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Hundreds of people dream of establishing their own business. To be able to do that, you need to register your company with the Ministry of Corporate Affairs. But after the incorporation of the companies, who takes care of these companies and who makes sure that these companies are operating according to the guidelines of the Companies Act.
For this task, Registrar of Companies, India was established for supervising and administering the Companies and Limited Liability Partnerships registered. For detailed information about the ROC, read the rest of the blog.
Registrar of Companies is a body under the Ministry of Corporate Affairs established as per section 609 of the Companies Act 1956. This act is applicable in most of the states and union territories. The major objective of this body is to register the companies and limited liability partnerships and to overlook the functioning of these companies as per the guidelines mentioned in the act. There are 22 Registrar of Companies offices at present with more than one ROC in states like Maharashtra and Tamil Nadu. These offices act as a registry of records for all the companies registered with them. These companies are open for general inspection by the members of the public upon the payment of a minimal amount. The central government is responsible for supervising this unit of the Ministry of Corporate Affairs via the respective regional directors. As per the current statistics, there are seven regional directors administering this body as per the regions divided.
The Registrar of Companies also ensures that Limited Liability Partnerships are complying with the principles mentioned in the Companies Act, 2013.
A company can't exist legally if they don't have a certificate of incorporation. The certificate of incorporation is issued by the Registrar of Companies once the company has submitted all the mandatory documents and decided on certain statutory requirements. For the statutory requirements, the company needs several documents like:
Once the verification process is completed by ROC, the company's name is registered and the certificate of incorporation is released. Along with the certificate of incorporation, a certificate of commencement of business is also issued. Acquiring a certificate of commencement of business is imperative for a public limited company as without it the company can't start its functions.
You might not be able to acquire a certificate of incorporation if the ROC refuses the application which is well within it's right on several grounds. To register a company, the person submits Memorandum of Association (MoA) with the registrar's office. The memorandum of Association consists of five clauses and they are:
It is the registrar's responsibility to ensure that no company with objectionable name is registered. Any company with any unlawful or illegal objectives can also be rejected and not registered by the ROC.
So, in short, you need to be very careful with regards to the details regarding your company.
Even after company registration, ROC has certain areas which needs supervision. ROC looks after the registered companies and keeps a tab on the functioning of the company. It makes sure that companies are functioning according to the rules and regulations prescribed. Apart from this, you will have to contact ROC if you need to change the name/objectives of the registered company. For this, an individual needs to contact ROC to complete the formalities according to the law.
If any new resolutions are being passed by the company, it is mandatory that the company is filing those resolutions with Registrar of Companies within 30 days of passing the resolutions. This has been mandated by section 117 of the companies act 2013. It is imperative that ROC has records of all the resolutions passed by all the registered companies. Failing to do so within a stipulated time is liable for the penalty as stipulated under the said section. The resolutions could be about anything like the appointment of new directors or managing directors, selection of sole-selling agents, the release of a prospectus, and resolutions related to the voluntary shutting down of companies.
As mentioned above, there are 22 registrar of companies offices in India. To get detailed information about these offices like their address, fax number, appointed officer, you can simply click on the link.
On this link, you can find all the information related to the Registrar of Companies offices.
