ROC filing means the submission of papers and returns to Registrar of Companies (ROC) in accordance with Companies Act of 2013. ROC is a government institution which supervises companies and business entities and, as a rule, can be placed in the government structure.

This is the key statement that enables companies to discharge legal and regulatory obligations during their operations and make several decisions.

There are several forms which are to be lodged with the ROC based on the nature of business and statutory compliances to be made. These include: 

• Annual Return Filing: MGT-7 Form provides a summary of the company’s annual financial performance and also discloses key details over the fiscal year.

• Financial Statements: AOC-4 From (XBRL/Non-XBRL) reports and provides a summary of the company’s balance sheet, profit and loss statement, cash flow statement, auditor’s report etc.

• Change in Company’s details: Updates in details like change in directors, registered office address, company name or share capital needs reporting to ROC in various e-forms for the aforesaid matters.

• Incorporation documents: During incorporation, documents such as Memorandum of Association (MOA) and Articles of Association (AOA) and other statutory details are required to be disclosed. 

•  LLP ROC Filing: The Limited Liability Partnership has to file Form 8 and Form 11 every year.

In this article, let’s deep dive into the aspects of annual filings.

 Annual Return (MGT-7) 

• Due Date: As per the Companies Act, 2013, 60 days from the date of the Annual General Meeting. 

 Financial Statements (AOC-4) 

• Due Date: To be filed within 30 days from the date of Annual General Meeting; 

 LLP Forms 

 Form 11 (Annual Return) 

• Due Date: As per the Limited Liability Partnership Act, 2008, Form 11 is to be filed within 60 days from the closure of the financial year, i.e., by May 30 every year. 

 From the filing System Form 8 refers to statement of accounts and solvency.

• Due Date: October 30th each year. 

 Late Filing Penalties: 

• ROC Late Filing Fees: INR 100 per day for filing of annual returns and financial statements, if filed after the due date.

• ROC Filing Status: It is also important to note that to find out the ROC filing status of a particular company, one has to enter the company’s CIN on the MCA homepage. 

•  ROC Annual Filing: Every company has to submit its annual return and the balance sheet and profit and loss account with the ROC annually. 

• ROC Annual Filing Date Extended: Extensions can also be made by the MCA because of factors such as force majeure, for instance the ongoing COVID 19 pandemic. 

 Penalty for Non-Compliance 

• ROC Filing Penalty: Serious consequences are provided for failure to do this, i. e. fines and even exclusion of directors. 

• What are the Consequences of Late Filing of ROC Return? : As mentioned earlier penalties can be even consolidated at a rate of INR 100 per day. 

 Special Considerations 

• ROC Filing for One Person Company: The OPCs have a little variation in their filing procedures and deadlines than the normal companies. 

• XBRL ROC Filing Applicability: It is compulsory for filing through XBRL for particular categories of companies including the listed companies and any other public companies which meet some other conditions.

The ROC performs following roles in the legal structure devised for companies: Here are some key functions:

• Company Registration: The ROC is once more responsible for the registration of new companies and business entities.

• Compliance Monitoring: The ROC is also involved in enforcement and ensures compliance by Companies with the provisions of the Companies Act by filing the annual return together with financial statements.

• Public Disclosure: In this case, ROC shows company information which is simply formed by company names, directors and other essentials such as financial statements and several others. This is the case since transparency and accountability are likely to be enhanced among suppliers when using this approach.

• Regulation of Corporate Activities: ROC is responsible for monitoring the corporate activities so as to prevent frauds and other unlawful business activities to ensure that they are legal.

• Dissolution of Companies: It has jurisdiction on the dissolution of companies it receives voluntary strike off applications.

• Advisory Role: The ROC also provides information to the companies on issues relating to law and regulation with a view of placing them in a better position.

• Investor Protection: Consequently, record-keeping for ROC whilst improving the medium’s credibility minimizes corporate risks to investors and stakeholders.

• Corporate Governance: Measures: The ROC encourage the implementation of excellent corporate management practices by legislation and other:

As it will be appellate to point out, these functions are extremely important so as to ensure that the corporate sector has the right business environment.

ROC filing is necessary for several reasons:

• Legal Compliance: This means that the law mandates the companies and the LLPs to ensure timely submission of documents to the ROC.

• Transparency: In this way, ROC filings help the company to explain the business processes to those individuals who might be interested in the company and may include investors and members of the public.

• Corporate Governance: For this reason, it helps in right governance by publicly making available documents such as financial reports, annual reports and any changes in the ownership and management of the company.

• Credibility and Trust: Timely filings and transperancy can attract investors and partners by proving that the company does good things with it.

• Public Record: The ROC filings provide a legal declaration of a company’s legal personality, which might be helpful in many aspects of signing contracts, obtaining loans, or engaging in any kind of legal business.

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