ROC Annual Compliance Package

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Every Company incorporated in India must comply with ongoing government rules and regulations after incorporation.  A Public and Private Limited Company is required to comply with the various laws and provisions under companies Act 2013 and rules made there under. Registrar of Companies ROC is the designated authority that deals with administration of Companies Act 2013 and it falls under Ministry of Corporate Affairs. All Companies incorporated under the Companies Act 1956/ 2013 are mandatorily required to file various forms, returns and documents with the Registrar of Companies (ROC) in an electronic mode within the prescribed time along with the prescribed fees. They are also required to maintain various registers, documents, minutes, etc. Companies can face heavy fines, penalties, and prosecutions, if proper documents, registers, and returns are not maintained and filed in time.

Some of the Mandatory Compliance for Private Limited Company:

1. Drafting of Minutes of the Meeting:

Minimum of four Board meetings has to be conducted by a Private Limited Company in a calendar year. The Minutes should be properly recorded and maintained in Minutes Book and Chairperson of the Meeting has to sign the Minute Sheets regularly.

2. Maintaining Statutory Registers:

Statutory Registers such as Register of Directors, Register of Members, Register of Shares, Register of Charges, Register of Loans Investment and Guarantee, Register of Contracts with Related Party, etc has to be recorded and maintained duly.

3. Appointment of Statutory Auditor:

Post –Incorporation within 30 days, the company has to appoint a Statutory Auditor in their first Board Meeting. Once the auditor is appointed, immediately it has to be intimated to the ROC by filing an e-form ADT-1. This is very important and should be followed by all Private Limited Company.

4. Convening Annual General Meeting:

AGM is a shareholder meeting which should be held once in every year. For newly incorporated companies the AGM has to be conducted within 18 months from the date of incorporation and for an existing Private Limited Companies it should be within 15 months from the date of previous AGM.

5. Annual Filing and Annual Return:

Every year after the end of financial year, all Private Limited Companies has to close their books of accounts and should prepare the necessary financial statements such as Balance Sheet, Profit & Loss Account, Notes to Accounts, etc. These financial statements have to be submitted to RoC, by filing necessary forms.

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