How to Register Private limited Company in Delhi

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COMPLIANCES OF PRIVATE COMPANY

• COMPANIES ACT 2013

1 Day Company Inc
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SECTION 88 REGISTER OF MEMBERS

• Every company shall maintain a register of
  members in form MGT-1.
• Maintenance of index is not necessary if number
  of members are less than 50.
• Company shall file notice to registrar in form
  MGT-3 for situation of the office for keeping
  register of foreign members.
• Form MGT-3 shall be file within 30 days of
  opening of register or change of situation of
  office
• If company does not or fails to maintain register
  of members accordingly, company every officer -
  Rs.50,000 to Rs.3,00,000, continuing failure -
  Rs.1000 per day

1 Day Company Inc
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SECTION 92 ANNUAL RETURN

• Company shall prepare annual return in form MGT-7
• Extract of annual return to be attached with
  board's report in form MGT-9
• Annual return shall be certified by PCS in form
  MGT-8 (if paid up capital is Rs.10 crore or more
  turnover is Rs.50 crore or more)
• Company shall file a copy of annual return with
  the ROC within 60 days of AGM
• Company fails to file annual return before the
  expiry period, company - Rs.50,000 to Rs.5,00,000
  , officer in default - Rs.50,000 to Rs.5,00,000
  or imprisonment of 6 month or with both, PCS who
  does not certify annual return accordingly -
  Rs.50,000 to Rs.5,00,000

1 Day Company Inc
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SECTION 96 ANNUAL GENERAL MEETING

• AGM shall be called during business hours ( 9 a.m
  to 6 p.m) on any day except national holiday at
  the registered office of the company.
• AGM shall be held within 6 month of closing of
  financial year and 9 months of first AGM.
• Due date of AGM can be extended for 3 months for
  any special cause.
• If any default in holding a meeting of the
  company, company and every officer - fine may be
  extend to Rs.1,00,000 , continuing default -
  Rs.5000 per day

1 Day Company Inc
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SECTION 101 NOTICE OF MEETING

• Notice of meeting shall be given to every member,
  auditor or director of the company.
• It shall be given 21 clear days before the
  meeting.
• Shorter notice can be also given with 95 consent
  of members.

1 Day Company Inc
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SECTION 118 MINUTES OF MEETING

• Minutes of meeting shall contain fair correct
  summary of proceedings of every meeting.
• Minutes of board meeting shall be preserved
  permanently.
• Minutes shall be recorded within 30 days of AGM.
• Every page of minutes of meeting shall be signed
  by
• Board meeting's minutes - chairman of next
  succeeding meeting.
• Minutes of AGM - chairman of same meeting.
• Resolution by postal ballot - chairman of the
  board.
• any default is made in complying with the
  provisions, company - Rs.25,000 officer in
  default - Rs.5,000. If any person tampering with
  the minutes - Rs.25,000 to Rs.1,00,000 or
  imprisonment extend to 2 years

1 Day Company Inc
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SECTION 128 BOOKS OF ACCOUNT TO BE KEPT BY COMPANY

• Company shall file a notice to registrar in
  writing giving the full address of that place.
• Books of accounts shall be preserved for 8 years
  together with the vouchers.
• Notice to registrar shall be given within 7 days.
• Company shall produce financial information to
  the director on written request within 15 days.
• Contravention of provisions, MD, WTD in charge of
  finance, CFO - Rs.50,000 to Rs.5,00,000 ,
  imprisonment may extend to 1 year or both

1 Day Company Inc
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SECTION 129 FINANCIAL STATEMENTS

• Statement containing financial statement of
  subsidiary in form AOC-1.
• Contravention of provisions, MD, WTD in charge of
  finance, CFO (In absence of these officers, all
  the directors) - Rs.50,000 to Rs.5,00,000 ,
  imprisonment may extend to 1 year or both

