ROC or MCA Compliances:
ROC stands for Registrar of Companies which is an office under the Indian Ministry of corporate affairs (MCA), that deals with the administration of the Companies Act, 2013. ROC has been appointed under section 609 of the Companies Act 2013. States and Union Territories are vested with the primary duty of registering companies and LLPs floating in the respective states and the Union Territories and ensuring that such companies and LLPs comply with statutory requirements under the Act. The office of ROC functions as registry records, related to the companies registered with them, which are available for inspection by members of public on payment of the prescribed fee.
Documents required to be filed with the ROC every year:
For a Company:
1. Form MGT-7- Annual Return: Details with respect to shareholding, company details, indebtness, promoters details, fines and penalties on the governemnt etc are required to be mentioned as a part of this form.
2. Form AOC-4 – Financial Statements & Other Documents: Mostly all companies file its financial statements and relevant attachments using Form AOC-4 each year. If the financial statements of the company are not adopted in an Annual General Meeting then un-adopted financial statements should be filed within 30 days of the date of AGM. On the other hand, if the financial statements are adopted by the company then the adopted financial statements must be filed within 30 days of the AGM. Apart from this, if the company needs to revise the financial statement or Board’s report then revised financial statements can also be filed using form AOC-4.
3. Other forms: Other forms are required to be filed with ROC on case to case basis such as change in directorships, change in registered office address etc
For a LLP:
1. Form 8: Statement of Account & Solvency, to be filed by 30th October of the subsequent year
2. Form 11: Annual Returns, to be filed by May 30th of the subsequent year.
3. Other forms: On case to case basis
Apart from the above, various other requirements are required to be fulfilled as per the Companies Act Compliances which falls under the purview of ROC and MCA compliances, such as:
1. Board Meeting and maintenance of their minutes
2. Annual General Meeting and maintenance of their minutes
3. General Meetings and maintenance of their minutes
4. Statutory registers such as register of charges, register of shareholders, register of members etc.
5. DIR 2 and MBP 1 of the directors
6. KYC of the directors
7. KYC of the registered office of the company (ACTIVE Compliant)
8. Certificate of Commencement of Business
9. Compliances for qualification and disqualification of directors
10. Appointment of auditors
Benefits of Regular ROC Compliance
A. Save Penalty: Filling of Forms on time for regular compliances and special compliances saves heavy penalty of upto 12 times of normal fee.
B. Safe from Strike Off: Regular annual compliance safeguard you from action now a days taking by ROC to strike off companies who have not file annual compliance for last 2 years and consequently safe guard Directors disqualification from other companies and legal penal provisions under companies act 2013. Restoration/ Activation of Company name cost Lakhs to the company.
C. Maintaining Company status Active: Regular compliance helps to main company status active on ROC portal and up to date. Which helps company in many business activities like, applying for finance, tender, third party inspection, etc.
D. Comply Legal Provision: Maintaining upto date Minutes, Statutory Register, Board Resolutions, Issue share certificate on time and Stamping of Share Certificates is basic requirement for a company to keep upto date as per company act and rules.
Reach out to us for getting your compliances done and be compliant with the law.