Format of Minutes of First Board Meeting as per Companies Act, 2013

MINUTES OF THE FIRST BOARD MEETING OF THE BOARD OF DIRECTORS OF

_______________ PRIVATE LIMITED HELD ON ________, 20__ AT _________ AM AT
____________________, THE _______ OFFICE OF THE COMPANY

DIRECTORS PRESENT 
1.    Sh. ________
2.    Sh. ________

CHAIRMAN OF THE MEETING

Sh. __________ was unanimously elected pro-term Chairman of the Meeting till a permanent
Chairman was appointed.  He welcomed the Directors at the First Meeting of the Board of Directors.
Thereafter he ascertained the quorum, and taken that the meeting was duly convened and properly
constituted and agenda of the meeting was taken up. 
LEAVE OF ABSENCE
All the members were present; hence no leave of absence was required.

1. CERTIFICATE OF INCORPORATION  
The Certificate of Incorporation having Registration No. _________________ dated ________ and a
copy of Memorandum and Articles of Association registered with the Registrar of Companies,
________ were placed before the Board.  The Board noted the same. 

2. CONSTITUTION OF THE BOARD - APPOINTMENT OF FIRST DIRECTORS 

The Chairman informed the Board that as per Clause __ of the Articles of Association of the
Company, Sh. Raj Kumar Avasthi & Sh. Munish Avasthi  are being named as first Directors of the
Company, constitute the Board of Directors in terms of the provisions of the Companies Act, 2013.
The copy of Form No. DIR-12 filed with the Registrar of Companies, ________ was also placed before
the Board for perusal. The Board thereafter passed the following resolution: 

“RESOLVED THAT pursuant to the Clause ____ of the Articles of Association of the Company and
Form No. DIR-12 filed with the Registrar of Companies, _____ Sh. _______ & Sh. ______ constitute
the first Directors of the Board of Directors of the Company from the date of incorporation of the
Company till the conclusion of the first Annual General Meeting of the Company.” 

3. TO TAKE NOTE OF THE DISCLOSURE OF INTEREST 

The Board may take note of the general notice of disclosure received from all the Directors pursuant
to Section 184 (1), 189 (2) of the Companies Act, 2013 read with section 164(1) of the Companies
Act, 2013 indicating their Directorship, Shareholding held in other companies as on _______ in Form
MBP-1 along with general notice showing interest directly or through relative in other companies/firms
under section 184(2) of Companies Act, 2013. The copies of these Notices would be tabled at the
Meeting. The details of the all the directors from which we have received the above disclosures are
given below:

Sr. DIN Name & Father Designation Address

No. Name of the
Director
1
2

The board discussed the matter and passed the following resolution:
"RESOLVED THAT pursuant to the provisions of Section 184(1), 184(2), 189 (2) of the Companies
Act 2013, read with rule 9, rule 16 of the Companies (Meetings of Board and its Powers) Rules, 2014
the disclosure of interest received from all the Directors of the Company as placed before the Board,
be and is hereby taken on record.

FURTHER RESOLVED THAT any director of the company be and is hereby authorized to file requisite
e-forms with the appropriate authority with in such time and period as may be prescribed".
4. REGISTERED OFFICE OF THE COMPANY
A copy of form No. INC-22 relating to the Registered Office of the Company filed with the Registrar of
Companies, _______ was placed before the Board. The Board discussed the matter and passed the
following resolution: 

“RESOLVED THAT the Registered Office of the company be situated at ___________________. 

"RESOLVED FURTHER THAT a name plate containing Company’s name and address of the
Registered Office be affixed at the registered office and that the Company’s name and address of the
Registered Office be mentioned in legible characters in all business letters, bill heads, letter heads and
letter papers and in all its notice and other official publications, etc., pursuant to provisions of the
Companies Act, 2013.” 

5. FIRST AUDITORS OF THE COMPANY 

The Board discussed the appointment of its auditors of the company and unanimously passed the
following resolution.

“RESOLVED THAT M/s  __________, Chartered Accountants, Ludhiana be and are hereby appointed
as First Auditors of the company for a remuneration to be mutually settled between the Auditors and
the Board of Directors and the said Auditors shall hold this office till the conclusion of the Ist Annual
General Meeting of the Company”. 

6. ADOPTION OF COMMON SEAL   

The Chairman placed before the Board the proposed Common Seal of the Company for perusal. The
Board perused the Common Seal and after discussion passed the following resolution:

 “RESOLVED THAT the Seal as produced at this meeting be and is hereby approved and adopted as
the Common Seal of the Company and that an impression of same be affixed in the margin of the
minutes of this meeting and initialed by the Chairman.  
  
 “RESOLVED FURTHER THAT the said Common Seal be kept in the safe custody of Directors of the
Company.” 

7. FINANCIAL YEAR OF THE COMPANY  

The Board discussed the matter of fixing financial year of the Company and passed the following
resolution:

“RESOLVED THAT the first “Financial Year” of the Company be the period starting from the date of
incorporation of the Company viz [________ to 31.03.20___] both days inclusive, and the first
statement of accounts of the company shall relate to the same period. 

