First Board Meeting of the Company

After a Company got registered and receipt of the Certificate of incorporation from MCA, the next step is conduct a board meeting, within 30 days from the date of Registration, Company Director has to call for 1^st Board meeting to discuss and decide on the below matters. This is with Reference to Co. Act, 2013 Section 173(1)

For example, if your company has got registered on 10th September, 2021, then within 30 days means, 09^th October, 2021, the first Board meeting shall be held on or before 09^th October, 2021.

The meeting of the Company shall be regulated by provisions of the Companies Act, 2013, read with Secretarial Standard -1 (SS-1), issued by ICSI.

For more about company compliance, kindly read the post compliance.

Provisions about the meetings:

1.       Companies Act, 2013, Section 173 (1). , says, every company shall hold it’s first board of directors meeting within 30 days from the date of Registration of the Company.

2.       Secretarial Standard -1, as issued by ICSI, specified the standard procedure for conduct of the meetings. to conduct  meeting, all companies (except OPC and section 8 company), shall follow the given standard procedures and the agenda as follows:

3.       Agenda in the 1^st Board meeting Company.

1.       To appoint the Chairman of the Meeting.

2.       Election of Chairman

3.       To grant leave of absence, if any.

4.       To take note of Quorum of Meeting.

5.       To take note of the Certificate of Incorporation

6.       To take note of the Memorandum and Articles of Association of the company, as registered.

7.       To take note of the Bank account and Registrations or status of Registrations that have been received – PAN,  TAN, GST,  ESIC,  EPFO, PT, etc. on filing of Spice+ form

8.       To take note of the appointment of the first Directors of the Company

9.       To take note of Notices / Declarations Received from Directors under various sections of the Companies Act, 2013.

10.   To take note of the Registered Office of the Company of the company and ratify the registered document of the title of the premises of the registered office in the name of the company or a Notarized copy of lease / rent agreement in the name of the company.

11.   To Authorize a person to record the proceeding of Board and General Meetings. (as per SS-1 and SS-2)

12.   To authorize a director of a Company to certify and circulate certified copy of Board Minutes. (as per SS-1)

13.   Affixing of Name Plate outside the Registered Office premises

14.   Adoption of Letter Head of the Company

15.   Adoption of Common Seal already made or Authority to get Common Seal made

16.   Adoption of Share Certificates already printed or Authority to get share certificates printed

17.   Authority to sign Share Certificates

18.   Allotment of Shares to the First Subscribers (if Share certificates are printed and adopted)

19.   To approve and ratify preliminary expenses and preliminary agreements.

20.   To take note of Financial year of the Company

21.   Appointment of First statutory Auditor

22.   Resolutions u/s 179 of the Companies act, 2013

23.   Authorities to be given to Directors under various sections. Ex: affixing of DSC, statutory registers/books, authority u/s 21 of the Companies Act, 2013 etc.

24.   Directors’ Sitting Fees if any to be decided

25.   To discuss any other matter with the permission of the chair and with the majority of the Directors present.

Apart from above given agenda, if any additional items or details may be included depending upon the nature of the Company, if any items are missing can be added as part of Agenda under line number 26, 27  etc.

The Agenda of the meeting has to be accompanied with notes to Agenda, the standard drafts of the notes to agenda can be downloaded below given linkes

Draft notice, Agenda & Notes to Agenda for 1^st Board meeting

Or

Draft notices, Agenda & notes to Agenda – 1^st Board of Directors meeting through Video conferencing