All the Companies Registered in India are governed by the provisions of Companies Act, 2013. Companies Act is an act of Parliament which regulates the working of Companies and legal limits within which companies may do their business.
Company law provides legal compliance that are required to be followed by every company like reporting of financial results, reporting of changes in management, maintenance of statuary registers and records, auditing of accounts, compliances with the Registrar of Companies etc. Following are the snapshot of various compliances to be followed by Companies under the Companies Act, 2013.
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MAINTENANCE OF STATUARY REGISTERS
- MGT-1: Register of Members
- MGT-3: Foreign register of members, Debenture Holders other security holders or beneficiary residing outside india
- FORM SH-2: Register of renewed and duplicate share certificate
- FORM SH-3: Register of Sweat Equity Shares
- FORM SH-6: Register of Transfer and Transmission of Shares
- FORM SH-10: Register of Shares or Securities bought back
- FORM SH-12: Register of loan, investment and guarantee
- FORM CHG-7: Register of Charges
- FORM MBP-4: Register of contract or arrangement in which directors are interested
- Register of Director and KMP
- Register of deposits
MINUTES OF MEETING OF BOARD OF DIRECTORS, GENERAL MEETINGS
It is mandatory for every company to cause minutes of the proceedings of every meeting of Board of Directors, General meeting within 30 days of conclusion of meeting concerned. Minutes shall be preserved permanently and shall act as evidentially value in case of any future dispute.
MANDATORY ANNUAL COMPLIANCE FILLINGS WITH THE ROC
| No. | Particulars | Form No | Time Period |
| 1 | Financial Statement | AOC-4 | Within 30 days of AGM |
| AOC-4 (XBRL) | |||
| AOC-4 (CFS) | |||
| 2 | Annual Return | MGT-7 | Within 60 days of AGM |
| 3 | Notice of Appointment of Auditor | ADT-1 | Within 15 days of AGM |
EVENT BASED COMPLIANCE FILLINGS WITH THE ROC
| No. | Particulars | Form No |
| 1 | Change in Directors or KMP | DIR-12 |
| 2 | Increase in Authorized Share capital | SH-7 |
| 3 | Increase in Paid up share capital (Issue of Shares) | PAS-3 |
| 4 | Change in registered office of Company | INC-22 |
| 5 | Change in secured borrowing (Creation and Modification of charge) | CHG-1 |
| 6 | Satisfaction of charge | CHG-4 |
| 7 | Change of name of Company | INC-24 |
| 8 | Conversion of Company | INC-27 |
| 9 | Filing of resolution and agreements | MGT-14 |
| 10 | Appointment of Auditor | ADT-1 |
| 11 | Resignation of Auditor | ADT-3 |
At present, the structure of Additional Fees for late filing of the RoC forms is as under:
| No. | Delay | Additional Fees |
| 1 | Upto 15 days | 1 Time |
| 2 | Between 15-30 days | 2 Times |
| 3 | Between 30-60 days | 4 Times |
| 4 | Between 60-90 days | 6 Times |
| 5 | Between 90-180 days | 10 Times |
| 6 | Between 180-270 days | 12 Times |
It is proposed to amend “the Companies (Registration Offices and Fees) Rules 2014” to levy additional fees @Rs.100 per day for filings MGT-7 (Annual Return) and AOC-4 (Annual Financial Statement) under the Companies Act, 2013.
Once notified, the additional fees @ Rs.100 per day (beyond the normal date of filing) shall become payable in respect of 23AC, 23ACA, 23AC XBRL, 23ACA XBRL, MGT-7, AoC-4, AoC-4 XBRL and AoC-4 CFS.
Earlier, Many Companies were ignoring RoC compliances due to soft attitude of RoC and lesser additional fees. But now, after strict actions of RoC like striking off nearly 2 lakh companies and disqualifying more than 3 lakh directors and increase in additional fees for late fillings, Companies should take RoC compliances seriously or otherwise spent huge amount as an “Additional Fees”.
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