Thus, only those subscribers to the memorandum who are individuals shall be deemed to be the first directors of the company if the articles do not mention the names of first directors.

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Generally, the first directors are named in the articles. The general practice is that the promoters of the company select the first directors and name them in the articles.

The Department of Company Affairs (Now, Ministry of Corporate Affairs) vide DCA’s Circular No.

[section 33(1)(c)] Ø Form Nos.29 and 32 may be filed within 30 days after incorporation.

However, it is advisable to file them at the time of incorporation.

1/95 14/6/94-CL-V, dated 16 February, 1995 advised that at least one of the promoters of the company, whose names were mentioned in the application for availability of the company’s name, must be the first director of the company.

The words “who are individuals” in section 254 of the Companies Act, 1956 is in accordance with the provisions of section 253.

Appointment of First Directors of the Company “First directors” mean those directors who hold office from the date of incorporation of the company.