Registrar Of Companies Regulator For Companies & LLP In India

In India, regulatory authorities are constituted by law for the implementation and administration of law. One of the regulatory authorities

Registrar Of Companies Regulator For Companies & LLP In India

In India, regulatory authorities are constituted by law for the implementation and administration of law. One of the regulatory authorities in India is the Registrar of Companies (ROC) for regulates all companies and Limited Liability Partnerships (LLP) in India.

 

Registrar of Companies is empowered to regulate all the companies and their subsidiaries set up in India as well as outside India by Indian parties. Starting from incorporation of a company to its winding up it is regulated by ROC. ROC needs to exercise strict control over companies to ensure that Companies and LLPs comply with statutory requirements as laid under the Act, rules, guidelines, notifications, and circulars as may apply to them. The primary act governing a Company is the Companies Act, 2013 (erstwhile Companies Act, 1956)and rules and regulations framed there under where companies need to report to ROC on an event basis and/or periodic basis.

Apart from companies, ROC also regulates Limited Liability Partnerships (LLP) the governing law of LLP is the Limited Liability Partnership Act, 2008, and rules and regulations framed there under where statutory duty has been cast upon LLP for event-based or periodic reporting to ROC.

All companies and LLPs are registered entities under ROC and are required to follow regulations and meet all the compliance requirements of ROC. Any non-compliance by companies and LLP, ROC has been empowered to impose penalties or take strict action including imprisonment against Directors, Promoters, and Key Management. In extreme cases, ROC is empowered to strike off the company or LLP.

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ROC has gone through a lot of transition in terms of submission of documents, filing of applications, etc. In earlier days all the filing with ROC including compliance documents, charge documents, and approval applications were made physically and it used to be a big task to retrieve information from ROC records. However, currently most of the document retrieval, filing of forms, compliances, and application is done online. ROC is one of the government organizations that adopted technology early.

To ease the filing requirements of companies and LLPs, ROC has started a Go-green Initiative wherein Companies and LLPs are required to do all their filings and report to ROConline through its official website https://www.mca.gov.in. All The filings done by Companies and LLP are stored in a database that can be inspected by the public by paying a prescribed fee and conducting a search through the MCA website for the required company.

ROC organization is spread across various States and Union Territories having its presence in Hyderabad, Shillong, Patna, Bilaspur, Ranchi, Delhi, Goa, Ahmedabad, Jammu and Kashmir, Bangalore, Ernakulum, Gwalior, Mumbai, Cuttack, Pune, Puducherry, Chandigarh, Jaipur, Chennai, Coimbatore, Kanpur, Kolkata.

All these ROC offices are also under the administrative control of the Central Government within the Ministry of Companies Affairs. However, Regional Directors have been empowered to exercise control over ROC.

At present, there are seven Regional Directors (RD) situated in seven different regions comprising of Eastern Region, Southern Region, Northern Region, Western Region, North Western Region, South East Region, and North Eastern Region.

ROC also liaises with various other bodies like the Institute of Chartered Accountants of India (ICAI), the Institute of Company Secretaries of India (ICSI) the Institute of Cost Accountants of India, the Competition Appellate Tribunal and the National Foundation for Corporate Governance which are constituted under the the separate Acts.

Please visit https://www.volody.com/ to avail the services.

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