
What is an ROC Compliance?
The word ROC stands for – Registrar of Companies which refers to a Certificate of Incorporation granted to any organization. An ROC Compliance Registration is governed by the Ministry of Corporate Affairs in India. The process of obtaining ROC registration includes submission of various documents, valid details about company formation, etc.
However, before proceeding forward it’s necessary to know the necessity to get ROC Compliance registration in India. Although, there are plenty of reasons to adhere to ROC Compliances in India. However, there are specific obligations mandated for every holder of ROC Certificate in India.
Let’s take a look through some of those mandatory compliances listed under ROC Registration regulations.
List of ROC Compliances Mandated for Private Limited Companies
Every Private Limited Company must adhere to certain guidelines listed under ROC guidelines under Companies Act 2013, and Limited Liability Partnership Act, 2008.
Some of those mandatory guidelines include-
- Convene regular board meetings for addressing critical corporate affairs and matters
- Expedite decision making, regulatory compliance and strategic alignment to address the operational challenges and evade them with necessary remedies
- Hold Annual General Meeting where shareholders and directors gather for discussing company’s performance, financial health and further future plans
- Directors of Private Limited Companies must disclose potential conflicts of interest with shareholders for resolving the issues
- A Private Limited Company must file annual income tax to comply with Tax Regulations
- Companies must hold Annual General Meeting in six months at the end of each Financial Year
- Every Financial Report is to be approved at AGM before ROC filing
- Four Board Meetings are to be conducted in every Financial Year
- Director Identification Number (DIN) holders must file Form DIR-3 KYC and ROC Compliance report annually
- Every minute of Board Meeting, financial statements must be maintained with accuracy in every Financial Year
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