Company Law mandates multiple compliances for a company, few of which are routine & basic in nature. But many a times these are the ones that we fail to undertake. ROC non-compliance brings huge amounts of penalties & therefore it is imperative that we are aware of these basic but often over-looked compliances that every company has to do:
- Name of the Company should be prominently displayed at its registered office along with its CIN number.
- All letterheads and other documents should bear the CIN number of the company mandatorily along with its name & the registered office address.
- Share certificates have to be issued to the subscribers of memorandum within 60 days.
- Minutes of every meeting of the members & the directors are to be prepared & kept ready within 30 days of conclusion of each such meeting.
- Responsibility to file ADT-1 within 15 days from the date of appointment of the auditor is that of the company & not of the concerned auditor.
- Resignation details of a director are required to be displayed on the website of the company (if any).
- Disclosure of interest in form MBP-1 is required to be obtained from each Director in the first Board Meeting of every financial year.
- Board’s Report u/s 134 of the Companies Act 2013 should be signed by at least two Directors in case no “Chairperson” has been authorized by the Board.
It is imperative that every company is aware of these to ensure no monetary penalties are imposed on it and all secretarial standards are followed.