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 REQUIREMENTDUE DATE / WHEN DOES THE REQUIREMENT ARISES DESCRIPTIONFORMS/FILING MODE
1.First Board Meeting  within 30 days from the date of incorporationHeld to take note of various aspects of Company . For eg., To take note of first Director, first Auditor, Certificate of incorporation etcNA
2.Subsequent Board MeetingsMinimum 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 yearNA
3.Declaration of Commencement of BusinessWithin 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 AuditorAppoint within 30 days from the date of incorporationAuditor is appointed to audit the financial affairs of the Companye-form ADT-1 (but it is  optional form)
5.        Subsequent Auditor (in normal case)Within 15 days from the conclusion of AGMAppointed 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 reasone-form ADT-3        + e-form ADT-1
7.Stamping of Share Certificateswithin 1 month from issuance of sharescertificatesStamping is required to be made to pay stamp duty to Government, on shares issued by the CompanyProcess 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 Certificateswithin 1 month from issuance of share certificateWhen 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 CompanyProcess 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 entities1. First Board meeting attended + 2. At the first Board meeting in every financial year + 3. Whenever there is any change in the disclosures already made1. 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-disqualificationEvery Financial YearEvery Director of the Company in each Financial Year will file with the Company disclosure of his non-disqualification as a DirectorPhysical 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 DirectorNA
12.Subsequent  Annual General MeetingWithin 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 ROCWithin 30 days from the conclusion of the AGM AOC-4
14.Filing of annual return by a companyWithin 60 days from the conclusion of AGM MGT-7
15.First time KYC of DirectorUpto30th April of the immediate next financial yearEvery Person Holding DIN Must Get His KYC Updated with MCAE-Form DIR – 3 KYC(E-form)
16.Subsequent KYC of DirectorUpto30th April of the immediate next financial yearEvery Person Holding DIN Must Get His KYC Updated with MCAWeb Form DIR – 3 KYC (Web Based form)
17.Return of DepositsUpto30th June of every yearReturn of outstanding receipt of money or loan by a Companye-formDPT-3
18.Delay in Payment to MSME (Micro, Small and Medium Enterprises) VendorWithin 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 servicese-form MSME FORM-I
19.Director’s Appointment /ResignationWithin 30 days from appointment/ resignation  e-form DIR-12
20.Increase in Authorised Capital of the CompanyWithin 30 days from such increaseA pre-requirement to infuse more capital/money into the Companye-form SH-7
21.Increase in Paid –up Capital of the CompanyWithin 30 days from such increaseA requirement to infuse more capital/money into the Companye-form PAS-3
22.Intimation of passing of special resolutionWithin 30 days of passing of special resolution e-form MGT-14  
23.Shifting of Registered office within the stateWithin 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 debenturesWithin 30 days of creation/ modification e-form CHG-9
26.Particulars for satisfaction of chargeWithin 30 days of creation/ modification e-form CHG-4
27.Intimation of change in particulars of Director to be given to the Central GovernmentWithin 30 days of such change e-form DIR-6
      THANKS FOR READING…………..

Leave a Comment

Your email address will not be published. Required fields are marked *

Subscribe For Regular Updates