Registrar of Companies
In India, regulatory authorities are constituted by law for implementation and administration of law. One of the regulatory authorities in India is Registrar of Companies (ROC) for regulating all companies and Limited Liability Partnerships (LLP) in India.
Registrar of Companies is empowered to regulate all the companies and its 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, circulars as may be applicable to them. The primary act governing a Company is Companies Act, 2013 (erstwhile Companies Act, 1956)and rules and regulations framed there under where in companies needs to report to ROC on event basis and/or periodic basis.
Apart from companies, ROC also regulates Limited Liability Partnership (LLP)and the governing law of LLP is Limited Liability Partnership Act, 2008 and rules and regulations framed there under where in statutory duty has been cast upon LLP for event based or periodic reporting to ROC.
All companies and LLP are registered entities under ROC and required to follow regulations and meet all the compliance requirements of ROC. Any non-compliance by companies and LLP, ROC have been empowered to impose penalties or take strict action including imprisonment against Directors, Promoters and Key Management. In extreme case, ROC is empowered to strike off the company or LLP.
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ROC has gone through 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 application were made physically and it used 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 organization adopted technology early.
To ease the filing requirements of companies and LLP, ROC has started a Go-green Initiative wherein Companies and LLP are required to do all their filings and reporting to ROConline through its official website http://www.mca.gov.in. All The filings done by Companies and LLP are stored in a database which can be inspected by public by paying a prescribed fees and conducting out a search through 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 administrative control of Central Government within 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.
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ROC also liaises with various other bodies like Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI) and the Institute of Cost Accountants of India, Competition Appellate Tribunal and National Foundation for Corporate Governance which are constituted under the separate Acts.
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