HOW TO CONDUCT THE FIRST BOARD MEETING
After Incorporation of Private Limited Company, the first board meeting must be held within 30 (THIRTY DAYS), Prior to conduction the first board meeting, notice of board meeting must be provided to the Directors of the company. The notice issued to directors must mention that it is the first board meeting of the company.
Agenda in First Board Meeting
The following business must be transacted in the first board meeting of the company:
Appointment of Chairman
The registered office of the Company
Company MOA and AOA
Incorporation Certificate
Company PAN and TAN
Appointment of First Auditor
Remuneration of First Auditor
Duty and Responsibilities of Director
Remuneration of the Directors
Consider and approve the preliminary expenses incurred in connection with the Incorporation of the Company.
The opening of Current account of the Company
Allotment of Share Certificate
Board may take up any other matter with the permission of the Chairman.
All the above-mentioned details are also required to be printed on the company’s business letters and on all documents (official) and publications going through the company.
Having PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) is mandatory requirement, even on opening Bank Account is basic requirement and in order to deduct TDS you required TAN Number.
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Let’s start with some of the basic mandatory compliances which are required immediately after forming your Company.
Mandatory Compliance – within 30 Days.
- Appointment of First Auditor.
- Preparing and printing Share certificates
- Holding the First Board Meeting
- Drafting the notice of Board Meeting
- Preparing minutes thereof
- Preparation of attendance sheets of the board meetings,
- Preparing the directors’ disclosures of interest in other concerns.
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