What is the full form of ROC?
The ROC stands for Registrar of Companies. It is an office under the Ministry of Corporate Affairs (MCA). It takes care of the registration, incorporation and administration of the companies and Limited Liability Partnerships (LLPs) in India. There are about 22 Registrar of Companies (ROC) in major cities all over the country. The Companies Act, 2013 mandates the ROC compliances for all the companies registered with MCA.
What are the salient features of Registrar of Companies (ROC)?
The salient features of Registrar of Companies (ROC) are as follows-
- ROC can refuse to register a company on various grounds such as unlawful objectives, objectionable name and motive, etc.
- The resolutions have to be filed with the Registrar of Companies (ROC) by any entity as per the Section 117 of the Companies Act, 2013 within 30 days of its issue.
- ROCs role continues to be action even after the company has been registered with it. The company remains associated with the ROC on various terms and grounds for maintain annual compliances.
What are the functions of the Registrar of Companies (ROC)?
The major and vital functions of the Registrar of Companies (ROC) are as follows-
- The Registrar of Companies (ROC) is the one that facilitates, fosters and maintains the healthy business environment in the organizations.
- The main function of the ROC is to look after the company registration which is also called as Company Incorporation.
- It is responsible for regulating and reporting of the company, its directors and shareholders.
- It is in charge of all the government reporting function in several matters and issues and its administration in the company. Such as filing different documents on annual basis.
- To come into existence, every company is required to take approval from the Registrar of Companies (ROC) as it furnishes the Incorporation Certificate serving as a proof of the company’s existence.
- ROC also asks for supplementary data and information about the company’s operations.
- ROC has the power to search the palace of business of a particular company, where it can seize the books of accounts without any approval or warrant from the court or appellate body.
- It can file the petitions related to the company’s winding up procedure.
How does Registrar of Companies (ROC) register a Company?
A company can come into existence in India only after it gets a Certificate of Incorporation that has been furnished by the Registrar of Companies (ROC). They are being issued this certificate only after they submit all the required documents that have statutory value. The promoters or owners of the company have to furnish some documents to complete the procedure of incorporation. These documents are as follows-
- Memorandum of Association (MOA)
- Articles of Association (AOA)
What is filing of ROC Compliance?
The Companies Act, 2013 amended in India states that any company registration done with the Registrar of Companies (ROC) must comply with all the rules and regulations provided by the Registrar. One of the most important compliance with the ROC is the Annual Filing. Within the ROC Compliance Checklist, some other additional compliance such as disclosure by directors, maintaining the statutory registers and draft of annual return have also been included. All the registered entities have to adhere to these mandatory compliances in order to avoid any penal action against them. They are required to fill in the necessary forms and returns.