First Board Meeting Minutes — Format for a Newly Incorporated Company
A ready format for the minutes of the first meeting of the Board of Directors, to be held within 30 days of incorporation under Section 173(1) of the Companies Act, 2013. Covers the first auditor, bank account, disclosures, share certificates and commencement of business. Download the editable Word file or the fillable PDF.
When is the first board meeting held?
Every company must hold the first meeting of its Board of Directors within 30 days of the date of incorporation, as required by Section 173(1). Thereafter a company must hold at least four board meetings a year (two for a small company or OPC), with a gap of not more than 120 days between two consecutive meetings. Notice of not less than seven days must be given, and this being the first meeting, it is numbered Meeting No. 1 under Secretarial Standard SS-1 (revised, effective 1 April 2024).
Business usually transacted at the first board meeting
| Item | What the Board does |
|---|---|
| Chairman & quorum | Elect the Chairman of the meeting and confirm the quorum. |
| Certificate of Incorporation | Take the Certificate of Incorporation and CIN on record. |
| Registered office | Note the situation of the registered office; file INC-22 within 30 days if not intimated in SPICe+. |
| First Auditor (s.139(6)) | Appoint the first auditor to hold office till the first AGM; authorise filing of ADT-1 within 15 days. |
| Disclosures | Take MBP-1 (s.184) and DIR-8 (s.164) from each director on record. |
| Bank account | Resolve to open a current account and authorise the signatories. |
| Common seal | Decide whether to have a common seal (optional since the 2015 amendment). |
| Share certificates | Authorise issue of share certificates to subscribers within 60 days. |
| Commencement of business | Authorise filing of INC-20A within 180 days, after the subscription money is received. |
| Registrations | Authorise PAN, TAN, GST, DSC and other registrations. |
First auditor — the key first-meeting action
Under Section 139(6), the Board must appoint the first auditor within 30 days of registration. If the Board fails to do so, the members appoint the first auditor at an extraordinary general meeting within 90 days. The first auditor holds office until the conclusion of the first Annual General Meeting. The appointment intimation in Form ADT-1 should be filed within 15 days — this now applies to the first auditor as well.
Related templates & tools
First Board Meeting – FAQs
When must the first board meeting be held?
Within 30 days of the date of incorporation, under Section 173(1) of the Companies Act, 2013.
Who appoints the first auditor?
The Board, within 30 days of registration. If it fails, the members appoint the first auditor at an EGM within 90 days. The first auditor holds office until the first AGM.
Is a common seal compulsory?
No. Since the Companies (Amendment) Act, 2015 a common seal is optional; where a company has none, documents can be signed by two directors or one director and the company secretary.
What are MBP-1 and DIR-8 at the first meeting?
MBP-1 is each director’s disclosure of interest under Section 184; DIR-8 is the declaration of non-disqualification under Section 164. Both are given to the company and taken on record.
When is INC-20A filed?
The declaration of commencement of business in Form INC-20A is filed within 180 days of incorporation, after the subscribers pay their subscription money.
My Cloud Accountant handles your first board meeting, first auditor appointment, INC-20A and the full post-incorporation compliance, and keeps your minutes and registers in order. Talk to us »
Format current as of July 2026. General information only, not legal advice.