How do Private Limited Companies Maintain Compliance in Pune?

by Mary J. Hill Marketing Manger , Freelancer

The most common way to start a business is through a private limited company, however, once your company is incorporated, several compliances must be followed.

It can be a little difficult for any entrepreneur to manage the day-to-day operations of their organization while also adhering to corporate regulations. Therefore, it is crucial to get professional assistance and comprehend these legal requirements to ensure that compliances are complete without the imposition of interest or penalties. Here Alonika, experts will help you to understand the concept of Mandatory Annual Compliance in Pune.

Mandatory Annual Compliance in Pune:

Ø Board of Director’s Meeting: The first Board meeting must take place within 30 days of the company's incorporation. Thereafter, 4 board meetings must be held each fiscal year, spaced so that there is never a gap of more than 120 days between meetings.

Ø Issue of Share Certificate: Within 60 days of the company's incorporation, the company must issue Share Certificates to the subscribers to the memorandum.

Ø Appointment of First Auditor: The first auditor of the Company shall be appointed by the Board of Directors within thirty (30) days after the date of incorporation and shall hold office until the conclusion of the first Annual General Meeting. In the case of the First Auditor, there is no need to file an ADT-1.

Ø Appointment of Subsequent Auditor: The subsequent Auditor will be appointed for five years by the AGM. With 15 days of appointment at the Annual General Meeting.

Ø Annual General Meeting: The Annual General Meeting of each Private Limited Company shall be held during regular business hours on or before September 30 of each fiscal year. On a day that is not a general public holiday or at the registered office of the private limited company in the village, town, or city where the registered office is situated. Annual Compliance for Companies

Ø Annual Return forms:

· Filing of Form MGT-7: Must be filled out within 60 days after the annual general meeting.

· Filing of form ADT- 1: within 15 days of the auditor's appointment date.

· Filing of Form AOC- 4: within 30 days after the annual general meeting.

Ø Audit Report: Every Private Limited Company is required to prepare its accounts reports and receive the appropriate audit from a Professionals/Chartered Accountant after each financial year. The Auditor must include an Audit Report and the company's audited financial statements when submitting the firm to the Registrar.

Ø Directors' Report: The Private Limited Company should file this along with all the necessary information that a Small Company is required to give under Section 134.

Ø The Annual Financial Statement: The Private Limited Company should make sure that at least 21 days before the Annual General Meeting (AGM), the annual financial statement and other documents, such as the Director's Report and the Auditor’s Report, have been distributed or delivered to the members.

Ø Maintaining Statutory Registers: It is necessary to maintain the statutory register of chargers and register of directors etc…

Documents required for the Startup Compliance services:

The following documents are required for the startup compliance services in Pune:

· Director’s DSC

· PAN Card.

· Certificate of Incorporation

· Certificate of MOA and AOA

· Audited Financial Statement

· An audit report of the Board of Directors

The Advantages of the ROC Annual compliance in Pune:

The following points are the benefits of company Annual Filing in Pune:

· Stay out of default