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What Are the ROC Compliances for Private Limited Company

ROC Compliances for Private Limited Company are very important for the smooth functioning and legal compliance of Companies. Companies can maintain the transparency, accountability, and trust among stakeholders by fulfilling these requirements. Directors & management of the company should stay updated with the evolving regulatory landscape. You can seek the guidance from professional like Legal Pillers to make sure about the flawless compliance.

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What Are the ROC Compliances for Private Limited Company

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  1. What Are the ROC Compliances for Private Limited Company? • Private limited company is the most popular choice of entrepreneurs who want to establish their business due to its numerous benefits. But along with benefits here come the responsibilities like ROC compliances. It can be complex to navigate the ROC compliances for Private Limited Company. Here, in this article we will tell you about the annual compliances of private companies in India.

  2. Board Meetings 01. • Private limited companies must have conducted at 4 board meetings and the first meeting should be held within 30 days of incorporation. The maximum gap between two boards meetings should be 120 days. ROC Compliances for Private Limited Company AGM (Annual General Meeting) 02. • First AGM i.e. Annual General Meeting should be conducted within 9 months from the closing of the first financial year. Thereafter, the AGM should be held within 6 months of the end of the financial year. There should be a gap of maximum of 15 months between 2 AGMs. Auditor Appointment 03. • Companies must have to appoint their first auditor within 30 days of incorporation for the five years. Auditor appointment will be done by using form ADT-1.

  3. Director Disclosure 04. • Directors of the company must have to file the form MBP-1 to disclose their interests in any other company. This disclosure should be made every year at the first board meeting. ROC Compliances for Private Limited Company Statutory Audits 05. • Every private limited company must have a statutory auditor to prepare/ verify the annual report & financial statements and to audit the financial report. Filing of Form MGT 7 06. • Company must have to file the form MGT 7 within 60 days from the date of AGM i.e. Annual General Meeting.

  4. Filing of Form AOC 4 07. • Company must have to file its financial statement including balance sheet, statement of Profit & Loss Account and director’s report within 30 days of holding AGM i.e. Annual General Meeting. ROC Compliances for Private Limited Company Filing form DIR-12 08. • Companies must have to file the form DIR-12 for the appointment/ resignation of the directors (if any) along with their consent within 30 days of appointment/ resignation. Filing DIR-3 KYC 09. • Directors of the company must have to file their KYC using form DIR-3 by 30th September of each year, providing their DIN that was allotted by Mach 31 of that year and the status is approved.

  5. Filing Form DPT-3 10. • Companied have to report the details of deposits and other non-deposit receipts annually before June 30 by using form DPT-3. ROC Compliances for Private Limited Company Filing Form MGT-14 11. • Companies must have to provide the details of the resolutions that have been passed in the board meetings within 30 days of passing the resolutions by using form MGT-14. Maintaining Statutory Registers 09. • Companies must have to maintain their statutory registers, minutes of board meetings, AGMs, creditors meetings, and debenture holder meetings.

  6. Conclusion • ROC Compliances for Private Limited Company are very important for the smooth functioning and legal compliance of Companies. Companies can maintain the transparency, accountability, and trust among stakeholders by fulfilling these requirements. Directors & management of the company should stay updated with the evolving regulatory landscape. You can seek the guidance from professional like Legal Pillers to make sure about the flawless compliance.

  7. Thank you very much! +91 9267941961 info@legalpillers.com www.legalpillers.com

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