The First Board Meeting after Incorporation is one of the most critical mandatory compliances for any newly\u2002incorporated company in India. It is not a ritual but the beginning of corporate governance, statutory compliance and business operations of\u2002the company. Under the provisions of the Companies Act, 2013, all companies (viz. Private Limited Company, Public Company, One Person\u2002Company, Section 8 Company etc.) are required to conduct their First Board Meeting within a specified time.<\/p>\n\n\n\n
Such resolutions shall be effective for the purpose of the initial\u2002organization of the company, its appointments, its banking powers, and other matters relating to the ability of the company to do business. Non-adherence to this statutory requirement would result in penalties, unauthorized actions and even\u2002compliance problems in future.<\/p>\n\n\n\n