What are the compliances under MCA/ROC?

What are the compliances under MCA/ROC?

ROC Compliance Calendar 2021-22- (Due dates for ROC Filing forms)

It is important for the companies and LLPs to file all the important ROC filing forms within the specified due dates. The companies and LLPs which fail to comply with the ROC filings may have to pay a heavy penalty. Thus, it is important for the companies and LLPs should keep in mind the due dates for ROC compliances (ROC Annual Filing) to be followed annually and on the occurrence of any events.

Here, we have prepared ROC Compliance Calendar for the due dates falling in the year 2021-22


MANDATORY COMPLIANCES & PENALTY

(Applicable for all companies under companies act, 2013)

Compliance to be done
When is this compliance to be done?
Penalty for Non-compliance
1. Issue of Share Certificates
The company must issue the Share Certificates to its shareholders within 2 months of its Incorporation or new allotment
  • Company: Fine from Rs. 25,000 which may extend to Rs.500,000.
  • Directors: Fine from Rs. 10,000 which may extend to Rs. 100,000.
2. Statutory Registers
7 to 8 Mandatory Registers to be maintained and updated from time to time
  • Penalty: Rs. 50,000 which may extend to Rs. 3,00,000 and
  • Further fine: Rs. 1,000 day for which the default continues.
3. Board Meeting Compliances
  • 1st Board Meeting thirty days of date of incorporation and
  • One Board Meeting to be held in each quarter of the financial year.
  • Minutes of meeting to be prepared,Notice of Meeting should be given
  • Attendance Register of every meeting to be maintained.
  • Company: Fine from Rs. 25,000 and
  • Director in default: liable to a penalty of Rs. 5,000.
  • Non-compliance in Issue of Notice of Meeting, Director shall be liable to a penalty of Rs. 25,000.
4. Annual General Meeting (AGM) Compliance
  • AGM to be held every year
  • Minutes of AGM to be prepared
  • Notice of AGM should be given in advance.
  • Attendance Register of every General meeting to be maintained.

Default in holding AGM:

  • Company and Directors: in default shall be punishable with fine which may extend to Rs. 1,00,000 and
  • Rs. 5,000 for every day of delay

Minutes Book Maintenance:

  • Company: Penalty upto Rs. 25,000
  • Directors in default: shall be liable to a penalty of Rs. 5,000.
5. Annual ROC Filings

w.e.f 01/04/2014

  • Filing Annual Return (MGT-7)
  • Filing Financial Statements (AOC-4)
  • ADT-1 (Auditor Appointment)
  • Every company is required to file its Annual Return(MGT-7) with the ROC within 60 days of AGM.
  • The Financials(AOC-4) also to be filed within 30 days of AGM.
  • The Auditor Appointment (ADT-1) to be filled within 15 days from the AGM.
  • Additional ROC Filing Fees: Upto 12 times of normal filing fees for each Form separately i.e. MGT-7, AOC-4 & ADT-1 (Depending on the Delay time) 

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  • Company: Shall be punishable with fine of Rs. 50,000 which shall extend to Rs. 5,00,000 and
  • Director in default: shall be punishable with imprisonment upto 6 Months or with Minimum Fine of Rs. 50,000 which may extend to Rs 5,00,000 or with both.

It is important for the companies to make a note of all these due dates for ROC Annual filing falling in the year 2021-22. However, the above mentioned dates are subject to change and extension as and when notified by the concerned department of the Government.