ROC filing refers to the submission of the audited financial statements, annual returns and other mandatory e-filings with the Registrar of Companies to ensure compliance with the requirements set forth under the Companies Act, 2013 in India.

In this blog, let us understand about the importance of annual ROC filings.

Key Filing Deadlines

Here are the key filing deadlines for companies in India under the Companies Act, 2013, along with details for each type of filing:

• Annual Return (Form MGT-7)

1. Due Date: Within 60 days from the date of the Annual General Meeting (AGM).

2. Details: Contains information about the company’s shareholders, directors, and other particulars.

• Financial Statements (Form AOC-4)

1. Due Date: In any case it must be done within 30 days from the date of the General Annual Meeting of the company.

2. Details: Reports such as balance sheet, profit and loss account, cash flow statement, and auditor’s report.

• Director’s Report

1. Due Date: To be approved in the AGM and included with the financial statements.

2. Details: Annual report by the board of directors on the company’s financial performance and managerial actions.

• Secretarial Audit Report (Form MR-3)

1. Due Date: To be filed along with the annual return.

2. Details: Applicable to companies meeting certain criteria, providing insights on compliance with various laws.

• Form DIR-3 KYC

1. Due Date: Annually, by September 30 of each year.

2. Details: Directors must update their KYC details. A penalty applies for non-filing.

• Changes in Directorship (Form DIR-12)

1. Due Date: In every 30 days of the appointment or resignation of a director.

2. Details: Intimating changes that occur within the board of directors.

• Registered Office Change (Form INC-22)

1. Due Date: Between the date of change and 30 days thereafter or as provided by the special resolution that made the alteration.

2. Details: Informing the ROC about amendments in the registered office of the company.

• Resolution Filing (Form MGT-14)

1. Due Date: Within 30 days after the resolution of the meeting, or within such other period as may be approved by the Board.

2. Details: Filing for various resolutions passed by the board or shareholders.

• Annual Filing for LLPs

1. Due Date: For the LLPs Form 8 also the Statement of Account & Solvency is to be filed within thirty days and Form 11 the Annual Return is to be filed within sixty days of the closing of the specific financial year.

2. Details: Form 8 represents the solvency status and the ability of the LLP to meet its financial obligations and Form 11 reflects the basic data of the LLP such as details about its Partners and any changes in the partnership structure during the financial year.

• Additional Forms

1. The form such as Form INC-20A for the declaration of commencement or Form INC-22A for verification of registered office has specific timeline related to the event in question.

Penalties for Delay

• The penalty as determined by the authority depends on the form filed, the amount of time it took to file the return and the filing type often rises with time.

Importance of Compliance

• Compliance for companies and LLPs is crucial to ensure adherence to legal and regulatory frameworks, safeguarding their credibility and reputation. It helps avoid penalties, legal actions and disruptions to business operations while maintaining transparency with the stakeholders. Timely compliance also fosters trust amongst the investors, clients, regulatory authorities thereby contributing to the long-term growth and stability of one’s business.

Resources

• For the latest updates on filing requirements, penalties, and formats, always refer to the Ministry of Corporate Affairs (MCA) website.

For specific scenarios or any recent changes, consulting a professional (like a company secretary) is advisable.

General Information

• Filing Method: All the filings are done on the Ministry of corporate affairs (MCA) website online.

• Documents Required: Financial reports and income statements, audit papers, meeting and other legal records, annual reports, and other mandatory records, papers, and documents.

• Compliance: If the documentation is not filed on time, hefty penalties are imposed on the company’s officers as well.

Late Fees and Penalties

• Subsequently, additional fees are imposed according to the number of days that have elapsed beyond the due period for fillings.

• Non-compliance penalty may further lead up to legal actions being taken against the organization, and several other repercussions.

Importance of Early submitting

• Filing is an important corporal legal requirement that promotes accountability, compliance with statutory regulatory measures and legal compliance.

• They also have a significant function as to corporate governance as well as accountability.

Any information relating to particular days, papers, and charges concerning your company should be obtained from the official MCA site or from a company secretary.

Disclaimer

The information provided in this blog is purely for general informational purposes only. While every effort has been made to ensure the accuracy, reliability and completeness of the content presented, we make no representations or warranties of any kind, express or implied, for the same. 

We expressly disclaim any and all liability for any loss, damage or injury arising from or in connection with the use of or reliance on this information. This includes, but is not limited to, any direct, indirect, incidental, consequential or punitive damage.

Further, we reserve the right to make changes to the content at any time without prior notice. For specific advice tailored to your situation, we request you to get in touch with us.