What will be do after Incorporation of a Company?
On incorporation, a Company is required to the file with the Registrar annually:
1. Balance Sheet and 2. Annual Return.
There are some periodic forms and other documents, they are filed with ROC, as and when the occasion arises.
Non filing or late filing of documents attracts penal provisions.
CONSTITUTION OF THE FIRST BOARD :- A form 32 is required to be filed with the Registrar of Companies within 30 days of such event.
BUSINESS TO BE TRANSACTED IN FIRST BOARD MEETING WITHIN THIRTY DAYS OF INCORPORATION
Within one month of incorporation of a Company, the Board appoints first auditors of the Company.
In case the first auditors are not appointed by by the Board of Directors within one month of the incorporation of the company, then they can only be appointed by the shareholders in a general meeting.
It means the first Board meeting should be held within one month from the date of its incorporation.
The first board should decided the financial year of the Company.
Generally, 1st financial year commences from the date of incorporation to approaching 31st March.
Generally, 2nd financial year commences from 1st April to 31st March.
There should be at least four Board meetings are required to be held in a year or there must be one board meeting in every quarter (three months) of a year
The quorum of a Board meeting shall be one third of its total strength of the Board or two directors, whichever is higher.
At the first meeting of the board of Directors, it is also necessary to record the particulars and description of the Directors and also the notices of interest from the Directors.
There should be one meeting of the Company shall be held at each year, which is called Annual General meeting (shareholder’s meeting)
ISSUE OF SHARE CERTIFICATE:- the Company, may also allot further shares to existing members or it may make new members.
Share certificates is signed by at least two Directors and one authorised signatory. It should also be properly stamped and common seal affixed on it.
COMMON SEAL:- One Common Seal ( an iron seal ) is also required by the Company as per Act.
A common seal is also adopted by the directors in first Board meeting.
Common seal are made in Aligarh ( U.P. ) only. The seal should be kept in safe custody, preferably in locks almirah.
ADOPTION OF FIRST ANNUL ACCOUNTS:- The balance sheet and profit and loss account, auditor’s reports and Director’s report are required to be placed before the shareholders in the annual general meeting for their adoption, as required under section 210.
The first annual general meeting can be held within eighteen months of incorporation.
Generaly second and subsequent AGMs are held within 6 
months from the last day of the Financial year.
A financial year may be extended from 12 to 18 months with the permission of ROC.
The gap between the last day of the financial year and date of holding the first annual general meeting should not, however, exceed nine months.
FILING WITH THE REGISTRAR:- Do not forget to file with the registrar concerned, within thirty days of their adoption, three copies of the balance sheet, profit and loss account, auditor’s report duly signed by any two Directors of the company.
FILE ANNUAL RETURN:- File with the Registrar every year a return in the form given in part II of schedule V to the Act along with all the information as required to be furnished in accordance with part I of the said schedule. This return is called the ‘annual return
It is to be filed within sixty days of the annual general meeting or on the day on which it ought to have been held, as the case may be.
REGISTERED OFFICE :- A Company should paint or affix its name and the address of its registered office
Such affixing of anemat the outside of the Registered office shall be within thirty days of its incorporation.
STATUTORY BOOKS AND REGISTERS WHICH A COMPANY MUST MAINTAIN:- A Company should maintain statutory books and registers listed below.
Non-maintenance of these registers attracts penal provisions of the relevant sections of the Act.
Most of these registers are also required to be made available for inspection to any member / debenture holder and, in some cases, to other persons as well, during business hours.
Subject to such other restrictions as the company may impose by its articles or in general meeting, not less then two hours in each working day must be allowed for inspection.
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