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Who is responsible for filing ROC?

Who is responsible for filing ROC?

Who is responsible for filing ROC?

ROC filing means filing annual returns and audited financial statements by the Company to the ROC. In India, the responsibility for ROC filing lies with the directors of a company. The Companies Act 2013 requires companies to file their annual returns & financial statements with the ROC regularly to maintain compliance with the relevant laws and regulations.

Importance of filing ROC

Companies must ensure that their ROC filings are accurate, up-to-date, and in compliance with the Companies Act 2013. Non-compliance with the ROC filing requirements can result in penalties and legal action against the directors of the Company.

ROC Filing

Every Company must file the Annual Return and Audited financial statement according to the Companies Act 2013 within 60 days and 30 days from the conclusion of the Annual General Meeting (AGM).

Law Governing the ROC Filing

  • Filing of an Audited financial statement is governed under Sections 129 and 137 of The Companies Act, 2013 and with Rule 12 of the Company (Accounts) Rules, 2014
  • Filing of Annual Returns is governed under Rule 11 of the Companies (Management and Administration) Rules, 2014, and Section 92 of the Companies Act, 2013.

Procedure for ROC filing

The procedure for ROC filing (Annual Return and Audited financial statement) is as follows:

Conduct a Board Meeting 

The board meeting is to be done for the following purposes:

  • Authorize the auditor to prepare financial statements per Schedule III of the Companies Act, 2013.
  • Authorize the Director or Company Secretary to prepare the Board Report and Annual Return as per the Companies Act, 2013.

Hold another Board Meeting

Hold another Board Meeting to approve the directors’ draft financial statements, Annual returns, and Board reports.

Conduct the Annual General Meeting

Conduct the Annual General Meeting and pass the necessary resolutions. The financial statements will be considered final only when the shareholders approve the same at the General Meeting.

Documents Required for ROC Annual Filing

Every Company has to attach some essential documents while filing the ROC and including:

  • Balance-Sheet: Form AOC-4 is to be filed by all companies, while ROC filing
  • Profit & Loss Account: Form AOC-4 must be filed while ROC filing by all firms
  • Annual Return: MGT 7 is to be filed by companies
  • Cost Audit Report: Form CRA 4 is to be filed by the companies

E-Forms are required to be filed with ROC.

Name of  Form Purpose of  form Due date of filing Applicability on Company
Form ADT-1 Appointment of Auditor Fifteen days from the date of the AGM. Private Companies, Listed Companies, Public Limited Companies, One Person Companies.
Form AOC-4 and Form AOC-4 CFS (in case of Consolidated financial statements) Filing of Annual Accounts 30 days from the date of the AGM (In the case of OPC, within 180 days from the close of the financial year) Private Companies,One Person Companies, Public Limited Companies, 
Form AOC-4 (XBRL) Filing of Annual Accounts in XBRL mode 30 days from the date of the AGM Listed companies in India and their Indian subsidiaries (or) a public company  
Form MGT-7/MGT-7A Filing of Annual Return Sixty days from the date of AGM. Private Companies, Listed Companies, Public Limited Companies, One Person Companies
Form CRA-4 Filing of Cost Audit Report Thirty days from the receipt of the Cost Audit Report Companies prescribed according to the Companies (Cost Records and Audit Rules), 2014, are amended continuously.
Form MGT-14 Filing of resolutions with MCA regarding approval of Board Report and Annual Accounts 30 days from the date of the concerned Board Meeting Public Companies, Listed Companies This is Exempted for private companies.

ROC Filing Process on MCA  

You must download the forms (i.e., AOC-4 and MGT-7) from the MCA website.

  • Click on the MCA services menu, select the Company E-filing, and click on the Company Forms Download.
  • Fill in the appropriate E-forms applicable to the Company and attach the required documents.
  • Press the Check form and Attach the Digital Signature of the Director (DSC) and Practicing professional (if applicable; exempted for One Person Companies and small companies) and do pre-scrutiny.
  • Register on the MCA portal as a Business User or registered user. After registering on the MCA portal, log in with your ID and password.
  • After login, upload the E-forms and the signed form from your system’s location.
  • After uploading the form, the system automatically generates a Service Request Number (SRN). The payment window will open. For making the payment, two options will be available:
  • You can use the Pay Later option and save the challan generated and the payment from being made within the due time.
  • You can also Pay using internet banking or a debit or credit card and save the payment challan for future reference.

Track the process  

You can track the process of using the SRN. You need to provide the SRN generated in the challan, and the status will be shown whether your form is approved or pending approval.