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Congratulations on Forming your Private Limited Company! These are the things which you need to do next: -
1) Hold the First Board Meeting: - A Private Limited Company needs to hold its First Board Meeting within one month of Incorporation. Therefore, you need to send out notices to your First Directors informing them of a Board Meeting. A lot of Business is to be conducted in the First Board meeting.
2) Appointment of First Auditors:- The First Auditors are appointed by the Board of Directors during the First Board Meeting of the Company. The appointment has to be done within 30 days of the incorporation of the Company. The First Auditor of the Company holds office from the Date of Incorporation to the date of the First Annual General Meeting of the Company.
3) Opening of Bank Account of the Company: - It is advisable to pass a resolution for Opening of a Bank account in the First Board meeting of the Company. All banks have pre-set formats of the Resolutions required to be passed and they can be easily obtained. Opting for a Bank that offers prompt services along with the facility to pay all kinds of Taxes online is recommended. Keep in mind that maintaining good relations with the Bank could help you obtain credit facilities in the future.
4) Printing of Share Certificates, MOA and AOA: - We come across a lot of Private Companies who never issue share certificates to their Shareholders. It is of utmost importance to do so. Furthermore, it is not mandatory (but recommended) to print the Memorandum of Association (MOA) and Articles of Association (AOA) of the Company as they are required for almost everything. Right from opening your Bank account to vendor registrations, you need your MOA and AOA. It is therefore a good practice to print MOAs and AOAs and keeping them handy.
5) Getting your Common Seal and Company stamps made:- The common seal is used on many official documents like the Share certificates of the Company. However, making a common seal is not obligatory anymore. Thus, you will have to read your AOA to ascertain it. You also need to make Company Stamps which are affixed on EVERY official document of the Company.
6) Displaying the name of your Company: - You have to display the Company's name and the address of the Registered Office of the Company at every place of Business or Office of your Company. You must also display the Name and address in the language which is locally used in the area/locality in which you're Office is situated.
