8815-0000-71
Company Law

Tax Simply Services / Company Law

Company Law (Ministry of Corporate Affairs)

Company Law (Ministry of Corporate Affairs)

Compliances under the Companies Act 2013

A company which has been incorporated in India must ensure compliance with the Companies Act, 2013.

  • The Companies Act, 2013 regulates appointment, qualification, remuneration, and retirement of directors of the Company.
  • Aspects such as how to conduct Board Meetings and Shareholders Meetings.
  • The preparation and presentation of annual accounts and the regular maintenance of books of accounts.

Here are some important compliance's post incorporation :

In the first board meeting, the Company is required to appoint its first Auditor within 30 days of incorporation.

  • It is necessary for the company to have its name board outside its registered office, along with its name, Company’s Identification Number, registered office address, phone number and e-mail Id, fax number and website address, etc.
  • It is very important for the company to have a PAN (Permanent Account Number) and TAN (Tax Deduction and Collection Account Number) right after its incorporation. Even to open a Bank Account in India these are the basic credentials are required.
  • Issuance of share certificates to the shareholders is also an important requirement, and all details of such issuance of share certificate are required to be maintained and mentioned in the register of allotment.
  • Maintaining and filing of Profit and Loss Account, Balance Sheet, and Annual Return every financial year together with an auditor’s report before the due date with the Registrar of Companies is a very vital requirement of the company act which a company has to endeavor.
  • Every company is required to maintain certain Statutory Registers under Section 85, Section 88 etc of the Companies Act, 2013 and required to keep and maintain at its registered office in the prescribed form. In case of any failure in maintaining the statutory register, the company, as well as directors, may be fined and prosecuted.
  • The company is also required to conduct minimum 4 board meetings during the calendar year at stipulated intervals and also ensure that all the minutes of the board meeting are safely retained until the company exists. The minutes of the meeting required to be prepared within fifteen days of the meeting and can be finalized within thirty days of the meeting.
  • The Companies Act has also inserted the CSR (Corporate Social Responsibility) provisions in the Companies Act, 2013. Now, under provisions contained under the Corporate Social Responsibility, companies are obligated to make the contribution in certain philanthropic activities. Companies must adhere to the CSR criteria and undertake CSR activities in the financial year.
  • The aforesaid compliance requirements only apply to the Companies Act, 2013. In addition to this, further registration is required, depending on business type and turnover, such as Professional Tax, GSTN etc. It is important to note that the responsibility of a company to comply with all rules and regulations provided in the Companies Act is not a one-time thing, but is a continuous affair.

Incorporation & Formation :

  • Private / Public Limited Co
  • OPC (One Person Company)
  • LLP

Post Incorporation compliances :

  • Share Stamping
  • ADT-1 - Appointment or Re-appointment of a Statutory Auditor
  • INC-20A - Declaration of Commencement of Business
  • Form INC-22 - Change of address
  • Form DIR-12 - Change in Directors
  • Charge Creation or Satisfaction (e-form CHG-1 or CHG-4),
  • Increase in Authorized Capital (Form SH-7)
  • Increase in Paid up capital
  • Alteration of MOA/AOA with regard to Name Change,
  • Change of object etc, Filing of fresh FC-GPR, FC-TRS

Increase in Authorized Capital :

  • Right Issue
  • Private Placement
  • Preferential Allotment

Annual Filing :

  • DPT-3 - Return of Deposits
  • DIR-3 KYC - Director KYC submission for DIN
  • Form ADT-1 - Appointment of Auditor
  • Form AOC-4 - Filing of Annual Accounts
  • MGT-7 - Filing of Annual Returns
  • MGT-14 - Filing of Resolution with MCA
  • Form MSME Outstanding payments
  • Form CSR-2 - Report on Corporate Social Responsibility
  • Form-11 - Annual Returns of an LLP
  • Form 8 - Financial Reports of an LLP
  • MGT-9 - Information about Company Shareholding Pattern
  • AOC-2 - Disclosure of particulars of Contracts/Arrangements entered into by the Company.

Annual Compliance :

  • Minutes of Board meetings includes - Notice, Agenda,
  • Attendance sheet, Minutes, CTC
  • Minutes of General Meeting (AGM & EGM) - Notice,
  • Agenda, Attendance sheet, Minutes, CTC
  • E-Form DPT-3
  • E-Form BEN-2
  • Form FLA, if applicable
  • Dividend Distribution

Maintaining of Statutory Registers :

  • Register of Members
  • Register of Directors and their Shareholdings
  • Register of Charges, if any
  • Register of Load, Guarantee, Security
  • Register of Contracts with Related Party
  • Register of Investments not held in its own name
  • By the company
  • Share Transfer/ Transmission Register etc
  • Visit to Office as required

Misc Compliances :

  • Buyback of shares
  • Compounding of offence
  • Condonation of delay
  • Adjudication
  • Any NCLT or RD Matters

Brief Area of Practice :

  • Corporate Compliance - Secretarial Audit / Due Diligence / Annual Compliances etc.
  • Corporate Restructuring - Merge / Amalgamation / Acquisition / Takeover / Winding Off / Conversion of Status of the company etc.
  • Listed LODR Compliances (Annual / Half Yearly / Quarterly / General Compliance) Including- Corporate Governance Report / Issue of Compliance Certificate / Report on Reconciliation of share Capital / Certificate on Annual Secretarial Compliance etc.
  • FEMA Compliance - FC-CPR / FC-TRS / FLA etc.
  • Dealing with Various Authorities - ROC / RD / NCLT / RBI / OL / SEBI / Stock Exchange etc.
  • Intellectual Property Rights (Trademark, Copyright, Patent & Design) - Registration / Hearing / Opposition / Renewal etc.