Shivangi Pandey (ACA-Retainer) (105 Points)
23 August 2011Hi,
A private Ltd. co. incprporated on 07.10.2010 held its its first Board meeting on 25.01.2011. Bank a/c in the name of Company has been opened on 24.12.2010. Now the client wants things to fall in place as they have git to apply for CC. Can anyone guide me.
Thanks & Regards
jeets
(CS )
(461 Points)
Replied 23 August 2011
RG - A Helping Hand
(Company Secretary)
(13867 Points)
Replied 23 August 2011
Hi,
There is nothing in law which compels a private company to hold its first BM within a time frame. However there are certain conditions in law which requires a company to hold its first BM within time. Like section 224(5) which requires first auditor of the company should be appointed in the board meeting with in a period of 1 months of incorporation.
Since it’s a private company hold a board meeting on paper from back date and put few necessary agendas to be transacted in first BM and send minutes of this BM to your client.
Regards
RG
CAclubindia
