New company
This query is : Resolved
17 January 2014
IS THERE ANY DOCUMENT COMPULSORY REQUIRED TO BE SUBMITTED WITH MCA WITHIN ONE MONTH OF INCORPORATION OF A PRIVATE LTD. CO. HAVING AUTHORISED CAPITAL OF RS 1 CRORE
18 January 2014
As of now no such requirement.
18 January 2014
THANK U SIR 4 UR REPLY, IS THERE ANY BOARD RESOLUTION REQUIRED TO BE PASS WITHIN ONE MONTH OF INCORPORATION.
06 February 2014
Time limit for issue/allot shares to 1st subscribers of company from the date of incorporation & its return via Form 2 with MCA
10 February 2014
No Form 2 is to be filed for issue of shares to first subscribers. Only pass a resolution in board meeting and issue share certificates to them.
10 February 2014
if shares issued to first subscribers is in consideration other than cash i.e. in kind, is form 3 required, futher new shares has to be allotted in kind i.e. (some assets & liabilities) are taken over, there is no provision in form 3 to fill liabilities taken over, what to do? plz guide
03 August 2024
For a newly incorporated private limited company in India, the Companies Act, 2013 prescribes various compliance requirements that need to be fulfilled within specific timeframes. Here’s a detailed overview:
### 1. **Documents Required to be Submitted with MCA:**
**Within 30 days of Incorporation:**
1. **Form INC-22:** Notification of the situation of the registered office of the company. This form should be filed within 30 days from the date of incorporation. It confirms the location of the company's registered office.
2. **Form DIR-12:** Appointment of directors, if not already done during the incorporation process. This form should be filed to notify the appointment of directors to the Registrar.
3. **Form MGT-14:** Filing of the Board Resolution, if applicable. This form is required to be filed with the Registrar for passing any resolutions by the board of directors. This is necessary if the board has passed any resolutions related to matters such as appointment of auditors or any other significant decisions.
### 2. **Board Resolution:**
Yes, a **Board Resolution** is required to be passed within one month of incorporation to address several matters:
- **Appointment of Directors:** The board of directors needs to pass a resolution appointing the first set of directors, if not already done during incorporation.
- **Approval of First Board Meeting:** Approving the minutes of the first board meeting and other initial decisions.
- **Allotment of Shares:** A resolution must be passed for the allotment of shares to the subscribers.
### 3. **Share Allotment and Filing of Forms:**
**Time Limit for Issuing/Allotting Shares:**
- **Shares to First Subscribers:** Shares must be allotted to the first subscribers within 60 days from the date of incorporation.
**Forms Related to Share Allotment:**
- **Form PAS-3:** Return of Allotment of shares must be filed within 30 days of the allotment of shares. This form is used to report the allotment of shares to the Registrar.
- **Form INC-20:** This form is used to file a return of the allotment of shares, but it is generally superseded by PAS-3 for allotment.
**Shares Issued in Consideration Other than Cash:**
If shares are issued in consideration other than cash (i.e., in kind), you need to consider:
- **Form PAS-3:** For issuing shares in consideration other than cash, Form PAS-3 should still be used. You must provide details of the assets or property acquired in exchange for the shares.
- **Disclosure of Liabilities:** If the shares are issued in consideration of assets and liabilities taken over, while Form PAS-3 does not have a specific section for liabilities, you should disclose the nature of the consideration and the assets acquired in the explanatory notes or annexure of the form.
**In the Case of Assets and Liabilities Taken Over:**
- **Valuation Report:** Obtain a valuation report from a registered valuer to determine the fair value of the assets and liabilities taken over. This report will support the valuation of the shares issued.
- **Board Resolution:** Ensure a board resolution is passed detailing the consideration in kind, specifying the assets and liabilities taken over, and approving the issue of shares in consideration thereof.
### **Summary:**
1. **Submit Form INC-22 and Form DIR-12 within 30 days of incorporation.**
2. **Pass a board resolution for various initial matters, including the allotment of shares.**
3. **Allot shares within 60 days of incorporation and file Form PAS-3 within 30 days of allotment.**
4. **For shares issued in kind, include details in Form PAS-3 and ensure proper documentation and board resolution are in place.**
For specific guidance tailored to your company’s situation, consulting a company secretary or legal expert is advisable.
### 1. **Documents Required to be Submitted with MCA:**
**Within 30 days of Incorporation:**
1. **Form INC-22:** Notification of the situation of the registered office of the company. This form should be filed within 30 days from the date of incorporation. It confirms the location of the company's registered office.
2. **Form DIR-12:** Appointment of directors, if not already done during the incorporation process. This form should be filed to notify the appointment of directors to the Registrar.
3. **Form MGT-14:** Filing of the Board Resolution, if applicable. This form is required to be filed with the Registrar for passing any resolutions by the board of directors. This is necessary if the board has passed any resolutions related to matters such as appointment of auditors or any other significant decisions.
### 2. **Board Resolution:**
Yes, a **Board Resolution** is required to be passed within one month of incorporation to address several matters:
- **Appointment of Directors:** The board of directors needs to pass a resolution appointing the first set of directors, if not already done during incorporation.
- **Approval of First Board Meeting:** Approving the minutes of the first board meeting and other initial decisions.
- **Allotment of Shares:** A resolution must be passed for the allotment of shares to the subscribers.
### 3. **Share Allotment and Filing of Forms:**
**Time Limit for Issuing/Allotting Shares:**
- **Shares to First Subscribers:** Shares must be allotted to the first subscribers within 60 days from the date of incorporation.
**Forms Related to Share Allotment:**
- **Form PAS-3:** Return of Allotment of shares must be filed within 30 days of the allotment of shares. This form is used to report the allotment of shares to the Registrar.
- **Form INC-20:** This form is used to file a return of the allotment of shares, but it is generally superseded by PAS-3 for allotment.
**Shares Issued in Consideration Other than Cash:**
If shares are issued in consideration other than cash (i.e., in kind), you need to consider:
- **Form PAS-3:** For issuing shares in consideration other than cash, Form PAS-3 should still be used. You must provide details of the assets or property acquired in exchange for the shares.
- **Disclosure of Liabilities:** If the shares are issued in consideration of assets and liabilities taken over, while Form PAS-3 does not have a specific section for liabilities, you should disclose the nature of the consideration and the assets acquired in the explanatory notes or annexure of the form.
**In the Case of Assets and Liabilities Taken Over:**
- **Valuation Report:** Obtain a valuation report from a registered valuer to determine the fair value of the assets and liabilities taken over. This report will support the valuation of the shares issued.
- **Board Resolution:** Ensure a board resolution is passed detailing the consideration in kind, specifying the assets and liabilities taken over, and approving the issue of shares in consideration thereof.
### **Summary:**
1. **Submit Form INC-22 and Form DIR-12 within 30 days of incorporation.**
2. **Pass a board resolution for various initial matters, including the allotment of shares.**
3. **Allot shares within 60 days of incorporation and file Form PAS-3 within 30 days of allotment.**
4. **For shares issued in kind, include details in Form PAS-3 and ensure proper documentation and board resolution are in place.**
For specific guidance tailored to your company’s situation, consulting a company secretary or legal expert is advisable.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- GST on export of services and Input Credit
- TDS U/S. 194NF
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
