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

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

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. Registrar Of Companies 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 wherein companies need to report to the Registrar Of Companies on an event basis and/or periodic basis.

Registration of Companies

The Registrar of Companies India is the official agency that deals with the administration of the Companies Act 1956 & Companies Act, 2013. It falls under the Ministry of Corporate Affairs. It has offices in all major states of India. The Registrar of Companies is the primary regulator for company-related matters in India. It is popularly known as the Registrar Of Companies. It is the Government agency that deals with the regulation and Management of all types of Companies covered under the Companies Act 1956 & Companies Act 2013 in India i.e. Private Limited & Public Limited. The Registrar of a Company takes care of Company registration (Also known as Incorporation or Setup) in India, complete reporting and regulation of Companies w.r.t its Directors and shareholders, and Government Reporting of various matters including the annual filling of various documents.

Limited Liability Partnership

Apart from companies, the Registrar Of Companies also regulates Limited Liability Partnerships (LLP) the governing law of LLP is the Limited Liability Partnership Act, 2008 and rules and regulations framed thereunder wherein statutory duty has been cast upon LLP for event-based or periodic reporting to Registrar Of Companies. Registrars of Companies (ROC) appointed under Section 609 of the Companies Act covering the various States and Union Territories are vested with the primary duty of registering companies and LLPs floated in the respective states and the Union Territories and ensuring that such companies and LLPs comply with statutory requirements under the Act.

These offices function as a registry of records, relating to the companies registered with them, which are available for inspection by members of the public on payment of the prescribed fee. The Central Government exercises administrative control over these offices through the respective Regional Directors. Registering a startup or a new business in India first and foremost one has to go by, there are some official procedures a startup or a company has to follow to register in Indian official records, MCA (ministry of Corporate Affairs) has to make the registration process online a few years back,

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

Registrar Of Companies 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.

You May also be interested in Reading: Features of CLM Software

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 data.

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

Want more content like this? Sign up for our monthly newsletter.

You have been successfully Subscribed! Ops! Something went wrong, please try again.

You might also like: