Every company needs to comply the compliance mentioned by the Ministry of Corporate Affairs from time to time and other compliance as mentioned by Companies Act, 2013 or any other applicable act over the company.
As per the Companies Act, 2013, some major compliance are Board Meeting, appointment of statutory auditor, MGT-7, Director’s KYC, INC-22A, DPT-3 and many other event based compliances need to fulfill.
Following are the Number of compliances and its brief:
1. Board Meeting: Directors can attend the meeting in person or through video conferencing within 30 days from the date of incorporation which is the mandatory compliance. Minimum Four Board Meetings shall be held in a calendar year (one meeting in every 3 months). Disclosure of Interest by Directors is also mandatory to disclose at very first Board Meeting of Directors.
2. Appointment of Auditor: Auditor needs to appoint within one month from the date of incorporation and if proceeding with the form then required to file within 15 days from the date of appointment. Financial needs to be audited every financial year.
3. Commencement of Business: Declaration with attachment needs to file with the help of Form INC-20A within the maximum period of 180 days from the date of incorporation.
4. Issue of Share Certificate- Issuance of Share certificate is mandatory within 60 days from the date of incorporation and need to pay the stamp duty within 30 days from the allotment date.
5. DPT-3: By 30th June, every company needs to disclose the outstanding loan and other amount by the help of Form DPT-3.
6. Annual Compliances: Every company needs to file Annual compliance form by the name MGT-7, AOC-4 along with financials, Director’s Report and Shareholding pattern as attachments.
7. Other event based: These form wholly depends on the event that will be happen by the company that may increase in authorized capital, Shifting of Regd. Office, Change of Name, Providing Loan to directors or other company have to follow the respective form and procedure.
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