Broad array of services included in Annual ROC compliance for a company
Compliance with rules and
regulations forms a very important aspect of functioning for any company. Being
compliant builds investor confidence as well as creates a positive image for the
customers. At the same time, it keeps the directors and the company away from
controversies, notices, penalties and what not. ROC compliance elaborated as a Registrar
of Company’s compliance is an integral part of the overall compliance for a
company. Availing specialized annual
ROC compliance services can help address the following compliance
mandates-
·
Director’s
compliance
Under the rules and
regulations, the directors have several disclosure requirements from time to
time with respect to their interest in other companies/partnerships. The
directors might have to compile some reports regarding the annual general
meetings, decision making, etc. These reports or disclosure forms have a rigid
timeline and might have severe consequences during failures. It is difficult
for the board of directors to make important decisions, manage businesses and
still comply with these rules and regulations. Therefore, including the director’s
compliance in the annual ROC
compliance service makes a lot of sense.
·
Board and Annual
Reports
As the director, there are
instances where board reports might be required to file as part of annual
ROC filing for the company. Especially after the statutory meetings or
major decision-making meetings. Annual reports include different financial and
non-financial statements that must be filed at the Registrar’s office, which should
ideally be audited as well depending on the threshold. Balance sheets, profit
and loss accounts, capital structure, debt, GST forms, TDS forms, etc., are
part of the annual reports that could be filed with Registrar of companies.
·
Registrar’s
record update
Every company irrespective
of threshold or transaction or business must make a statutory business
continuity filing with the ROC. This signifies the business is in continuity
and has not liquidated. The Registrar’s office might require more statutory
information based on business dynamics, transactions, etc. These statutory
registrar’s register update is done in a timely manner under the comprehensive annual return filing for firm
compliance service.
·
Form AOC4, MGT-7
and more
The annual return filing for the firm includes AOC4 and MGT-7
pre-dominantly. There may be more based on transactions in the given year. Such
annual filings shall be done and documented in a timely manner with the
appropriate authorities or using e-file.
·
Notice drafting
Every company needs to send
out some notices, could be to the investors for annual general meetings, or
creditors for clearing dues or to government authorities with requests or
notifications. Appropriate language and message clarity are very essential for the
best outcome. This service also forms complimentary in the annual ROC compliance, which saves a lot of time for the board
members.
How
does everything work?
How do service providers
execute all these services and how does everything work eventually? Let’s find
out-
· Fill in a questionnaire appropriately which has
general questions about your company, kind of transactions it is into and might
get into in the future
· Submit all the documents for verification and
compliance determination. Provide for more documents on request (if required)
· Filing of all forms and completion of all compliance
requisite based on documents submitted
· Provide for e-receipts or confirmation for
documentation purposes
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