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Company resolution after incorporation

CA JATINDER SALHOTRA (PRCTICE CA) (59 Points)

21 November 2014

I got a new private company assignment please guide me on following particulars,

1. Company Incorporation on 07/08/2014.

2. Company Open Bank Account 20/10/2014.

Not Even a single document filed by client. which resolution need to file with ROC ?

example (i) appointment of auditor

(ii) open bank account

(iii) commencement of working

(iv) interest of director-MBP-1

should i call Egm?? OR Pass some resolution in board metting

Guide me

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3 Replies

shivaji prasad bhimavarapu (CHARTERED ACCOUNTANT) (2391 Points)
Replied 22 November 2014

1. if Directors are interested in any other concerns/companies/firms, they have to disclose such interest at the first board meeting in MBP-1, based on that File MGT-14 within 30 days from the date of such board meeting. If they do not have such concerns, no MBP-1.

2. Appoint First Auditors within 30 days of Incorporation by Board of Directors.If failed, within 90 days ,auditors to be appointed by shareholders in EGM. You can conduct Board meeting within 30 days and appoint.

3. I dont think ADT-1 is to be filed for First Audiotrs.( Some experts may throw more light, if I am wrong).

4. The MOST important is : within 6 moths the company has to file INC-21 with ROC to commence the business even for Private Companies. The Subscribers to the memorandum has to bring in the money through banking chaneels to deopsit in the company bank account.Then file INC-21.

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CA JATINDER SALHOTRA (PRCTICE CA) (59 Points)
Replied 24 November 2014

Sir,

Thanks, I also want to know which document to be attached with inc-21

1. Inc-10 format

2. Affidavit ( What declration to be given on affidavit) ?

3. or anything else???

Kindly Guide me

shivaji prasad bhimavarapu (CHARTERED ACCOUNTANT) (2391 Points)
Replied 24 November 2014

1. A declaration from Directors like : " that all the requirements of Companies Act, 2013 and the rules made there under and are complied with and we further declare that, every subscriber to the MOA has paid the value for shares agreed to be taken by him and the same has been paid through bank channels, but not by cash for the commencement of the business of the company." on a stamp paper depending on the State the company is registered ( say Rs.50/- or Rs.100/-). duly signed by all the Directors.( in AP state, I used Rs.20/- stamp paper. Thee is no harm in using a high valued stamp paper)

2. INC-10 duly attested with Photos of the Directors by the Bank Manager or Notary for all the subscribers.

The INC-21 form is to be filed alongwith these attachments. The stamp paper vendor name and stamp paper particulars are to be filled on the form INC-21. IT is simple.