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A Private Limited Company needs to comply with the statutory requirements listed in the Companies Act. Get in touch with the Wissen team to know and act on your Secretarial Compliance for Private Limited Companies and breathe easy
Private Limited companies must ensure that the following mandatory compliances are in place:
The first board meeting must be held within 30 days of the company incorporation. At least seven days prior to the meeting, a BM notice must be sent to all the directors.
Two meetings (minimum) to be held annually, a gap of 180 days or less in between the two.
Every director at-
The company’s first auditor will be appointed by the Board of Directors (within 30 days of incorporation) and shall hold the office till the first AGM’s end. ADT-1 filing not mandatory for the first auditor.
The subsequent auditor will be appointed by the BOD during company’s first AGM. The auditor will hold the office till the sixth AGM’s end and shall inform the ROC by filling ADT-1.
An annual AGM is to be held by company on or before September 30th during business hours, not on a public holiday. This AGM must be held at registered company office address or within the city (21-day notice required).
Annual returns are to be filed within 60 days of the AGM by every Private Limited company -annual returns are for the 1st April to 31st March period.
Every Private Limited company is required to file a balance sheet, a profit and loss account statement and a director report within 30 days of its AGM.
Accounts have to be prepared and audited by a Chartered Accountant at the end of the financial year. An audit report and audited financial statements to be filed with the Registrar are part of the audit.
These compliances are triggered on occurrence of certain events like change of registered office, change in directors, etc. Event Based Compliances details are as follows:
| EVENTS | FORM NO. | TIME LIMIT |
|---|---|---|
| Change of registered office address | INC-22 | 15 days from date of change |
| Change in Directors or KMP | DIR-12 | Within 30 days of change |
| Increase in Authorized Share Capital | SH-7 | Within 30 days of passing ordinary resolution |
| Filing of resolution & agreements | MGT-14 | Within 30 days from date of passing resolution |
| Increase in paid up share capital (Issue of security) | PAS-3 | 15 days within the date of allotment |
| Change in secured borrowings (Creation, modification and satisfaction of charge) | CHG-1 | All types of changes within 30 days |
| Application of KYC of Directors | DIR-3 KYC | On or before 30th April of the immediate FY (Annual Compliance) |
| ACTIVE (Active Company Tagging Identities and Verification) | INC-22A | On or before 25th April 2019 (Applicable to companies registered before 31st December 2017) |
| Declaration of Commencement of Business | INC-20A | Within 180 days of the date of incorporation |
This includes, among other things:
Fill in details in our customer-friendly form.
Submit required documents. Wissen takes over from here.
Required documents are verified.
Filing of the forms and required returns, your records are updated.
After filing return, receive the documents and DSCs (Digital Signature Certificates) from Wissen.
The company and every concerned officer in default shall be fined in the case of non-compliances.Penalties will keep adding up if compliances are not followed.
