COMPLIANCES REQUIRED TO BE MADE BY DIRECTOR OF A PRIVATE COMPANY: AN OVERVIEW

COMPLIANCES REQUIRED TO BE MADE BY DIRECTOR OF A PRIVATE COMPANY: AN OVERVIEW

                                                         DIVYANSHU SAHNI & ASSOCIATES                                                      COMPANY SECRETARIES                   KirtiShikhar Building, District Centre, JanakPuri, New Delhi -110058                                Email: info@finlegalforte.com    Mob; +91-9871027426                                                    Website: www.finlegalforte.com, www.csdivyanshu.com
S. NO. COMPLIANCES REQUIREMENT DUE DATE / WHEN DOES THE REQUIREMENT ARISES DESCRIPTION FORMS/FILING MODE
1. First Board Meeting   within 30 days from the date of incorporation Held to take note of various aspects of Company . For eg., To take note of first Director, first Auditor, Certificate of incorporation etc NA
2. Subsequent Board Meetings Minimum 4 Board Meetings in one year having maximum120 days gap between two consecutive meetings. (A notice is required to be given to all the Directors individuallyatleast 7 days before the Board Meeting) To discuss various agendas during the year NA
3. Declaration of Commencement of Business Within 180 Days from The Date of Incorporation of the Company.   A Company shall not commence its business or exercise any borrowing powers unless a declaration is filed by the Director within 180 days from the date of Incorporation of the Company. e-form INC 20A
4. Appointment of  First Auditor Appoint within 30 days from the date of incorporation Auditor is appointed to audit the financial affairs of the Company e-form ADT-1 (but it is  optional form)
5.         Subsequent Auditor (in normal case) Within 15 days from the conclusion of AGM Appointed in Annual General Meeting (AGM) of the Company   e-form ADT-1
6.         Subsequent Auditor (in case of casual vacancy) ADT-3: File within 30 days from resignation + ADT-1: File within 15 days from appointment   If existing Auditor resigns and new Auditor is appointed during the year due to any reason e-form ADT-3        + e-form ADT-1
7. Stamping of Share Certificates within 1 month from issuance of sharescertificates Stamping is required to be made to pay stamp duty to Government, on shares issued by the Company Process varies from one state to state. For eg., it is electronic procedure in case of Delhi based Companies and in Uttar Pradesh, the process is in physical mode
8. Subsequent Stamping of Share Certificates within 1 month from issuance of share certificate When paid up capital of the Company gets increased by infusion of more money/capital by the subscribers, then Stamping is required to be made on the new share certificates issued by the Company Process varies from one state to state. For eg., It is electronic procedure in case of Delhi based Companies and in Uttar Pradesh, the process is in physical mode  
9. Disclosure of interest by Director in all other entities 1. First Board meeting attended + 2. At the first Board meeting in every financial year + 3. Whenever there is any change in the disclosures already made 1. Every director shall at the first Boardmeeting in which he participates and , 2. At the first Boardmeeting in every financial year And, 3. whenever there is any change in the disclosures already made, then at the first Board meeting held after such change, disclose his concern or interest in other entities to the Company. Physical form Form MBP- 1
10. Disclosure of non-disqualification Every Financial Year Every Director of the Company in each Financial Year will file with the Company disclosure of his non-disqualification as a Director Physical form DIR-8
11. First Annual General Meeting(AGM) Within 9 months from the end of financial year   (Notice of AGM will be sent to shareholders atleast21 clear days before AGM) AGM is convened to adopt the financial statements and other documents of the Company, + to appoint statutory auditor in the Company(who can be appointed for a maximum tenure of 5 financial years) + Payment of Dividend to the shareholders + Appointment of Director NA
12. Subsequent  Annual General Meeting Within 6 months from the end of financial year (Notice of AGM will be sent to shareholders atleast 21 clear days before AGM) Same as above description  
13. Filing of financial statement and other documents with the ROC Within 30 days from the conclusion of the AGM   AOC-4
14. Filing of annual return by a company Within 60 days from the conclusion of AGM   MGT-7
15. First time KYC of Director Upto30th April of the immediate next financial year Every Person Holding DIN Must Get His KYC Updated with MCA E-Form DIR – 3 KYC(E-form)
16. Subsequent KYC of Director Upto30th April of the immediate next financial year Every Person Holding DIN Must Get His KYC Updated with MCA Web Form DIR – 3 KYC (Web Based form)
17. Return of Deposits Upto30th June of every year Return of outstanding receipt of money or loan by a Company e-formDPT-3
18. Delay in Payment to MSME (Micro, Small and Medium Enterprises) Vendor Within 30 days from the end of each half year. i.e   April to Sep –  31st October October to March – 30th April    All companies, who get supplies of goods or services from micro and small enterprises and whose payments to micro and small enterprisesuppliers exceed 45 days from the date of acceptance or the date of deemed acceptance of the goods or services e-form MSME FORM-I
19. Director’s Appointment /Resignation Within 30 days from appointment/ resignation    e-form DIR-12
20. Increase in Authorised Capital of the Company Within 30 days from such increase A pre-requirement to infuse more capital/money into the Company e-form SH-7
21. Increase in Paid –up Capital of the Company Within 30 days from such increase A requirement to infuse more capital/money into the Company e-form PAS-3
22. Intimation of passing of special resolution Within 30 days of passing of special resolution   e-form MGT-14  
23. Shifting of Registered office within the state Within 30 days of shifting of registered office   e-form INC-22
24. Registration of creation,modification of charge (other than those related to debentures) Within 30 days of creation/ modification   e-form CHG-1
25. Registration of creation/modification of charge for debentures Within 30 days of creation/ modification   e-form CHG-9
26. Particulars for satisfaction of charge Within 30 days of creation/ modification   e-form CHG-4
27. Intimation of change in particulars of Director to be given to the Central Government Within 30 days of such change   e-form DIR-6
      THANKS FOR READING…………..

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