ROC Full form
Contents
The ROC full form, Registrar of Companies, is an office under the Ministry of Corporate Affairs which looks after the administration, as well as, registration of companies, and Limited Liability Partnerships. As of today, there are over 22 Registrar of Companies established all over the country in the major states. The registrar of companies is so pivotal for the administration of the companies that some states such as Tamil Nadu and Maharashtra, have more than one ROC. The ROC compliances are mandated under the Companies Act, 2013. The Companies Act dictates that it is the duty of the ROC to register Private limited companies in addition to granting LLP Registration to eligible business institutions.
The ROC as the name suggests is the registry of records, identifying with the companies listed with them accessible for assessment by individuals from open on installment charge.
The Certificate of Incorporation furnished by the registrar of companies is the only way in which a company can come into existence in India once they have given the required statutory documents. The procedure to incorporate a company in the country requires the promoters of the company to furnish a bunch of documents. The extensive list of documentation consists of the following: a) Memorandum of Association (MoA). b) Articles of Association
The amended Companies Act of 2013 dictates that the Companies registered with the Registrar of Companies has to comply with the rules and regulations set by the Registrar. The major compliance with the ROC is the Annual Filing. Notwithstanding, annual return draft, revelation by directors, and refreshing the Statutory Register are additionally included within the ROC compliances. The ROC compliances a company has to adhere to are very pivotal in order to avoid prompting of any punishments and problems with the law for the company. The compliance forms are necessary to be noted with the annual returns etc. Moreover, the Service of Corporate Affairs enables you to record the forms online.
The Annual Compliance Filing is a filing mandated by the Registrar facilitated by the filing of specified forms. These filings are done under the directives of the Companies Act, 2013. These annual filings of the ROC are very vital to the operations of the company and should not be skipped under any circumstances. The aim of these compliance filings is to file the returns and asses the financial situation of the company. Monetary accounting of the company needs to be performed. The accounting needs to be done with extreme precision. You should go ahead and read more about:
Annual Compliances of Private Limited Company
Under the Annual Filing Compliances of the ROC, given below are the forms.
As soon as the Annual General Meeting is conducted, within 30 days, A Copy of the Balance Sheet has to be recorded with the ROC. If in case the AGM is not conducted, the duplicate of the balance sheet/ benefit and misfortune account has to be e-documented within 30 days from the date on which the meeting should have been conducted. In addition to this, an announcement of the reality and the reasons thereof must also be recorded alongside the balance sheet.
Where balance sheet is laid previously however not received at the AGM or the AGM was deferred without embracing the balance sheet, an announcement of the reality and reasons thereof must be documented alongside the balance sheet, and so forth inside 30 long periods of the AGM.
Annual Return form should be recorded with the ROC in an electronic mode inside 60 days from the date of holding the annual general meeting. Where the annual general meeting has not been held, the return is required to be documented inside 60 days from the date on which the annual general meeting ought to have been held
According to sec 161, the return is to be appropriately marked carefully and the imperative testaments to be joined. If there should be an occurrence of a company whose offers are recorded on a perceived stock trade; the return is to be likewise marked carefully by a secretary in entire time rehearse.
Certain companies whose paid up share capital for the year in the scope of Rs. 10 lakhs to 50 crores are required to record a Compliance Certificate in Form 66 with the accompanying provisions:
ROC can refuse to register a company on various grounds. The Memorandum of Association (MOA) which is filled with the registrar comprises of five clauses viz. name clause; objects clause; registered office clause; capital clause and liability clause. The registrar needs to ensure that no registration is allowed for companies having an objectionable name. The registrar could also decline to register any company which has unlawful objectives.
There is no end to the association of the ROC and a company. For instance, a company might require changing its name, objectives or registered office. In every such instance, a company would have to intimate the ROC after completion of the formalities.
As per the provisions contained in section 117 of the Companies Act, every resolution is required to be filed with the ROC within 30 days of being passed. The Registrar of Companies needs to record all such resolutions. The Company law has also laid down the penalty in case of failure to file the resolutions with the registrar within the stipulated time. In other words, a company is required to intimate the Registrar of Companies concerning all of its activities which includes appointing directors or managing directors, issuing prospectus, appointing sole-selling agents, or the resolution regarding voluntary winding up, etc.