MCA ROC compliance

MCA ROC compliance

MCA ROC compliance

We can provide end to end solution for your company compliance starting from ROC search, maintenance of statutory records to filing to MCA ministry of corporate affairs.

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Statutory records to be maintained:

Statutory registers, as per companies act are the registers which can contains specific record of the company’s shareholders, directors, deposits, loan & guaranty, etc and needs to be placed at registered office of the company.

As per the various provisions applicable of the companies act, 2013 and the rules frame hereunder, requirement to maintain the statutory register arises. The companies and on-officers in default for non-compliance of these sections and rules attracts huge penalties.

To avoid the penalties and maintain good corporate governance, it is always advised to maintain the statutory register.

Under the Companies Act, 2013 registers to be maintained:

1. Register of the Company:

At the registered office, every company accepting deposits must keep one or more registers for deposits accepted and/or renewed for a period of 8 years. Such period must be from Financial year in which the entry was passed in such register. Following details of the depositors needs to be considered in the register:

  • Name, PAN and address of the depositors,
  • For Minor, details of guardians,
  • Nominee Particulars,
  • Date and amount of each and every deposits,
  • Deposit receipt number
  • Interest Rate,
  • Duration of such deposit,
  • Repayable date,
  • Other details with respect to deposit.

In this register all the entries entered needs to be authorised by the company’s director, secretary or any other such other authorized to do so.

2. Register of Members:

Section 88(1)(3) requires maintaining the register of members under format MGT-1. At the registered Office of the company, these register needs to be maintained or any other place where one tenth of the member resides by passing a special resolution.

In the next board meeting of the company, entries made in this register will be authenticated by Company Secretary or by authorised director/authorised person in case there is no company secretary.

The company or the office in charge for non-maintenance of register may attract penalty which is not less than Rs 50000 which may extend up to Rs 3 lacs. If default continues penalty of Rs 1000 per day will be charged.

3. Registers of Charges:

Section 85, in format CHG 7 requires maintaining the Register of Charges. This register must contain details of the charges registered with registrar on assets, property, companies or undertaking along with particulars of property that was acquired and which was subject to charges and also particulars of modifications or satisfaction of any charge.

At company’s registered office, the register must be permanently preserved. From the date of satisfaction of the charge by the said company, the instrument must be preserved for a period of 8 years

4. Register of directors and key managerial personnel:

Section 170 and Rule 17 requires to maintain the Register of Directors and Key managerial personnel and their shareholding. Register describes details of directors Name, PAN, address, etc and their shareholding in the company itself, its Associate company, etc.

During business hours, members can inspect the register and have rights to extracts and copies on request for free of cost within 30 days of making the request. In the annual general meeting of the company register will be open for inspection and made accessible to every person attending the AGM.

The Company or the officer in default will have to pay penalty minimum of Rs 50000 which may extend up to Rs 5 lakhs for non maintenance of register.

5. Register of Employee Stock Options:

In the form no S.H.6, as per provision of the companies Act, 2013, a company must maintain the Register of Employee Stock Options. Company Secretary or such other person as authorised by company’s Board must authenticated the entries in the register.

Who needs to do ROC filing:

Each year MCA annual returns must be filed by all companies registered in India like private limited company, one person company, limited company and section 8 company. Within 30 days of incorporation, all companies prior to filing their annual return irrespective of turnover or activity is required to appoint an auditor.