The Mandate of the Registrar of Companies (ROC)
Every Private Limited Company incorporated in India must file annual compliance forms with the Registrar of Companies (ROC) under the Ministry of Corporate Affairs (MCA). Keeping up with these compliance filings is essential to avoid heavy daily late fees and protect directors from disqualification.
Core Compliance Milestones
- Board Meeting to Approve Accounts: Directors must convene a board meeting to review and approve financial accounts (P&L and Balance Sheet).
- Hold Annual General Meeting (AGM): The AGM must be held within 6 months from the end of the financial year (i.e. by September 30th).
- File Form AOC-4: Submit audited financial reports, directors’ reports, and audit certificates to the ROC within 30 days of the AGM.
- File Form MGT-7: Submit the company’s annual return details, including shareholders, directors, and share transfers, within 60 days of the AGM.
Penalties for Delayed Filing
Late filing of AOC-4 or MGT-7 attracts a penalty of Rs. 100 per day per form. Additionally, directors can face disqualification under Section 164 of the Companies Act if filings are missed for three consecutive years.