Corporate Affairs and ROC Compliance
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All companies registered in India like private limited company, one person company, limited company, and section 8 company must file MCA annual return and income tax return each year. Before filing annual return, the company must conduct an Annual General Meeting at the end of each financial year. In India, normally the financial year starts on April 1st and end on 31st March. So a Company’s annual return would be due on or before September 30th.
Compliances play a vital role in success of any entity; there are so many event base, quarterly, half yearly and yearly compliances, shall comply by an entity, and if an entity doesn’t comply applicable laws then there is an adverse effect on entity and entities cannot take an excuse of “Ignorance of Law” because “Ignorance of Law is not an Excuse”. For solving such kind of problem we provide Compliance Management Services to our clients.
Commencement of Business Certificate
The commencement of business certificate must be obtained within 180 days of incorporation of the company. While filing the application for commencement, each of the Directors of the company must declare that every subscriber to the memorandum has paid the value of the shares agreed to be taken by him/her on the date of the making of such declaration. Any company that does not obtain commencement of business certificate within 180 days of incorporation will be liable for payment of a penalty of Rs.50,000.
Director KYC
Every director of a private limited company has to submit their updated residential address, current mobile number, and email address to the ROC in form DIR-3(KYC). The filing of directors KYC is mandatory for every person who holds a DIN Number, and if not complied, the DIN gets deactivated. Please note that it is an entirely online process, and we are processing the orders of DIN within the same day of placing the order for filing the director’s KYC.
Appointment of Auditor
Form ADT-1 is prescribed eform for filing intimation about appointments or changes in the auditor of the company. The annual general meetings are held to conduct four activities, such as approval of financial statements, declaration of dividend appointment of directors, and to consider the auditor’s appointment or reappointment. Within 15 days of the conclusion of the AGM, you must file form ADT-1 with the roc. If delayed, it can be filed with an additional fee.
Annual Filing of Companies (form AOC -4)
In form AOC-4, the company files its financial statement and directors report as required under the law. This is also known as financial filing to the roc by a company. The audited balance sheet, profit, and loss account, auditor’s report, and directors report are the mandatory attachments. The due date to file the form AOC-4 is 30 days from the date on which the AGM of the company was concluded. If the filing is delayed, it can still be filed with an additional fee of Rs. 100 for each day of delay.
Annual Filing of Companies (form MGT - 7)
Form MGT-7 is the annual return of the company, which is filed within 60 days of the holding of AGM. In the annual return of the company, all the significant changes that took place in the company during the financial year are reported. Please note that it is a mandatory roc filing and applies to a company even if there is no business transaction. The details are prepared in MGT-9, which is also submitted as an attachment to MGT-7. If not filed, it will cost you Rs. 100 for each day of delay.
Annual Filing of Limited Liability Partnership (LLP)
Form 11 is an annual return to the ROC every year, wherein details of significant changes that took place in the LLP are reported to the ROC. It is mandatory even if there is no business transaction & is applicable equally to all LLP irrespective of its turnover or activities. The details of the designated partners and partners are filed as an attachment to Form 11. If not filed, it will cost you Rs. 100 for each day of delay.
Form 8 is a statement of accounts & solvency by the LLP. It is a declaration by the LLP to the ROC that the financial position of the LLP is sound and that it is capable of paying its liabilities or debts. The key particulars of the financial statement of the LLP submitted to the ROC through the filing of Form-8. Therefore it is necessary to prepare the financial report before you start filling the form 8 to the ROC.
Other ROC compliances – Our Service offerings are
- Complying with AGM documentation
- Maintenance of Minutes book and Statutory registers
- Timely issue of Share certificates
- Yearly Disclosure of Interest by Directors
- ROC Filing for Event based compliances as given below
- Issue or new Allotment of Shares
- Change of name and Main objects of the Company
- Appointment & Resignation of Directors
- Transfer of Shares
- Appointment of MD or CEO
- Change in the Registered Office
- Change in the Authorized Capital/ Paid-up Capital
- Drafting Resolutions for various meetings
- Changes in DIN
- Charge filings
