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For ROC Compliance Process for OPC

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FAQ

FAQ on Yearly ROC Compliance for Company

The most important ROC compliances for OPC is yearly Annual return filing, issue of Share certificate, maintenance of Statutory registers and minutes book. Please fill the above details and get the detailed list of compliances in 1 minute.

Here it goes…

  • OPCs have many compliance exemptions in comparison to Private limited companies. However, basic compliances as given in new companies Act is a must. Many OPC are unable to keep up with the filing due dates and end up paying heavy penalties.
    We believe in strong follow-up and reminder system to ensure that your filings are done on time.
  • Every Entrepreneur has to focus on the business and leave the legalities to able and trusted hands. Thousands of Startups have trusted Startupwala for their legal needs.
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There are many privileges for a OPC in comparison to a Private Limited company, in terms of exemptions for single director OPC from maintenance of Minutes book, Statutory registers and Annual general meeting.

  • Filing of Annual returns via Form MGT 7 & Form AOC 4
  • Maintenance of Minutes book for multiple director OPCs
  • Yearly Disclosure of Interest by Directors
  • ROC Filing for Event based compliances as given below
  • Change in OPC Sole Shareholder
  • Change in Nominee of OPC
  • Appointment & Resignation of Directors
  • Appointment of MD or CEO
  • Change in the Registered Office of OPC
  • Change in Capital of OPC company
  • Change of name andMain objects of Company
  • Charge Management, upon taking secured loan fromFinancial Institutions
  • Drafting Resolutions for various meetings
  • Changes in DIN

In case of a single director OPC company Board of director meeting is exempted. However, in case of a OPCs having more than one director, board of directors meeting to be held as per provisions of the Companies Act 2013.

No, as there is a single shareholder in an OPC, there is no need of an AGM.

MANDATORY COMPLIANCES & PENALTY

(Applicable for all companies under companies act,2013)

Compliance to be done When is this compliance to be done? Penalty for Non-compliance
1. Issue of Share Certificates The company must issue the Share Certificates to its shareholders within 2 months of its Incorporation or new allotment
  • Company: Fine from Rs. 25,000 which may extend to Rs.500,000.
  • Directors: Fine from Rs. 10,000 which may extend to Rs. 100,000.
2. Statutory Registers 7 to 8 Mandatory Registers to be maintained and updated from time to time
  • Penalty: Rs. 50,000 which may extend to Rs. 3,00,000 and
  • Further fine: Rs. 1,000 day for which the default continues.
3. Annual ROC Filings

w.e.f 01/04/2014

  • Filing Annual Return (MGT-7)
  • Filing Financial Statements (AOC-4)
  • ADT-1 (Auditor Appointment)
  • Every company is required to file its Annual Return(MGT-7) with the ROC within 60 days of Event Date/Meeting Date.
  • The Financials(AOC-4) also to be filed within 180 days from end of financial year.
  • The Auditor Appointment (ADT-1) to be filled within 15 days from the Event Date/Meeting Date.
  • Additional ROC Filing Fees: Upto 12 times of normal filing fees for each Form separately i.e. MGT-7, AOC-4 & ADT-1 (Depending on the Delay time)
  • +

  • Company: Shall be punishable with fine of Rs. 50,000 which shall extend to Rs. 5,00,000 and
  • Director in default: shall be punishable with imprisonment upto 6 Months or with Minimum Fine of Rs. 50,000 which may extend to Rs 5,00,000 or with both.
4. Board Meeting Compliances (For OPC Companies with more than 1 Director)
  • 1st Board Meeting thirty days of date of incorporation and
  • One Board Meeting to be held in each quarter of the financial year.
  • Minutes of meeting to be prepared,Notice of Meeting should be given
  • Attendance Register of every meeting to be maintained.
  • Company: Fine from Rs. 25,000 and
  • Director in default: liable to a penalty of Rs. 5,000.
  • Non-compliance in Issue of Notice of Meeting, Director shall be liable to a penalty of Rs. 25,000.

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