Private Companies. Compliance Streamlined.
All the Private Limited Companies of India are regulated by the Companies Act, 2013. This Act has enforced certain laws that serve the purpose of limiting the business operations of such companies by legal implications. All the States and Union Territories has to register the Private Limited Companies annually with the Registrar of Companies (ROC). The Registrar of Companies is directly governed by the Ministry of Corporate Affairs or MCA. The primary role of the ROC is to ensure that all the statutory requirements of Pvt Ltd companies are completed on time and if not, to penalize them for the same. India has a total of 22 ROCs associated with all the states. These Pvt Ltd Company compliances may vary with respect to the type of company it is. Hence, all such companies have to file all the compliances that apply to them. If any company fails to file their compliances on time, they are charged heavy penalties and risk getting their names struck off the register.
Contact us today to let us take over the heavy duty paperwork and file your compliances regularly.
Compulsory ROC Compliances for Private Limited Company
Every Private Limited Company has to file the compliances mentioned below mandatorily annually, the failure of which will attract imposition of heavy penalties.
01
It is compulsory for all the Private Limited Companies to hold at least 4 Board Meetings annually, or at least 1 meeting in each yearly quarter. For each of the board meetings, the presence of one-third or 2 directors is a must. The details, decisions and conclusions of such a meeting is to be written down in the way of Minutes of Meetings by the secretary and is required to be maintained at the registered office of the company.
02
All the Private Limited Companies are required to mandatorily hold an annual shareholders meeting every year. This meeting addresses decisions like the approval of financial statements, declaration of dividends, appointment and reappointment of auditors, among others. The city of the registered office of the Private Limited Company has to be the location for conducting such an Annual General Meeting.
03
All such Private Limited Companies are required to appoint an auditor for their company using the Form ADT-1 within 30 days upon registration of their company. The auditor handles and conducts the Company’s statutory audit. I Failure to to appoint an auditor within 30 days of registration attracts penalty or even the event of the company name being struck-off.
04
All Private Limited Companies are required by the Companies Act, 2013 to keep the government informed with the details pertaining to the operational status of the company. They are required to submit the Form MGT-7 to file their annual return and Form AOC-4 for their financial statement.
05
Various activities related to sales, marketing, purchase, tender, administration, board meetings etc. happens in a company and company must maintain information of all those things in registers. Thus it is also mandatory for every Private Limited Company to maintain registers like Register of Directors, Register of Member, Register of Contracts, Register of Charges etc. All these registers must be maintained and made available to ROC as and when required from register office of the company.
What Are The Event-Based Compliances To Be Fulfilled By A Private Limited Company?
Apart from the above mentioned compulsory ROC compliances, that are required to be filed by a Pvt Ltd Company, there are a few event-based compliances that have to be filed as and when such events come up. These events can be:
There are several forms that are to be filed for such compliances by a Private Limited Company, the failure of which attracts heavy penalty and warnings. To ensure that your company is in compliance with all of the requirements set by the Companies Act, 2013, contact us today and let us help you with our expert team.
