ROC Compliances are vital for companies under the Companies Act, 2013, regardless of turnover or capital. Annual filings are mandatory for all types of Indian companies, including private limited, one person, limited, and section 8 companies.
Meaning and Applicability
ROC Compliance Essentials: Annual Filing Requirements for Indian Companies
The RoC compliance for the companies registered under Companies Act, 2013 is necessary. Irrespective of the total turnover or the capital amount, the company must comply with the annual compliance requirement.
Filings in ROC
All companies registered in India like a private limited company, one person company, limited company, and section 8 company need to maintain the annual compliances relating to ROC filing as mentioned below:
| Sr. No. | Nature of ROC Compliance | Description |
|---|---|---|
| 1 | Commencement of business (within 180 days) | For companies registered in India having a share capital, it is necessary to obtain a commencement if business certificate before commencing any business or exercising the borrowing powers. The commencement of business certificate must be obtained within 180 days of incorporating a Company. In case the individual fails to obtain this certificate, there is a penalty of Rs. 50,000 for the company Rs. 1000 per day for the directors for each day of default. |
| 2 | Auditor Appointment (Within 30 days) | All companies must appoint a Statutory auditor within 30 days of incorporation. If the company fails to appoint an auditor, the company won’t be allowed to commence business. Also, there is a penalty of Rs. 300 per month in case of delay in filing |
| 3 | MCA Form AOC-4 | The registered private limited companies must file MCA Form AOC-4 on or before 30th November 2021 for the FY2020-21. Failure to file AOC-4 will attract a penalty of Rs. 200 per day of default or delay. |
| 4 | MCA Form MGT-7 | It is necessary to file MCA form MGT-7 on or before 31st December 2021 for FY2020-21. Failure to file MGT-7 attracts a penalty of Rs.200 Per day of default or delay. |
| 5 | DIN eKYC | All the directors of the company must be filed for the DIN eKYC or DIR-3 eKYC. In DIR-3 eKYC, the Director must provide a unique personal mobile number and a personal email address. There’s a penalty of Rs. 5000 in case of failure to file DIN eKYC. |
| 6 | Hold Board Meetings | For a company, it is mandatory to hold minimum 4 board meetings (subject to relaxations to Small Company and OPC etc.) in a year and Minutes of Board Meetings need to be prepared by the company. |
| 7 | Hold Annual General Meeting | For a private limited company, it is mandatory to hold an annual general meeting once a year. Companies are required to keep their AGM within six months from closing the financial year. |
| 8 | Director’s report | Preparation of the Directors report will be done with all the information required under Section 134. |
