ONLINE STARTUP ROC EVENT BASED COMPLIANCE PROCESS

Meaning of ROC Compliances - Under ROC Compliance, there are two type of events

(a) Annual ROC Compliance - Compliances Which are mandatorily required to be complied with Every Year.

(b) ROC Event Based Compliances - Compliances Which are not mandatory to be complied with every year, instead they are mandatory to be comply with, every time whenever there are happening of certain events, i.e. change in directors, change in MOA/ AOA, and any other events which requires submitting of information to the ROC (Registrar of Companies)

For all the business entity formed in India as per Companies Act, LLP Act, there are various compliances which are required by the law to comply with timely as and when required. These compliance are easy to maintain and has minimum liability for owners, if they are being complied properly and timely. The article here throws limelight on the Online ROC Event Based Compliances.

ROC Event Based Compliances Process includes filing of separate forms with the registrar of companies within stipulated time period states in the rules. The ROC Event Based compliance process is quite seamless provided you get the right help.

When Compliances requirement arises as a result of occurrence of any particular event like change in directors, change of registered office, change in authorized share capital etc, then such compliances is known as event Based Compliances. These compliances are one-time, frequent, or intermittent reporting, which are either required by the concerned laws in order to remain legal and secure. Timing and frequency of such ROC Event Based Compliances process depend upon the nature of the transactions or event. Under new company law there are stringent penal provisions for non-compliance and in case of default; company as well as key managerial personnel are liable to be panel provisions. Non-compliance thereof lead to heavy penalty in monetary terms and other non-monetary penal consequences also. Hence, it is necessary that the happening of such events get tracked and compliances met with on time in order to avoid penalties or additional fees.

Some of the Event based compliances are mentioned below

Changing the Authorized Capital of a Company
Appointments and Resignations of Directors
Appointments and Resignations of Auditors
Issuing/Allotment of Company Shares
Transfer of Company Shares
Issuance of Share Certificates
Obtaining DINs, DSCs, DPINs, etc.
Maintaining and Updating Statutory Registers and Records
Adding or Removing a Director/Designated Partner
Drafting Resolutions
Changing Name of the company or LLP
Changing Address of the company or LLP
Alteration in the MOA and AOA
Alteration in LLP Agreement
Right Issues
ROC Compliances Auditing
Any adventitious compliances or reporting under the Tax Departments or GSTN
Event-based compliances under various concerned authorities, regulatory bodies, and laws (such as labor & employment laws, corporate and commercial laws etc.)
Winding-up of Company
And, reporting and compliances related with other contingent events and occurrences associated with the internal and external business management.

Running of company was used to be an easy process under Companies Act, 1956 as registrar of company (“ROC”) did not used to take any strict action against defaulter, but Under new company law there are stringent penal provisions for non-compliance and in case of default; company as well as key managerial personnel are liable to be panel provisions

To avoid these risks we can help you by providing the support services of making sure you do not default in keeping up with the ROC compliance calendar or any other kind of event based compliances in a company.

06 Jan

Akash Rai

"Any time is a good time to start a company.” Neusource indulge in providing business consultancy services which help startups to accomplish their desired results as a TAJ EXPRESS. If you’re passionate about something and you work hard, then neusource is the right choice for you.