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Board Meeting

Meeting of Board of Directors is required to be held within 30 days of Incorporation of Company. Notice of BM must be send to every director at least 7 days before the meeting.

Board Meetings

4 Board Meetings to be held every year with not more than 120 days gap between two meetings.

of Disclosure of interest by Directors

director at:
meeting in which he participates as director; or
meeting of Board in every FY; or
there is change in disclosures Shall disclose in Form MBP-1 (along with list of relatives and concern of relatives in the Company as per RPT definition), his concern or interest in any company, body corporate, firm or other association of individuals (including shareholding interest).
shall be kept in the records of the company.

Auditor

Auditor of the company shall be appointed by the BOD within 30 days of Incorporation who shall hold the office till the conclusion of 1st AGM. In case of First Auditor, filing of ADT-1 is not mandatory.

Auditor

BOD shall appoint the auditor in first AGM of company who shall hold the office till the conclusion of 6th AGM and shall inform the same to ROC by filing ADT-1. The responsibility to file Form ADT 1 is that of the company and not of the auditor within 15 days from the date of appointment.

General Meeting

Company is required to hold an Annual General Meeting on or before 30th September every year during business hours (9 am to 6pm), on a day that is not a public holiday and either at the registered office of the Company or within the city, town or village where the registered office is situated. A 21 clear days’ notice is required to be given for the same.

of Annual Return (Form MGT-7)

Private Limited Company is required to file its Annual Return within 60 days of holding of Annual General Meeting. Annual Return will be for the period 1st April to 31st March.

of Financial Statements (Form AOC-4)

Private Limited Company is required to file its Balance Sheet along with statement of Profit and Loss Account and Director Report in this form within 30 days of holding of Annual General Meeting.

Audit of Accounts

Company shall prepare its Accounts and get the same audited by a Chartered Accountant at the end of the Financial Year compulsorily. The Auditor shall provide an Audit Report and the Audited Financial Statements for the purpose of filing it with the Registrar.

Compliances
are those occurs on certain events like change in directors, change of registered office, change in authorized share capital etc. Hence, it is necessary that the happening of such events get tracked and compliances met with on time in order to avoid penalties or additional fees

Compliances

The compliances applicable to the company could be segregated into 2 parts Mandatory Compliances and Event Based Compliances.

1. Mandatory Compliances
Private Limited company

Mandatory Compliances	Description
First	First
Subsequent	Minimum
Filing	Every - First - First - Whenever Form MBP-1
First	First
Subsequent	The
Annual	Every
Filing	Every
Filing	Every
Statutory	Every

2. Event Based Even based compliances and Timeline

Events	Form No.	Time Limit
Change in registered office	INC-22	Within fifteen days from the date of such change
Change in Directors or KMP	DIR-12	Within 30 Days of such change
Increase in Authorized Share capital	SH-7	Within 30 days of passing Ordinary Resolution
Filing of resolution and agreements	MGT-14	Within 30 days from date of passing resolution
Increase in Paid up share capital (Issue of security)	PAS-3	Within fifteen days from the date of the allotment
Change in secured borrowing (Creation, modification and satisfaction of charge)	CHG-1	All types of Charges within 30 days of its creation
Application for KYC of Directors	DIR-3 KYC	On or before 30th April of immediate next Financial Year (Annual Compliance)
ACTIVE (Active Company Tagging Identities and Verification)	INC-22A	On or before 25th April 2019 (Applicable to all companies registered before 31st December 2017)
Declaration of Commencement of Business	INC-20A	Within a period of 180 days of the date of incorporation of the company. (Applicable to companies incorporated after 2nd November, 2018.)

Consequences of Non-Compliances

If a company fails to follow any of the regulatory compliances then the Company and every officer who is in default shall be punishable with fine for the period for which default continues. Hence the penalties will keep on increasing as the time period of non-compliance increases.