As soon as the company is incorporated, it becomes a juristic person. It has its own separate legal entity which is separate from its members who incorporate it.
As company is an artificial person it makes its work done through directors of the company. The directors hold a fiduciary position in the company. As on the one hand they are act as owners of the company and on the other they work merely as servants of the company for which they take remuneration for.
Any action done by the director in the course of business is considered to be done by the company.
- As the very first step to be done after incorporating is to held first board meeting within 30 days of incorporation according to section 173(1) of companies Act, 2013.
- Issue NOTICE OF MEETING at least 7 days before the meeting to be held as per section 173(3), along with the AGENDA OF MEETING in notice.
- Specimen Notice of First Board Meeting: ⇒ click Here
- Specimen Agenda of First Board Meeting: ⇒click Here