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If a company fails to file its Annual Return for three consecutive financial years, any person who has served as a director or is now serving as a director of that company may be disqualified under the Companies Act, 2013. If a Director is disqualified, his or her DIN becomes inactive, and the person is ineligible to be nominated as a Director of any company for a period of five years after the disqualification date.
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ROC Annual Filing

An Overview- ROC Filing of Startup Companies

Companies incorporated under the Companies Act 1956 or the Companies Act 2013 are obliged to file the MCA eForms with the Registrar of Companies as part of their annual filing (ROC).

According to The Companies Act, 2013, every company must file its annual accounts and annual return within 30 days and 60 days, respectively, from the conclusion of the Annual General Meeting.

Failure to follow the rules may result in penalties and fines for the officers, the company, or the directors. As a result, it is critical for a company's management employees to be aware of all required compliances and to comply on time.

Documents Required for ROC Filing

When filing the ROC, each company must attach certain documents. They all are:

  • Audited Financial Statement
  • Notes to Accounts
  • Board Report
  • Cost Audit Report (if Any)

ROC Filing E-Forms

Form ADT-1

The purpose of this form is to appoint the auditor.

  • Attachments: It consists of an appointment letter and confirmation letter.
  • Due date: The due date of filing this form is 15 days from the date of AGM conducted.
  • Applicable: It is applicable for the private companies, public limited companies, one-person companies, and listed companies.

Form AOC-4 and AOC-4 CFS

This form is used for filing of annual accounts.

  • Attachments: It consists of Board Report along with annexures like MGT-9, CSR Report, AOC-2, Corporate Governance Report, a Secretarial Audit Report, etc. as per the nature of Company and financial statements.
  • Due date: The due date to furnish this form is 30 days from the date of AGM conducted (180 days from the close of financial year in case of OPC).
  • Applicability: It is applicable for the Private Companies, Public Limited Companies, One Person Companies.

Form MGT-7

This form is used for filing of annual return.

  • Attachments: Details of the shareholders, debenture holders, MGT-8 and Share Transfer.
  • Due date: Due date is 60 days from the date of AGM conducted.
  • Applicability: It is applicable for private companies, listed companies, one person companies and public limited companies.

Consequences of Non Filing/Late Filing on MCA Portal

Every company has to furnish financial statements along with the applicable documents

What if Company fails to furnish AOC-4 within 30 days of AGM?

Late Fees

If a company fails to file its financial statements within 30 days from the date of AGM conducted, additional fee of Rs.100/day will be levied.

Penalty

For non/ late filing of AOC -4, every director and the company is liable for following Penalties:

  • The company will have to pay a penalty of Rs. 1,000/- for each day after the due date. But penalty will not be more than Rs. 10,00,000/- and
  • All of the company's directors are liable to a penalty of Rs. 1,00,000/-, with an additional penalty of Rs. 1,000/- for each day after the first during which the failure continues, up to a maximum of Rs. 5,00,000/- if the failure continues.

What if a Company fails to furnish MGT-7 within 60 days of AGM?

Late Fees

If a company fails to furnish the annual return within 60 days from the date of AGM conducted, Company will have to pay an additional fee of Rs.100/day.

Penalty

Penalty in case of non/ late filing of form MGT-7:

  • A penalty of Rs. 50,000/- will be imposed on the company and each of its officers who is in default, with an additional penalty of Rs. 100/- for each day that the failure continues, up to a maximum of Rs. 5,00,000/-.

Effect of Non filing of the Forms AOC-4 and MGT-7 on Company

If a company has not filed its Annual Return for the previous two financial years in a row, it is considered an "inactive company." The company's bank account could be frozen as a result of this classification. In addition, the Registrar may issue a notice to the Company and begin the process of striking off the company from the MCA records.

Effect of Non filing of the Forms AOC-4 and MGT-7 on Directors

If a company fails to file its Annual Return for three consecutive financial years, any person who has served as a director or is now serving as a director of that company may be disqualified under the Companies Act, 2013.

If a Director is disqualified, his or her DIN becomes inactive, and the person is ineligible to be nominated as a Director of any company for a period of five years after the disqualification date.

FAQs on ROC Filing on MCA Portal

An annual return is a record of publicly available information about your company that appears on the Companies Register, not a financial document. Your address, as well as the names and addresses of your directors and shareholders, must be updated each year via an annual return.
It is necessary to furnish ADT-1 form within the 15 days of Auditors appointment in the annual general meeting.
AOC – 4 is required to be filed with ROC within the 30 days from date of annual general meeting.
MGT - 7 is required to be filed with ROC within the 60 days from date of annual general meeting.

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