There are few simple steps for Appointment of Directors:
The Board within 30 days from the date of incorporation of the Company, shall appoint the first auditor of the Company who shall hold office of the statutory auditor from the conclusion of that Board Meeting till the conclusion of First AGM of the Company and is liable to sign the Financial statement for the First Financial Year of the Company.
The appointment of first auditor is governed through section 139(6) which starts with a non-obstante clause [notwithstanding anything contained in sub-section (1)] and it is sub-section (1) which requires obtaining consent & certificate from auditor and filing of form ADT-1 with ROC.
As per Section 139 of the Companies act, 2013 and rules made thereunder, Every Company shall appoint the statutory auditor of the Company in its First Annual General Meeting (“AGM”) who shall hold the office of auditor for a period of five years from the conclusion of that AGM until the conclusion of following Sixth AGM of the Company.
The company shall file a notice in e-form ADT 1, along with the prescribed fee, of such appointment with the Registrar of Companies within fifteen days of the meeting in which the auditor is appointed.
Example, if the company’s AGM was held on 30 September 201X, then Form ADT 1 has to be filed by 15 October 201X.
IEC Stands for Importer Exporter code which is a 10 digit number issued by Director General of Foreign Trade, Department of Commerce, Government of India. It is a registration required for traders importing or exporting goods and services to or from India.
Import Export Code number is a proof of a firm as an Exporter/Importer in India. IE code can be submitted with government authorities as a proof of trade to obtain various benefits on their exports / imports from DGFT, customs etc.