Obtaining COI (Certificate of Incorporation) is the First and far most Step for your Company. The company is born as an artificial legal person, operates by the directors and shareholders of the company. Directors of the Company acting as Brain of the Company and shareholders are the owners of the Company. After incorporation Company has to follow various legislations in India from time to time as may be prescribed under appropriate authorities.
“IGNORANTIA JURIS NON EXCUSAT”
IGNORANCE OF LAW IS NOT AN EXCUSE
After incorporation of the Company, please keep in mind this legal Maxim “IGNORANTIA JURIS NON-EXCUSAT” it means ignorance of the law is not an excuse. Therefore, a person who is unaware of the Compliances of the Company after incorporation can’t escape from the liability.
IMMEDIATE STEPS TAKEN AFTER INCORPORATION OF COMPANY
The following are the steps to be taken after obtaining the Certificate of Incorporation (COI) or after incorporation of the Company.
- FILING VERIFICATION OF REGISTERED OFFICE: A Company shall within 30 days from its Incorporation and all times thereafter have a registered office capable of receiving and acknowledging all communications and notices as may be addressed to the Company.
If at the time of Incorporation (while filing SPICe+ INC-32), the company was registered with a temporary address, the details of the Permanent Registered office in e-form INC-22 for Verification of Registered office of the Company shall be filed within 30 days from the incorporation of the Company.
- APPOINTMENT OF FIRST AUDITOR BY THE COMPANY: The Board of Directors shall within 30 days from the date of incorporation of the Company (other than Government Company), appoint a statutory auditor, having a valid Certificate of Practice.
- HOLD FIRST BOARD MEETING: Within 30 days from the date of Incorporation the Company shall hold its first Board Meeting and following agendas to be discussed:
- Take disclosure of Interest in form MBP-1 and the declaration of non-disqualification
- from each director of the Company in form DIR-8.
- To authorize the director to sign the Company documents or to carry out the day-to-day
- operations in the best interest of the Company.
4. ISSUE OF SHARE CERTIFICATE TO SUBSCRIBERS: Within 2 months from the date of incorporation, every Company must issue share certificates
5. STATUTORY REGISTERS: Every Company should maintain its Statutory Registers at all the time and it should be updated.
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