Post incorporation compliance

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AmruthaShruthi CS

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Jun 19, 2019, 5:11:04 AM6/19/19
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Hello Members,

Does anyone have a checklist for post incorporation compliances of a newly incorporated public company? Along with the regular general post incorporation compliances, is there anything specific compliance to be followed by a public limited company? This company is unlisted.

Thank you in advance.

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Regards,
Amrutha Iyengar
Company Secretary
#1, 8th Cross, 5th Main,
Padmanabhanagar
Bangalore - 560 070
Office: 080 - 2669 3284

Pankaj CS

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Jun 20, 2019, 2:53:49 AM6/20/19
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PUBLIC Companies

 

Post conversion following shall be the immediate Compliance under the Companies Act, 2013(please suggest if anything I have missed)-

 

 

  1. Maintain copy of Incorporation Documents:

The company shall maintain and preserve at its registered office copies of all documents and information as originally filed on incorporation till the dissolution of the Company. [Section-7(4)]

 

  1. Confirmation of appointment of first Directors of Company:

As per Section- 149 - The constitution of the Board shall be subject to following conditions-

a)      At least one woman director is required to be appointed in public company having –

-          paid up capital of Rs. 100 crores or more or

-          turnover more than Rs. 100 crores or more

b)      Every company shall have at least one director who has stayed in India for a total period of not less than one hundred and eighty two days during the financial year(proportionately),

c)      At least Two Independent Directors are required to be appointed in Public company having (Rule 4(1)-

-          paid up capital of Rs. 10 crores or more or

-          the companies having turnover more than Rs. 100 crores or more or

-          having outstanding loans/ debentures/ deposit exceeding Rs. 50 crores or more.

 

The following classes of unlisted public company shall not be covered under sub-rule (1), namely:-.

(a) a joint venture;

(b) a wholly owned subsidiary; and

(c) a dormant company as defined under section 455 of the Act."]

 

 

  1. Maintain a Registered Office:

As per Section -12(1) company shall, within 30 days of its incorporation and at all times thereafter, have a registered office capable of receiving and acknowledging all communications and notices as may be addressed to it.

 

  1. Appointment of First Auditor of Company:

As per Section- 139(6) – The First auditor of company shall be appointed by the Board of Directors within 30 (thirty) days from the date of registration of the company.

 

  1. Issue Share Certificate As per Section- 56(4)(a):

Every company shall issue Share Certificate within a period of 2 (two) month from the date of incorporation

 

  1. Adopt and Affix Board outside the Registered office:

As per Section- 12(3)(a) – on Board of Company following things should be mentioned, apart from the registered office of the company which should be affixed outside of every office or place in which its business is carried on:

a)      Name of Company.

b)         b)      Registered office address of company.

 

  1. Letter Head /billheads, letter papers and all its notices and other official publications of the Company shall be in accordance with Section 12(3)(c):

 As per Section- 12(3)(c) – on letter head of Company following things should be mentioned:

a)       Name of Company.

b)       The address of Registered Office of Company.

c)       Corporate Identification Number.

d)       Telephone No. and Fax No., if any

e)         e)       E-email and Website addresses, if any

 

  1. Disclosure of Interest: 

As per Section- 184(1) - Every director shall disclose his concern or interest in any company or companies or body corporate (including shareholding interest), firms or other association of individuals, by giving a notice in writing in Form – MBP 1.

 

  1. Statutory Books and Registers which a company should maintain:

Registers required to be maintained as per Companies Act-2013, are as under:

– Register of members, Register of Debenture holders, Register of charges etc.

 

  1. Appointment of Key Managerial Personnel:

-          As per Section- 203 - Every public company having paid up share capital of ten crore rupees or more shall have following whole time key managerial personnel-

a)      Managing Director, or CEO or Manager and in their absence, whole time director,

and

b)      CFO

 

 

11.        11. Appointment of Whole Time Company Secretary:

      Appointment of a whole time company secretary is mandatory in case of company having paid up share capital of Rs. Five crore or more.

 

12.  Committees of the Board(as per Section 177 (rule 6 therof) and Rule 4(1) of The Companies (Appointment and Qualifications of Directors) Rules, 2014:

The Board of directors of every public company shall constitute an Audit Committee, a Nomination and Remuneration Committee of the Board if-

a)      paid up capital is ten crore rupees or more,

b)      turnover is one hundred crore rupees or more,

c)      aggregate of outstanding loans or borrowings or debentures or deposits exceeds fifty crore or more.

