Blog Details

Author - Associate Aswini Ramesh

Registering your company is just the first step of running a successful business. The companies act, 2013 replaced the previous companies act and it is one of  the most significant legal reforms in India to bring Indian company law on par with global standards. Under the Companies Act, 2013, there are certain mandatory compliances that needs to be  followed by every company regardless of the nature of business, type the company etc., 

Once a company is registered with the Registrar Of Companies (ROC) the following are the mandatory compliances that are required to be followed by every company :

• Verification Of Registered Office

Within 15 days of the incorporation of the company and all times thereafter, a company is required to have a registered office for receiving and acknowledging all official communication and notices to be address to it. Verification of the registered office is to be filed in FORM INC -22 within 30 days of the incorporation of the company. 

• Display Of Company Name And Details 

All companies are required to have their name board outside their registered office, along with its name, Company Identification Number (CIN), registered office address, phone number, E-mail address, Fax number and website.

• Meeting Of Board Of Directors

In any company the first meeting of the Board of Directors should be held within 30 days of incorporation of the company.Also four board meetings are needed to be held every financial year such that the gap between two consecutive board meetings is not more than 120 days.

• Disclosure Of Interest By Directors

All the directors in the first board meeting are required to disclose their interest in other entities in FORM MBP -1.

• Issuance Of Share Certificate

The company is required to issue share certificates to the members of the company within 60 days of its incorporation.

• Appointment Of Statutory Auditors

If it is a newly incorporated company, then Auditor may be appointed by either the Board Of Directors within 30 days of incorporation of the company , or may be appointed by the members in Extra Ordinary General Meetings in 90 days of incorporation of the company then ratification or re-appointment is required in every consequent Annual General Meeting Of the company.

• Filling Of Financial Statements

Within 30 days of Annual General Meeting every company is required to file its financial statements in FORM AOC- 4 which should be digitally signed at least by one director and is required to be certified by a company secretary or  a chartered accountant in practice. 

• Filing Of Annual Returns

All companies are required to file their annual returns with registrar of companies within 60 days of annual general meeting in FORM MGT- 7 and should be digitally signed by at least one director and is required to be certified by a practising company secretary if it is a large company.

• Maintenance Of Statutory Register

The following companies are required to be maintained by each and every company :

MGT- 1: Register Of Members

MGT- 2 : Register Of Debenture Holders

MGT- 3 : Foreign Register Of Members, Debenture Holders Other Security Holders or Beneficiary Residing Outside India

FORM SH- 2 : Register Of Renewed And Duplicate Share Certificate

FORM SH- 3 : Register Of Sweat Equity Shares

FORM SH-6 : Register Of Employee Stock Options

FORM SH- 10 : Register Of Shares or Securities Bought Back

FORM CH- 7 : Register Of Charges

• Corporate Social Responsibility (CSR)

As per the Companies Act, 2013 companies are required to make contributions in philanthropic activities. Companies should adhere to CSR criteria and undertake CSR activites in every financial year as specified under the act.