MCA COMPLAINCE
MCA Compliance
The Ministry of Corporate Affairs provides a comprehensive list of MCA compliance requirements. These forms are made following company law and are now part of the compliance management system.
A Complete Guide to MCA Compliance
Regulatory compliance, also known as corporate compliance, refers to an organisation’s awareness of and adherence to all rules and regulations about its activities and industry. The local, state or federal governments may impose these compliances.
MCA compliance plays a crucial part in any organisation to operate properly. A few particular advantages are:
What forms are required to be filed with MCA?
The table below contains detailed information on the forms in the MCA compliance chart, including their purpose, applicability, and applicable due dates.
Compliance for Limited Liability Partnership
Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
LLPs (Limited Liability Partnerships) are a type of Modern Corporation. It is a hybrid form that combines elements of a company and a partnership (i.e. limited liability with flexibility). Limited liability partnerships are founded and governed under the Limited Liability Partnership Act of 2008 and its implementing rules, referred to as the Limited Liability Rules of 2009. Reffer to LLP Complaince page for detailed info.
Following is the list of E-Forms to be filled with MCA by LLPs:
Compliance for Private Limited Company
An organisation that is privately held for small businesses is a Private Limited Company. The Companies Act of 2013 defines a Private Limited Company as an organisation whose Articles of Association restrict the transferability of shares and forbid the public from subscribing to them.
Compliance for Public Limited Company
A Public Limited Company, commonly known as a PLC under the Company Act 2013, is a company with limited liability that offers shares to the general public. Anyone can purchase its stock through trades on the stock market or private initial public offering (IPO).
A public limited company must adhere to strict regulations and disclose its financial condition to its shareholders.
Following E-Forms are required to be filled with MCA by a Public Limited Company:
Compliance for Section 8 companies
Section 8 firms are incorporated under the Companies Act; thus, they must adhere to all annual complaince like any other company. The term ROC is also known as Registrars of Companies. Section 8 Companies are required to file their audited financial statements with ROCs under Section 129 and Section 137 of the Companies Act of 2013.
Following E-Forms are required to be filled with MCA by a Section 8 company:
Form MGT-7
MGT-7 is an annual return of the company. It must be filed within sixty days of the last annual general meeting (AGM).
AOC-4
AOC-4 is the financial statement of the company. The form is required to be filled within 30 days of last AGM.
Compliance for One Person Company
As per sub-clause 62 of Section 2 Companies Act of 2013, a One Person Company also known as OPC is a company with only one member. It is incorporated as a single-member private corporation. Therefore, a corporation can be registered with only one shareholder or member. Any natural person who is an Indian citizen, regardless of whether they reside in India or not (NRI) (the only condition is they need not be a minor), is qualified to form a One Person Company.
Following E-Forms are required to be filled with MCA by a One Person Company:
Digitization
- Robust legal compliance tool replacing spreadsheets and manual processes
- Enhancing visibility & accountability
- Reducing the information & knowledge gap
AutoMation
- Automated legal updates
- Automated legal compliance system with reminders and escalations
- Automated workflows, dashboards & reports
Complaince
- Ensures compliance with all applicable laws
- Helps to avoid penalties, prosecutions & litigation
- Helps implement better processes and controls enabled by technology