ROC Related Regular Compliance
In India, corporate compliance is a continuous process that requires businesses to meet various legal, regulatory, and statutory requirements on both an annual and regular basis. Compliance ensures that companies operate in accordance with the laws and regulations prescribed by the government and other regulatory authorities. Below is an overview of annual and regular corporate compliance for businesses in India.
Companies registered under the Companies Act 2013 must adhere to annual ROC compliance to avoid penalties. This article outlines crucial dates and necessary forms for fulfilling compliance obligations. Proper disclosure of director interests, timely payment to MSME vendors, and filing of annual accounts and returns are pivotal to regulatory adherence. Additionally, adherence to director KYC norms and AGM obligations is imperative for maintaining statutory compliance and corporate governance standards.
To stay compliant with the Registrar of Companies (ROC) in India, all registered companies, including private limited companies, must meet a set of regular annual and event-based requirements. These filings are handled through the Ministry of Corporate Affairs (MCA) portal.
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Annual ROC compliances
Event-based ROC compliances
Filings are triggered by specific company events. Examples include:
Recent changes in ROC compliance
Recent MCA amendments aim to enhance corporate governance and transparency. Notable changes include the migration of annual filing forms to the V3 portal and enhanced disclosure requirements. ROCs are also increasing enforcement against non-compliance.
Penalties for non-compliance
Failure to comply with ROC requirements can lead to penalties. These include daily late fees for forms like AOC-4 and MGT-7/7A. Non-filing of annual returns for three consecutive years can result in director disqualification and potential company strike-off by the ROC.