In the post COVID world, where cash is the king and anything out of “important” is “unnecessary”, having an efficient Company Secretary (CS) who understand the industry in and out and knows exactly where your business fits in that industry and the kind of market your organisation caters and who can accordingly manoeuver all the internal and external operations in a flexible and impeccable manner is like having a bottle full of chilled water in a burning desert, that is, highly desirable and crucial for survival.
Below, we have answered a few common queries entrepreneurs ask us as a company practicing in the domain of secretarial practice for past 8 years with the aim of showing how we serve our clients and what we bring on table for our potential clients.
Mandatory Board Meetings for Pvt. Ltd. Companies
As per Section 173 of the Companies Act, the very first meeting of the Board of Directors should take place within 30 days of its incorporation (60 days for certain specific IFSC private companies). Afterwards, a minimum of 4 board meetings needs to be conducted annually with a gap not exceeding 120 days. For a non profit company, one-person company, small company, dormant company or a startup private limited company, it is one board meeting in each half of the year.
Ways to Raise Funds in a Company
There are ample scope for startup companies to raise capital in their business by various methods like crowdfunding, bootstrapping, applying for a loan from banks or NBFCs, approaching angel investors or seeking venture capital are few of them. There are various initiatives rolled out by the government like Atmanirbhar Bharat and Startup India to avail economical finance to startups and subsidise their operations, so one needs to keep those benefits into consideration as well.
Though the way best suited for your company depends upon the visions and mission of the founders, like to what degree they are ready to dilute the control of the business, what are their diversification and expansion plans and also on some external factors like what is the level of competition prevailing in the market, what’s the size of the target market, what’s the revenue prognosis for the initial years, etc.
Compliances for a Registered Company
If you are a company registered with the Ministry of Corporate Affairs, there are annual compliances such as Annual Return Filing, Statutory Audit, Director KYC Updation, MSME declarations and n-number of event based compliances yearly.
We are a confluence of CAs and CSes having a dedicated team of professionals for each kind of secretarial requirement for all the forms of organisations. We have an experience of ensuring all secretarial compliances for complex transactions such as private placements, handling ESOPs, Charge creation etc.
We have 8+ years of experience in the domains of finance, accounting, taxation, legal compliances, secretarial practices and we provide holistic and efficient solutions to all the things your business can possibly ask for and our international clientele gives us better exposure and a comprehensive perspective of industry to keep your company on the toes with market trends.
To know more about how we will implement our optimum and innovative secretarial solutions in your organization give us a call on 7727887799 (also available on WhatsApp) or drop us an email containing your business requirements at firstname.lastname@example.org and our team will reach out to you within 2 hours.
We had a fabulous experience … the responsiveness and professionalism were all that we could expect and more !
– Ayush Goenka,CEO, Soxytoes
We offer Secretarial compliance services, along with providing a range of other services to take full accountability as the virtual CFO to your business.
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