Startup? Planning to start a private limited company? Then you must read this

Although Private Limited Company is the most popular form of starting a business, there are various compliances which are required to be followed once your business is incorporated.

Don't be scared we are there.

1. Mandatory Compliances

a. Board Meetings

i. Minimum 4 Board Meetings to be held every year

b. Registers to be maintained

i. Register of Members MGT-1

ii. Register of other Security Holders residing outside India MGT-3

iii. Register of Transfer and Transmission of Shares SH-6

iv. Register of Charge CHS-7

v. Register of Directors and KMP

vi. Index of the Registers

c. Resolution

i. Every resolution (with explanatory statement, if any) or Agreement for the specified matters to be filed with ROC in Form MGT‐14 within 30 days.

d. Minutes of Meeting

i. Minutes of every general meeting, Creditors, Board and Committee shall be prepared and kept within 30 days of conclusion of every meeting concerned.

e. DPT-3

i. By 30th June for deposites

f. Filing of Director’s Identification Number (DIN) KYC:

i. KYC details for every Financial Year.

g. Certificate of Commencement of Business

i. One time within 180 days

h. Disclosure of interest by Directors

i. Every director discloses all its financial interest.

2. Forms to be filed based on events

a. Appointment of Director

i. With ROC in Form DIR‐12, within 30 Days of appointment

b. Resignation by Director

i. Company shall file with ROC in Form DIR‐12 in 30 days

c. Increase in Authorized Share capital

i. SH-7 within 30 days of OR

d. Auditor Appointment

i. Form ADT 1 within 15 days from the date of appointment.

e. Resignation of Auditor

i. Form ADT 3 within 30 days from the date of appointment.

f. Change in secured borrowing (Creation, modification and satisfaction of charge)

i. CHG-1 within 30 days of creation of charge

g. MSME Form 1

i. If payment exceed to MSME more then 45 days

h. PAS-3

i. Issue of shares

i. BEN-2

i. If beneficial holder above 10%

3. AGM

a. hold an Annual General Meeting on or before 30th September every year

4. Filing of Financial Statements

a. within 30 days of its Annual General Meeting with Registrar of Company in E-Form AOC-4, also director report

5. Filing of Annual Return

a. within 60 days of Annual General Meeting in E-Form MGT-7. A company having turnover of INR 50 Crore or more shall be certified by a Practicing CS in Form MGT-8.

Don't get scared, rather consultation of proper CA or CS will make your compliance easy.

Regards

CA Umang Jain

+91 96323-32850

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