General, Annual & Event Based Compliances as Per Companies Act, 2013

In today’s article we will discuss about the Compliances of Companies Act, 2013 for the F.Y. 2021-22 . I have divided all the compliances on annual basis & event basis i.e. there are some compliances which are required to be fulfilled on annual basis and some are event based and depend upon the need of every company. So. here is a brief list of all complinaces which are to be very helpful for the F.Y. 2021-22.

Annual ROC Compliances of Private Ltd. Co. for the F.Y. 2021-22

General Compliances as per Companies Act,2013

1. Board Meetings

A. Every company shall hold its first board meeting within 30 days from the date of incorporation. After the first board meeting,every company shall hold minimum four board meetings in a calendar year.

B. In holding board meetings during the year, there shall not be more than 120 days gap between two consecutive board meeings.

C. Every Director of the Company in First Meeting of the Board of Director in each Financial Year shall disclose his interest in other entities.(Disclosure of Directors Interest by Directors) in form MBP-1.

Note: A One Person Company, small company, dormant company and a private company (if such private company is a start-up) shall be deemed to have complied with the provisions of this section if at least one meeting of the Board of Directors has been conducted in each half of a calendar year and the gap between the two meetings is not less than ninety days: – Notification Dated 13th June, 2017

2. Annual General Meeting (AGM)

Every Company shall hold its Annual general Meeting (AGM) within six months form the end of the F.Y.As per this the AGM is to be held till 30th september,2022 for the F.Y. 2021-22.

3. Extraordinary General Meeting   (EGM)

The Board may, whenever it deems fit, call an extraordinary general meeting to deal with urgent matters that come up between annual shareholders’ meetings.An extraordinary general meeting (EGM) is a shareholder meeting called other than a company’s scheduled Annual General Meeting (AGM) among the company’s shareholders, executives and any other members.

4. Signing of the Balance sheet/ Financial statement

A company is required to adopt the Financial Statement in the Annual General meeting. Due date of Annual General Meeting is 6 months from the end of the financial year i.e. 30th September. Therefore, one can opine that the due date of holding of the Board Meeting for the approval of the Financial Statement is on or before 30th September in case the financial year ends on March 31.Date of signing of the Balance sheet shall be any date on or after the date of Board Meeting in which the Financial Statement are approved by the Board of Directors.

5. Secretarial Audit

Every listed company and the below mentioned companies shall annex with its Board’s report made in terms of sub-section (3) of section 134, a secretarial audit report, given by a company secretary in practice.The Format of the secretarial Audit Report shall be in form no. MR.3

(a) Every public company having a paid-up share capital of fifty crore rupees or more; or

(b) Every public company having a turnover of two hundred fifty crore rupees or more; [or]

(c) every company having outstanding loans or borrowings from banks or public financial institutions of one hundred crore rupees or more.]

6.Reconciliation of Share Capital Report (PAS-6)

Every Public Company is required to submit reconciliation share capital report with ROC audited by a practicing company secretary

Form PAS-6 is a half-yearly form that the unlisted public companies must file with the ROC within 60 days from the conclusion of the half-year. Below are the due dates for filing Form PAS-6:

Due Date

Period for which Form PAS-6 is filed

29th November

For April-September period

30th May

For October-March period

7. Statutory Registers to be maintained

The Companies Act, 2013 has specified a list of registers that the companies are required to maintain. These registers are as under:

Register of Members (MGT-1)

Register of Debenture Holders or any other security holders (MGT-2)

Foreign Register (MGT-3)

Register of Directors and KMP

Register of renewed or duplicate share certificates (SH-2)

Register of Sweat Equity Shares (SH-3)

Register of ESOP (SH-6)

Register of shares and other securities that have been bought back (SH-10)

Register of Charge (CHG-7)

Register of loan/ guarantee/ security given or acquisition of securities (MBP-2)

Register of investment of the company not held in its name (MBP-3)

Register of Contracts and Arrangements in which Directors are interested (MBP-4)

8. Corporate Social Responsibility.

Every company having net worth of rupees five hundred crore or more, or turnover of rupees one thousand crore or more or a net profit of rupees five crore or more during the immediately preceding financial year Shall furnish a report on its Corporate Social Responsibility in the form CSR -2 to the Registrar of Companies for the preceding financial year 2020-2021 and onwards as an addendum to Form AOC 4.

9. Disclosure of Non- Disqualification by Directors

Every Director of the Company will file with the Company disclosure of non-disqual-ification.(Disclosure of Non- Disqualification by Directors) in form DIR-8 before he is appointed or re-appointed.

10. Minutes

Every company shall cause minutes of the proceedings of every general meeting of any class of shareholders or creditors, and every resolution passed by postal ballot and every meeting of its Board of Directors or of every committee of the Board, to be prepared and signed in such manner as may be prescribed and kept within thirty days of the conclusion of every such meeting concerned, or passing of resolution by postal ballot in books kept for that purpose with their pages consecutively numbered.]

Notes: Abovementioned all due dates are subject to the change as and when notified by the Ministry of corporate affairs (MCA) during the year.