 

The following classes of unlisted public company shall not be covered under sub-rule (1), namely:-.

(a) a joint venture;

(b) a wholly owned subsidiary; and

(c) a dormant company as defined under section 455 of the Act."]

 

13.  Appointment of Internal Auditor:

As per Section 138 – Every public company shall appoint an internal auditor or a firm of internal auditors if –

a)      paid up share capital is Rs. 50 crore or more during the financial preceding year; or

b)      turnover is Rs. 200 crore or more during the financial preceding year; or

c)      outstanding loans or borrowings from banks or public financial institutions exceeds 100 crore or more at any point of time during the financial preceding year; or outstanding deposits is Rs. 25 crore or more at any point of time during the financial preceding year.

 

14.      14. Obtain Permanent Account Number (PAN) of Company:

As per Form No. 49A of Income Tax Act.

 

  1. Opening of Bank Account.

 

 Regards

Pankaj Khandelwal

Mumbai

AmruthaShruthi CS

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Jun 20, 2019, 3:37:26 AM6/20/19
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Thank you so much for the information!
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Kavita Padia

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Jul 8, 2019, 3:11:06 AM7/8/19
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Do we still need to file Form INC 22 post incorporation of company for intimating the registered office address of the newly incorporated entity 

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Regards,
Amrutha Iyengar
Company Secretary
#1, 8th Cross, 5th Main,
Padmanabhanagar
Bangalore - 560 070
Office: 080 - 2669 3284


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muralidharan m.d

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Jul 8, 2019, 4:02:11 AM7/8/19
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Regards,
Amrutha Iyengar
Company Secretary
#1, 8th Cross, 5th Main,
Padmanabhanagar
Bangalore - 560 070
Office: 080 - 2669 3284


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muralidharan m.d

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Jul 8, 2019, 4:02:58 AM7/8/19
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no. on or before 31.12.2017 incorporated cos. only


On Monday, July 8, 2019 at 12:41:06 PM UTC+5:30, CS Kavita Padia wrote:
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Regards,
Amrutha Iyengar
Company Secretary
#1, 8th Cross, 5th Main,
Padmanabhanagar
Bangalore - 560 070
Office: 080 - 2669 3284


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Pankaj CS

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Jul 10, 2019, 4:03:51 AM7/10/19
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Inc-22 after incorporation is mandatory to file if you have not given documents of registered office at the time applying for company incorporation.

Regards
Pankaj

On Wednesday, 19 June 2019 14:41:04 UTC+5:30, AmruthaShruthi CS wrote:

Kavita Padia

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Jul 10, 2019, 4:52:08 AM7/10/19
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Hi pankaj

I recently incorporated a company through spice form and had attached gas bill in the name of director, society maintenance bill in the name of dir and noc from director, director being owner of the premise and my company got incorporated

Now do i need to file inc 22 again

Kindly confirm

Regards 



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Kavita Padia

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Jul 15, 2019, 11:00:21 AM7/15/19
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Yes selected regd office address same as correspondence address...in that case?

On Mon, 15 Jul 2019, 20:24 Pankaj, <panka...@gmail.com> wrote:
No, if you had selected the option of Registered office address same as correspondence address. Check your incorporation form for this. 

Regards
Pankaj

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Regards
Pankaj

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priyanka mandore

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Jul 29, 2019, 12:14:21 AM7/29/19
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Dear all please inform if address provided in spice form for office address is only for correspondence purpose and not registered office then also do we need to provide some attachment or not required?

Thanks & Regards
Cs Priyanka Lohe



V Kartik

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Jul 29, 2019, 12:17:50 AM7/29/19
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Yes you have to. Else you might receive a query for it.

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priyanka mandore

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Jul 29, 2019, 1:17:02 AM7/29/19
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Which kind of attachment?? Rent agreement noc and utility bill or just declaration or something else?

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V Kartik

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Jul 29, 2019, 1:33:58 AM7/29/19
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Advisable to attach the latest utility bill along with NOC from the owner. Pls ensure that the address mentioned in NOC exactly matches with the one mentioned in the utility bill you are attaching.

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priyanka mandore

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Jul 29, 2019, 1:36:01 AM7/29/19
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Ok thanks sir

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CS RAJU UPPU

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Jul 29, 2019, 2:50:14 AM7/29/19
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If it is only a correspondence address then no need to attach any document. After approval file INC-22 within 30days by attaching E. bill, NOC & Rental agreement. 
Ok thanks sir

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Pankaj

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