company shall issue duly stamped and signed share certificates within 60 days of such allotment.

4) FIRST BOARD MEETING AND SUBSEQUENT BOARD MEETINGS:

First Meeting of Board of Directors is required to be held within 30 days of Incorporation of Company. Notice of BM must be send to every director at least 7 days before the meeting. Further, minimum 4 Board Meetings to be held every year with not more than 120 days gap between two meetings.

5) FIRST AUDITOR:

First Auditor of the company shall be appointed by the BOD within 30 days of Incorporation who shall hold the office till the conclusion of 1st AGM. In case of First Auditor, filing of ADT-1 is not mandatory.

6) SUBSEQUENT AUDITOR

The BOD shall appoint the auditor in first AGM of company who shall hold the office till the conclusion of 6th AGM and shall inform the same to ROC by filing ADT-1. The responsibility to file Form ADT 1 is that of the company and not of the auditor within 15 days from the date of appointment.

7) ANNUAL GENERAL MEETING

Every Company is required to hold an Annual General Meeting on or before 30th September every year during business hours (9 am to 6pm), on a day that is not a public holiday and either at the registered office of the Company or within the city, town or village where the registered office is situated. A 21 clear days’ notice is required to be given for the same.