The first board meeting is to be held within 30 days of incorporation of the company. Some of the topics includes “How to hold a meeting of your board of directors of a company which is not a one person company or small or dormant company. The following transactions take place in that meeting and the agenda accompanying the notice contains reference of all these transactions. Here we can see about wish to hold first board meeting.
wish to hold first board meeting ?
(a) Election of the chairman of that particular meeting.
(b) Appointment of chairman of the board of directors.
(c) Noting of certificate of incorporation of your company before the board.
(d) Noting of the memorandum and articles of your company as registered.
(e) Noting of first directors of the company by noting a copy of the filing of consent by your company’s directors named in the articles.
(f) if applicable, appointment a secretary of the company, .
(g) The engagement of first auditors who are to hold office until the conclusion of the first Annual General Meeting.
(h) Affecting of a common seal, if the company proposes to have a common seal.
(i) production of a copy of the notice of the situation of the registered office of your company in e-form INC-22 corresponding to e-Form No.18.
(j) Opening of a bank account.
(k) Allotment of shares agreed to be taken by the subscribers to the Memorandum.
(l) Approving the statement of preliminary expenses expended by the promoters.
(m) Adoption of preliminary contracts.
(n) Give direction to the secretary to purchase books and registers.
(o) Authorising the board to take loans.
(p) Authorising the board to make investments.
(q) Deciding the date, time and place of the next board meeting.
(r) Noting of disclosure of interest of directors.
(t) Authorise printing of share certificates and issuance of share certificates.
In addition to the above items of business your company can have another item on appointment of additional directors.
The notice issued to directors to convene the first board meeting must mention that it is the first board meeting of the company.
If the Articles of Association of a company provide for holding of board meetings at specified hour on a specified day or dates of particular months viz 2nd April, July, October and January, notice of such meetings will still need to be given.
Note the following :
(a) the first board meeting is held within a month of the company registration.
(b) If your company is a private limited company which is a subsidiary of a public limited company. It will be managed as a public company.