Event Based Compliance(Private LimitedCompany)
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Annual Compliance Checklist
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Event-Based Compliances for Companies - An Overview
Event-based compliances are mandatory compliances which are apart from the usual and mandatory periodical and annual compliances made by the company with ROC and other concerned administrative authorities. This event-based compliance is compliance-related to any extrinsic events, unforeseen tasks or new dimensions of an organization. To stay legally comprehensive, explore various event-based company compliances. During the registration process for a new business, the procedure seems to be the most important part. However, once a private limited company is incorporated under the provisions of the Companies Act 2013, it needs to have a lot of abilities on several juncture occasions.
In stock, event-based company compliances are frequent, one-time, or occasional statements or agreements, which are both needed by the authorized laws or are desirable to stay legally perfect and secured. Each and every change in any registered documents associated with the organization is to be filed suitably to the authorized ROC and other regulatory or statutory authorities. Additionally, the directors of the company must be sure that the business activities of the company do not divert from the rules and regulations mentioned in its AOA and MOA. The company works in a fully reliable and responsible manner without making any willful or illegal negligence of its duties and responsibilities, primarily including disclosure of correct information related to the concerned people and companies and about its business activities and current financial status.
Event-based ROC Compliances directed at a Private Limited Company
There are various compliance forms that are expected to be submitted by a private limited company to acquaint the ROC regarding the modification or alternation or changes made within the Company. Some of the event-based tractability is mentioned below with the relevant form to be filed:
|
E-Form
|
Kinds Of Compliances
|
Legal Provision
|
|---|---|---|
|
DIR-12
|
Transformation in Director
|
Section: 149
|
|
SH-7
|
Change in authorized Share Capital
|
Sections: 61 and 64
|
|
PAS-3, MGT-14
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Return of Allocation
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Section: 62
|
|
CHG-4
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Filing of Satisfaction of Charge
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Section: 82
|
|
CHG-1
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Modification and creation of Charge
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Section: 77
|
|
INC-22
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Fluctuating of Registered Office inside the same city, village or town without modification in the jurisdiction of ROC
|
Section: 12
|
|
ADT-3
|
Resignation of authorized Statutory Auditor
|
Section: 140
|
|
INC-23, INC-28, MGT-14 And INC-22
|
Fluctuating of the Registered Office exterior of the same city, village or town with the change in the jurisdiction of ROC
|
Sections 12 and 13
|
|
DPT-3
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Return of Deposits with the Company
|
Section: 73
|
|
Form MSME
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Return for Delay in prescribed payments to MSMEs
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Section: 405
|
|
AOC-5
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Additional place other than the registered office where the books or reports of accounts and statutory registers are being maintained
|
Section: 128
|
|
MGT-14
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Filing of Resolutions and Agreements to the concerned ROC
|
Section 117 and Section 179
|
|
BEN-2
|
Disclosure of Substantial Beneficial Ownership or SBO
|
Section: 90
|
Event-Based Compliances by Different Companies as per the Companies Act 2013
This particular section deals solely with the various event-based compliances by different types of companies to be made under all the rules, provisions, and regulations related to the Indian Companies Act of 2013, the Securities and Exchange Board of India (SEBI), RBI, FEMA, and various relevant Legal Acts and Statutes. The Chennai-based and nationally famous law firm has a flowery pool of well-knowledged and veteran corporate lawyers, Company Secretaries, Chartered Accountants, Intellectual Property Lawyers, and other legal professional people to help and guide in all different types of companies in executing timely and perfect their respective event-based compliances with the regulatory and governmental authorities.
Based upon the type of a company and its particular business and service activities, reporting or compliances associated with the bulk of most of the following adventitious or contingent tasks, events, or business activities may be required:
1. Obtaining DSCs, DINs, DPINs, and so on.
2. Keeping and updating statutory records and registers.
3. Removing or adding a director or designated partner.
4. Drafting Resolutions/Minutes associated with the Board / Committee/ General Meetings.
5. Changing the name or address of the company.
6. Modification in the MOA and AOA or LLP agreement.
7. Changing the company’s authorized capital.
8. Changing in bank signatories.
9. Resignations and Appointments of Directors/Auditors.
10. Issuing or Allotment or Transfer of company shares.
11. Share transfer or transactions and issuance of share certificates .
12. Expansion or Diversification of Business/Service.
13. Sub-division or share consolidation.
14. Business transformation or Restructuring of the business.
15. Accomplishing appropriate agreement with related parties .
16. Right issues.
17. Private placements.
18. ROC compliances auditing.
19. Disqualified directors.
20. Getting or updating the licenses needed by the company.
21. Drafting or making amendments to several contracts of the organization with outside people or entities.
22. Registration, Protection and Maintenance of the referred Intellectual Property Rights.
23. Due Diligence and related compliances related to Mergers & Acquisitions, Joint Venture, FDI, and so on.
24. Contingent compliances associated with Stock Exchanges, IPO and various relevant provisions, rules and regulations of the SEBI.
25. Compliances related to FDI in India, like those under RBI, FEMA, and so on.
Importance of Event-Based Compliance:
Legal Compliance: Event-based compliance ensures that businesses are legally protected and that they adhere to regulatory obligations whenever specific events take place, preventing penalties or legal issues.
Transparency: It ensures transparency in the operation and structure of the business, providing timely information to stakeholders, authorities, and other third parties involved in the business.
Protection of Business Interests: By adhering to event-based compliance, businesses protect their interests in case of audits, disputes, or other legal proceedings, as these filings help to maintain proper documentation of significant events.
Business Growth and Restructuring: Event-based compliance is crucial when businesses go through changes, such as mergers, acquisitions, or changes in ownership. It ensures that such transitions are legally sound and recognized by authorities.
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FAQs
Yes, CSR requires mentioning The company needs to file E-Form INC-22 to the ROC if there is any change in the registered office of the company.
