Company is a corporate entity and is operated by legal rules and procedures given under the Companies Act 2013. ROC is also known as Registrar of Companies under the Ministry of Corporate Affairs looks after the compliances of Companies under its jurisdiction. Every Pvt. Ltd. company irrespective of its size has to file returns and documents to comply with the legal requirements given in the Act and is known as ROC compliances.
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After the AGM for the year, every company is required to file itsAnnual Return(MGT-7) with theROC within 60 days of AGM along with the Financials(AOC-4) within 30 days of AGM.The Auditor Appointment (ADT-1) to be filed within 15 days from the AGM.
Board meeting is a meeting of Board of directors of the company held for management of the Company. First Board Meeting to be held within 30 days of dateof incorporation and every Private Limited Companymust holdminimum of 4 Board of Directorsmeeting in a year i.e. 1 in every Quarter.
The general procedure is Issuing Notice and Agenda, Board meeting to be held, Maintenance of Attendance register and Minutes of the meeting.
AGM is a meeting of Shareholders to be held every financial year to meet and decide upon the approval of Accounts, distribution of dividends, appointment or reappointment of directors and Auditors.
First AGMto be held within 9 months from thedate of closing first financial year. Subsequent AGM to be held within 6 monthsfrom the date of closing of the next financial year.
|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||
|2. Statutory Registers||7 to 8 Mandatory Registers to be maintained and updated from time to time||
|3. Board Meeting Compliances||
|4. Annual General Meeting (AGM) Compliance||
Default in holding AGM:
Minutes Book Maintenance:
|5. Annual ROC Filings