HEALTH CHECK-UP ON ROC COMPLIANCES

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Registrar of Companies (ROC) has been appointed under Section 609 of the Companies Act and deals with the administration of the companies. Both private limited companies and Limited Liability Partnership (LLP) companies must comply with the statutory requirements of Companies Act, 2013.

Companies and LLPs have to comply with ROC by filing the various return and forms, and documents. These could categorized into two:

Annual compliance Filling– These compliances required to made once a year

Event-Based Compliance Filling– These compliances required to made from time to time based on various events.

DIFFERENT FORMS TO BE FILED:

  1. Form ADT-1

The form to filed in regards to the appointment of an auditor. However, the due date to file this form in the financial year 2019-2020 is 14 October 2020

  1. MGT-14

This is in association with the filing of resolutions regarding board report and annual accounts. The details of the resolutions passed should filed within 30 days of the board meeting.

  1. Form AOC-4/AOC-4 (CFS)/ AOC-4 (XBRL)

This form filed to intimate the annual accounts (financial statements, notice and director’s account) with ROC. This should be filed within 30 October 2020 for the period 2019-2020.

XBRL filing is applicable for companies having paid-up share capital of INR 5 crore and above or turnover of 100 crores or above.

  1. MGT-7

This form filed to comply with an annual return and furnishing details about the company with ROC. This should filed within 29 November 2020 for the period 2019-2020.

  1. CRA-4

It filed to report the cost of the audit report to ROC. The due date to file the CRA-4 for the financial year 2019-2020 has ended on 31 March 2020. But this can furnish in the e-Form CRA-4 in between 30 days from the date of receipt of the copy of the cost audit report by the company.

RELAXATIONS UNDER PANDEMIC CIRCUMSTANCES

Under the circumstances of COVID-19 pandemic. Take measures to provide relief

  1. There won’t be an additional fee charge for any delay in the filing of pending returns or documents with the Ministry of Corporate Affairs. Similarly, no additional fee for delay in filings due between 1 April 2020 and 30 September 2020.
  2. The Companies Act, 2013 prescribes a minimum of 120 days between 2 Board meetings of a Company. This extended 60 days for the two quarters falling in the period 1 April 2020 to 30 September 2020.
  3. The Companies (Auditor’s Report) Order, 2020 will be applicable from the Financial Year 2020-21 instead of Financial Year 2019-20, and hence, Companies Auditor’s Report Order (CARO) 2020 has to be followed for audits commencing April 2021.
  4. Independent directors are require to hold at least one meeting in each financial year. For the FY 2019-20, if the independent directors are unable to hold a single meeting, they will not penalize. This is a special provision under COVID-19 circumstance.

You can keep your ROC compliances healthy by clicking here.

 

 

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