Company Compliance

Companies must hold an Annual General Meeting (AGM) within 6 months of financial year end, file Form AOC-4 (financial statements) within 30 days of AGM, file Form MGT-7 (annual return) within 60 days of AGM, maintain statutory registers, conduct statutory audit, and comply with income tax and GST regulations.

Late filing of AOC-4 attracts ₹100 per day delay. Late filing of MGT-7 attracts ₹50 per day for small companies and ₹100 per day for others, with no maximum limit. Persistent non-compliance may result in disqualification of directors and striking off of the company.

Directors must file Form DIR-3 KYC annually by September 30 to update their KYC details including PAN, Aadhaar, mobile number, and email. Non-compliance results in deactivation of DIN (Director Identification Number) and penalties of ₹5,000 for late filing.

Companies must hold at least 4 board meetings in a year with not more than 120 days between meetings. Quorum requires 1/3rd or 2 directors (whichever is higher). Minutes must be maintained, and directors must disclose interests in contracts.

Form ADT-1 is filed to intimate the Registrar about the appointment of statutory auditors within 15 days of the AGM. It includes details of the auditor, their consent, and the resolution passed. Timely filing ensures compliance with Section 139 of the Companies Act.

Form DPT-3 is the return of deposits filed annually by June 30 to report deposits, outstanding receipts of money/loans not considered deposits, and compliance status. It ensures transparency in company's borrowing activities.

Non-compliance attracts penalties on the company and officers in default, disqualification of directors (up to 5 years), inability to file subsequent forms, prosecution, and potential striking off by the Registrar. It also affects the company's credibility and ability to raise funds.

Form ACTIVE (INC-22A) is filed to verify registered office details and active status of the company. Non-filing results in the company being marked as 'ACTIVE non-compliant' and prohibits filing of certain forms until compliance is achieved.

Companies must maintain registers of members, directors, charges, contracts, debenture holders, and beneficial owners. These registers must be kept at the registered office and updated regularly. They can be maintained electronically if they meet authenticity requirements.

A company secretary ensures compliance with the Companies Act, files returns with MCA, maintains statutory records, organizes board and general meetings, advises directors on governance, and ensures secretarial standards are followed. Listed companies and certain other companies must appoint a whole-time company secretary.