Company ROC Compliance

What is Company ROC Compliances

The word compliance can be defined as the act of adhering to or conforming with a law, rule, demand or request. In a business environment, conforming to the laws, regulations, rules and policies is the part of business operations often referred to as "corporate compliance." Corporate compliance involves keeping a watchful eye on an ever-changing legal and regulatory climate, and making the changes necessary for the business to continue operating in good standing within its industry, community, and customer base. In a broader sense, corporate compliance extends beyond mere legal and regulatory conformity into the realm of promoting organizational ethics and corporate integrity.

Filing Of Required Documents With The Register:

1. MBP-1: Every director of the company is required to disclose his interest in the first meeting of Board of Directors in every financial year in other entity. He is required to disclose his interest whenever there is change in his interest from the earlier given form MBP 1.
2. FORM DIR-8: Every director is required to disclose his non-disqualification in each financial year.
3. E- FORM MGT 7: Every small company is required to file annual return within 60 days of holding its AGM.
4. E-FORM AOC-4: Every company is required to file its balance sheet along with statement of profits, director’s report, auditor’s report, cash flow statement, notice of AGM.
5. MGT-8: Company having paid up share capital of more than 10 crore or more and turnover of 50 crores or more is required to get it certified by practicing company secretary.
6. E- FORM ADT 1: Company is required to file a form while appointing an auditor for a period of 5 years.

1. DIRECTOR’S REPORT: It is required to be prepared as per section 134 and should be signed by chairperson of the company if he is authorized where he is not authorized then it will be signed by at least two authorized directors.
2. FINANCIAL STATEMENT AND OTHER DOCUMENTS: Company is required to send its members approved financial statements, cash flow statements, director’s report, auditor’s report at least 21 clear days before AGM.
3. NOTICE OF AGM: Company is required to prepare notice as per section 101 of Companies Act 2013 and Secretarial Standards II.
4. SENDING OF NOTICE: Notice will be sent to all the directors, members, company auditor or secretarial auditor if any.
5. BOARD MEETING: Company must hold a minimum number of four meetings of its Board of Directors every year and maximum gap between two meetings should not be more than 120 days. There should be at least 1 Board Meeting in every quarter of calendar year.
6. APPOINTMENT OF AN AUDITOR: Auditor will be appointed for five years and is required to file FORM ADT 1. Shareholders will ratify the appointment of an auditor after first year in every AGM.

Filing Of Required Documents With The Register:

1. FORM MBP 1: Each Director of the Company for every financial year will have to disclose his interest in other entities in every board meeting. If there is any change in interest during the year then he is required to submit form MBP 1.
2. FORM DIR 2: Each director is required to disclose his non disqualification for every financial year.
3. E FORM MGT 7: Company is required to file its Annual Return within 60 days of entry of ordinary resolution in Minute Book.
4. E-FORM AOC 4: Company is required to file its balance sheet along with statement of profit and loss, director’s report , auditor’s report and notice of AGM.
5. E FORM ADT 1: Company is required to file a form while appointing an auditor for a period of 5 years.

Annual Compliances:

1. Maintenance of proper Books of Accounts on cash basis or on accrual basis and according to Double Entry System of Accounting.
2. Maintenance of proper books of accounts at registered office and to be preserved for at least 8 years.
3. Company is required to file its Annual Return within 60 days of entry of ordinary resolution in Minute Book. Maintenance of proper books of accounts at registered office and to be preserved for at least 8 years.
4. Form-11 (Filing of Annual Return) within 60 Days of closure of Financial Year.
5. Form-8 (Filing of Statements of Accounts & Solvency) Within 30 days from the end of 6 months from the closure of financial year.

1. DIRECTOR’S REPORT : It is required to be prepared as per section 134 and should be signed by one director of the company.
2. FINANCIAL STATEMENTS AND OTHER DOCUMENTS : Company is required to send its members approved financial statements, cash flow statements, director’s report, auditor’s report at least 21 clear days before AGM.
3. BOARD MEETING : Company shall hold a minimum number of two meetings of its Board of Directors every year in such a manner that minimum gap between both the meetings, should not be less than 90 days.