As per the Companies Act 2013, every company registered in India (including Private Limited, Limited, One Person and Section 8 Company) must file annual returns with ROC every year. It required to conduct an Annual General Meeting (AGM) and submit annual accounts to the ROC. AGM should be held within 6 months after the financial year ends, i.e., before September 30th each year. For new companies, the first AGM must be held within 18 months from the date of incorporation or 9 months after the financial year closes, whichever is earlier.
Annual return consists information and documents that include the Balance Sheet, Profit & Loss Account, Compliance Certificate, Registered Office Address, Register of Member, Shares and Debentures details, Debt details, Management details, shareholding structure, changes in Directorship and details of transfers of securities, if any.
Not filing Annual returns incurs significant penalties in addition to standard MCA fees, and there is no option to reduce these penalties.
We are one stop destination for Company Compliance / ROC Compliance and filing as our entire team consist highly qualified CA, CS, Lawyers and business administrators.
*Government Charges Not Included
The Director of a company is an individual who is chosen by the shareholders in accordance with the provisions stated in the Memorandum of Association and Articles of Association of the company. Appointment or Change in directorship may be required as per the company's business perspective. Depending on circumstances, a director may have to resign or he may have to be removed from the board of directors.
Procedure for director appointment, resignation or removal will be different. A director can resign from a company by giving notice, and the board must file a relevant form with the Registrar of Companies (ROC) within 30 days. A Director is also required to file form DIR11 with ROC.
Every registered (Pvt. and Public) company or LLP in India must file an annual ROC compliance to the MCA within the deadline stated in the Companies Act 2013 and the Companies Rules.
Yes, every company irrespective of the number of transactions has to get the compliance filings done.
Balance sheet and Annual Returns (Form AOC-4 and MGT-7) have to be filed once in a year. Furthermore, Companies must file Form 3 if there is a Return of Allotment, Form No INC-22 in the event of a change in the registered office, and Form No DIR-12 for any changes in directors.
The Annual General Meeting (AGM) must take place either at the company's registered office or at another location within the same city, town, or village where the registered office is situated. The meeting should occur within the designated business hours of 9 am to 6 pm on any day that is not officially declared as a national holiday by the central government.
A director is required to be physically present for at least one Board meeting of the company. If the original director is unable to attend, an alternate director may be appointed to represent them at the meeting. However, if a director is absent from all the board meetings of the company, they will be removed from their position as a director of the company.
The Companies Act 2013 permits an individual to serve as the managing director in two companies simultaneously.
Within 60 days of end of the financial year, each LLP must submit an annual return (Form-11) to the ROC. Upon payment of the required fees to the Registrar, access to the yearly return will be made public by the ROC.
Yes, there is and it is as follows: The proposed individual must be a major. They must qualify as per the laws mentioned under the Companies Act, 2013. The approval of all board members is necessary for the appointment of the proposed individual.
No, a DIN or director identification number is permanently allotted and can be used for a lifetime. Once assigned, the same number can be utilized for multiple appointments and resignations.
Yes, an NRI or foreign national may be added as a director in a private limited company as long as there is at least one director on the board who is an Indian resident. In order to accomplish this, they need to possess a valid passport and a DIN.
Requirement of the minimum number of directors, is based on the type of company. For a one-person company it is 1, for a private company it is 2 and a public company needs to have at least 3 directors.
A person cannot be appointed as a director if he doesn’t qualify under the AoA, if they are an undischarged bankrupt, or if they are restricted by a court order.
A private company can have a maximum of 15 directors.
Yes, a person with a criminal record can be a director of a company as long as they are not restricted specifically by a court order.
A director can be removed in three ways: By the director by giving their resignation If the director is absent from board meetings for 12 months By the shareholders, if they deem it necessary.
Yes, a company director can be removed without their consent. Removing it requires a strict procedure to be followed.
Copyright ©2022 Vibrant FinServ. All Rights Reserved