“RESOLVED THAT the second and subsequent “Financial Year” of the company be the period from
1st April to 31st March, in each year unless decided otherwise.” 

8. SUBSCRIBERS TO THE MEMORANDUM  

The Board was informed that following subscribers have agreed to subscribe to the equity shares of
the company as per following details: 

Sr.No Name of Subscribers Numbers of equity shares subscribed

.
 1 Sh. ________  _____ 
 2 Sh. ________ _____ 

It was informed that the company is yet to receive share application money from the subscribers. The
Board suggested that the subscribers may be approached for the subscription money and capital of
the company be made fully paid up. 
9. ISSUE OF SHARE CERTIFICATES TO THE SUBSCRIBER OF MEMORANDUM OF ASSOCIATION
OF THE COMPANY

“RESOLVED THAT _____ shares of Rs. ___ each be issued to the following persons, who have
subscribed to the Memorandum of Association of the Company as detailed below: -
1. Sh. _________
2. Sh. _________

“FURTHER RESOLVED THAT the share certificates to the above named subscriber to the
memorandum of association of the company be issued under the common seal of the company and
that Sh. _____ and Sh. _________, Directors of the company be and are hereby authorized to sign
the said share certificates.”  

10. PRELIMINARY EXPENSES   
Mr. ____________ placed before the Board a Statement showing the preliminary expenses incurred
towards the formation of the company for approval.

“RESOLVED that the preliminary expenses amounting to Rs. ________/- expended by the promoters
of the company in connection with the incorporation of the company as per the statement placed
before the meeting be and are hereby approved.”

Detail of Preliminary Expenses is: 

S. No. PARTICULARS AMOUMT
1 NAME APPROVAL FEE
2 REGISTRATION FEES AND FILINGS FEES
3 PROFESSIONAL FEES
4 PRINTING OF MEMORANDUM AND
ARTICLES OF ASSOCIATION
5 Miscellaneous Expenses (Stamp Duty)
6 Any Other
                                       TOTAL

11. OBTAINING OF COMMENCEMENT CERTIFICATE

It was unanimously:

“RESOLVED THAT necessary documents be filled with the registrar of Companies (________) for
obtaining certificate of commencement of business”.
FURTHER RESOLVED THAT Mr. ________, Director of the company be and is hereby authorized to
sign necessary papers and documents to be filled with the registrar of companies (________).”

12. TO OPENING OF BANK ACCOUNT WITH STATE BANK OF PATIALA

RESOLVED THAT a bank account for the Company be opened with the State Bank of Patiala, and that
the said bank be and is hereby authorised to honour cheques, bills of exchange and promissory notes
drawn, accepted or made on behalf of the company severally by Sh. ________ & Sh. __________,
Directors of the company and to act on any instructions so given related to the account, whether the
same be overdrawn or not, or relating to the transactions of the Company.”

13. TO APPLY FOR COMPANY PAN CARD OF THE COMPANY

It was informed to the board the company may apply for PAN Card with Income tax Department. The
board discussed the matter and passed the following resolution:
Resolved that Sh. ________, Director of the company be and is hereby authorised to apply for the
company PAN with Income Tax Department and to sign the necessary documents, forms etc as
required for application of PAN.
14. AUTHORISATION OF FILLING OF VARIOUS E-FORMS UNDER COMPANIES ACT, 2013
Proposal:
The Chairman informed the members of the Board that the various provisions of the Companies Act,
2013 are already come into force and Ministry of Company Affairs, Government of India has launched
various new forms/e-forms which are required to be filed under Companies Act, 2013 through portal
of Ministry i.e. www.mca.gov.in.  To meet the various requirements of e-filing, the board have to
authorise the directors to fulfil the various requirements under e-filing.  Members of the Board
considered the matter and passed the following resolution:

Resolution Passed:
“Resolved that any directors of the company be and is hereby severally authorised to sign the
necessary documents on behalf of the company for electronic filing of documents under The
Companies Act, 2013 and various rules made thereunder.”

15. DIRECTORS FEE 
The Chairman placed before the Board the matter regarding payment of fee to Directors for attending
the meeting of the Board of Directors. The Board discussed the matter in detail and decided that no
fee, traveling or such other expenses shall be paid to any Directors for attending the meeting of the
Board of Directors for the time being. Thereafter the Board passed the following resolution: 

“RESOLVED THAT no fee, travelling or such expenses shall be paid to any Director for attending the
meeting of the Board of Directors or of a Sub-committee thereof, till such time the Board determines
otherwise.” 

16. ADMIN OFFICE OF THE COMPANY

It was informed to the board that directors of the company are residing in the city of ________ and
for the smooth running of business of the company there must be one admin office of the company in
__________ for receiving of documents, letters from government authorities, banks, financial
institutions etc. The board discussed the matter and passed the following resolution:
“RESOLVED THAT the Admin Office of the company be situated at __________________”.

17. VOTE OF THANKS  
There being no other business to transact, the meeting concluded with a vote of thanks to the
chair.      
  

Dated:________                                                                                                       CHAIRMAN