ROC Compliance under Companies Act, 2013 for Financial Year 2022-2023

Companies and LLPs operating throughout India are required to follow the yearly filing requirements outlined in the Companies Act, 2013 and the Limited Liability Partnership Act, 2008. Filing with the ROC should be done on an annual basis or when specific occurrences occur. In the early months of the new calendar year, 2022, the Ministry of Corporate Affairs published a number of notifications implementing new Compliances and reporting obligations in the Corporate Circle. Every Indian company must follow the terms of the Companies Act, 2013. Noncompliance results in a costly penalty that grows with each passing day or litigation and compounding of the case, disqualification of Directors, and ultimately the company being struck off.  In this article we’ll discuss ROC Compliance for FY 2022-2023.

Before we move upon to the ROC Compliance for FY 2022-2023, let us first understand the Registrars of Companies (ROC).

What is Registrars of Companies (ROC)?

According to Section 609 of the Companies Act, 2013, Registrars of Companies (ROC) for the various states and union territories are responsible for registering companies and LLPs formed in those states and union territories and ensuring that such companies and LLPs comply with the Act’s statutory requirements. These offices function as a registry of records belonging to the companies registered with them, which are available to the public for inspection upon payment of the permitted fee. These offices are administered by the Central Government through their various Regional Directors.

The annual filing of a company includes all documentation pertaining to the filing of audited Financial Statements and the Annual return, which includes the information that of the Financial Statements of the Company, Registered Office Address Certifications (if any), Details of the Shares and Debenture issued during the year and transferred, Register of Members as of the date of the end of the Financial Year, The details and information of Debt, and also about the changes in the Debt.

Calendar of ROC Compliance for FY 2022-2023

The Registrar of Companies mandates all companies registered in India to complete specific paperwork. Businesses in India must comply with these regulations regardless of their structure. As a result, every year, every Private Limited Company, Public Limited Company, Limited Liability Partnership, and so on must keep track of all the ROC Filing Due Dates. All companies and limited liability partnerships registered in India must comply with the ROC Annual Filing Compliances under the Companies Act, 2013 and the Limited Liability Partnership Act, 2008, respectively. There are both yearly and event-based compliances that necessitate ROC filing.

Our Experts will help you out through the process of Oppression and Mismanagement. Legal Window will help you to file your Income Tax Return, and GST Return. 

ROC Compliance for FY 2022-2023

Points to Ponder for ROC Compliance for FY 2022-2023

The following are the few points for consideration for ROC compliance:

• The yearly ROC compliance serves as a full reporting of the business practices that each company/LLP is required to disclose with the relevant authorities by the due date specified in the Companies Act, 2013 and Company Rules. Companies/LLPs are also required to file ROC papers with the Registrar of Companies. If any default happens in this regard, the underlying penalties will take effect.
• Annual forms are referred to in the ROC forms. In this scenario, the monthly filing requirement does not apply. The criteria to be filed with the Registrar concern the company’s fiscal details for the given fiscal year.
• A company/LLP can request a ROC form due date extension by submitting the specified form. The company/LLP must explain why such an extension is necessary.
• All companies expect OPC to convene their AGM within six months of the fiscal year’s end. If the fiscal year ends in March, the company shall hold an AGM before September 30th each year. However, in the case of the first AGM, the company may have the AGM no sooner than nine months after the conclusion of the first fiscal year. The duration between two AGMs should not be more than 15 months.

Endnote

Filing ROC annual compliance is a vital aspect of the Companies Act, 2013, and it must be followed by all companies. Non-filing carries fines and has harmed the company’s credibility. As a result, meeting these conditions before the deadline is advantageous.

Legal Window will help you to file your GST Return, GST Registration. Our Experts will guide you through the complex corporate compliances such as RBI compliance, XBRL Filing.