1 Day Company Inc
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SECTION 134 FINACIAL STATEMENTS, BOARD REPORTS

• Financial statement shall contain auditor report,
  board report, consolidated financial statement
  (if any).
• Board report shall contain-
• Extract of the annual return, number of board
  meetings, details of fraud reported by auditors,
  directors Responsibility Statement, independent
  director's statement on companys policy on
  directors appointment and remuneration,
  explanations or comments by the Board on every
  remark or disclaimer made by auditor, particulars
  of loan, particulars of contracts or arrangements
  with related parties, companys state of affairs,
  proposes amount carry to any reserves, dividend
  amount, material changes during the financial
  year, the conservation of energy, technology
  absorption, foreign exchange earnings and outgo,
  statement of risk management policy, policy on
  corporate social responsibility, a statement of
  formal annual evaluation of Board performance
• Contravention of this section, company -
  Rs.50,000 to Rs.25,00,000 , officer in default
  -Rs.50,000 to Rs.5,00,000 or imprisonment can be
  extend to 3 years or with both

1 Day Company Inc
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SECTION 137 COPY OF FINANCIAL STATEMENT TO BE
FILED WITH THE REGISTRAR

• Company shall file financial statement to the
  registrar in form AOC-4 within 30 days of AGM.
• If company fails to file the copy of financial
  statement before the expiry period, company -
  Rs.1,000 for every day to Rs.3,00,000 (failure
  continue) , MD,CFO or authority director in
  absence of MD, CFO -Rs.1,00,000 to Rs.5,00,000 or
  imprisonment may extend to 6 months or both

1 Day Company Inc
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SECTION 139 APPOINTMENT OF AUDITORS

• Auditor shall be appointed for 5 years within 1
  month of incorporation and ADT-1 shall be filed.
• Ratification shall be through ordinary resolution
  in every year.
• Appointed auditor shall submit a certificate of
  his eligibility.
• Contravention of provision, company - Rs.25,000
  to Rs.5,00,000 , officer in default - Rs.10,000
  to Rs.1,00,000 or imprisonment may extend to one
  year or both. AUDITOR - Rs.25,000 to Rs.5,00,000
  , AUDITOR knowingly deceive - Rs.1,00,000 to
  Rs.25,00,000 or imprisonment may extend to one
  year or with both. Auditor shall refund
  remuneration pay for damages to the company

1 Day Company Inc
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SECTION 152 APPOINTMENT OF DIRECTORS

• Proposed director shall give his consent in form
  DIR-2.
• Company shall file such consent in form DIR-12
  within 30 days of appointment.
• contravention of provision, director - fine may
  extend to Rs.50,000 or imprisonment may extend to
  6 months, continuing contravention - fine may
  extend to Rs.500 per day

1 Day Company Inc
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SECTION 173 BOARD MEETINGS

• Board meeting shall be called with the notice of
  not less than 7 days to every director.
• Shorter notice can be given if at least one
  independent director shall be present.
• Board meeting shall be held within 30 days of
  incorporation.
• Board meeting will be conducted 4 times in every
  year.
• Officer fails to do give notice of board meeting
  accordingly - Rs.25,000

1 Day Company Inc
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SUMMARY

• Every company shall maintain a register of
  members accordingly.
• Company shall file a copy of annual return with
  the ROC within 60 days of AGM.
• AGM shall be conducted once in every year.
• Notice of meeting shall be given 21 clear days
  before the AGM.
• Company shall record minutes of every meeting.
• Books of accounts shall be preserved for 8 years
  together with the vouchers at registered place.
• Financial statement board report shall be made
  by company accordingly.
• Company shall file financial statement to the
  registrar within 30 days of AGM.
• Auditor shall be appointed within 1 month of
  incorporation.
• Director shall be appointed in the company.
• Board meeting will be conducted 4 times in every
  year with the notice of not less than 7 days to
  every director.

1 Day Company Inc
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THANK YOU
1 Day Company Inc