Expert Guidance on Compliance for Private Limited Companies

Navigating compliance can be a complex challenge for private limited companies in India. Adhering to the comprehensive requirements of the Companies Act 2013, including director appointments, shareholder meetings, and other regulatory obligations, is crucial but can often seem overwhelming.

That’s where Law Sarathi Legal Services steps in. We provide expert guidance and comprehensive solutions tailored to your company’s needs, simplifying the compliance process from registration to ongoing obligations. Our team of specialists is equipped with in-depth knowledge of Indian business laws and regulations, ensuring your company meets company compliance requirements. Whether you are a startup or an established enterprise, Law Sarathi Legal Services is your partner in simplifying compliance.

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Compliance for Private Limited Company

Compliance refers to adhering to orders, rules, or requests. For a private limited company incorporated in India, compliance with the Companies Act 2013, which includes obligations to the Registrar of Companies (RoC), is essential. This legislation governs various aspects, including the appointment, qualification, remuneration, and retirement of directors and the conduct of board and shareholder meetings. Compliance with Registrar of Companies (RoC) regulations is mandatory for every private limited company, regardless of turnover or capital amount.

Compliance Related to the Registrar – ROC Compliance

Compliance Beyond the Registrar’s Purview – Non-Registrar Compliance

ROC Compliance for Private Limited Company

As mentioned above, these are obligations that a company must fulfil in accordance with the regulations set by the Registrar of Companies (ROC). They typically involve statutory filings and adherence to the Companies Act provisions.

ROC compliance for private limited companies can be broadly classified into:

  • Annual Compliance

  • Event-Based Compliance

  • Other Compliances

Annual Compliances for Private Limited Company

INC-20A: Declaration for Commencement of Business

For companies registered post-November 2019 with share capital, Form INC-20A must be filed within 180 days of incorporation.

Failure results in penalties:

  • Company fine: ₹50,000

  • Director fine: ₹1,000 per day

Appointment of Auditor and Filing E-Form ADT-1

The first auditor must be appointed within 30 days of incorporation and Form ADT-1 must be filed within 15 days of the AGM.

Board Meetings

  • First meeting within 30 days of incorporation

  • Minimum 4 meetings every year

  • Gap between meetings not exceeding 120 days

Annual General Meeting (AGM)

  • First AGM: Within 9 months of the end of the first financial year

  • Subsequent AGMs: Within 6 months of financial year end

  • Maximum gap: 15 months

Annual ROC Filings

  • AOC-4 – Within 30 days of AGM

  • MGT-7 – Within 60 days of AGM

  • DIR-12 – Within 30 days of appointment/resignation

  • DIR-3 KYC – By September 30 each year

  • DPT-3 – By June 30 each year

Summary Table – Annual Compliances

Compliance Due Date
Commencement of Business (INC-20A) Within 180 days
ADT-1 Within 15 days of AGM
AGM Within 9 months
AOC-4 Within 30 days of AGM
MGT-7A Within 60 days of AGM
DIR-3 KYC By 30 September
DPT-3 By 30 June

Event-Based Compliances

Includes:

  • Change in capital.

  • Share allotment/transfer

  • Loans to directors or companies

  • Change in auditors

  • Opening/closing bank accounts

Timely filing is mandatory to avoid penalties.

Non-Registrar Compliance

Includes:

  • GST, TDS, TCS, Advance Tax, Professional Tax

  • Income Tax Returns

  • PF & ESIC returns

  • Environmental, Factory, and Competition Act compliance

Non-Compliance Penalty

Failure to comply with Companies Act provisions can result in fines, additional fees, and legal consequences for the company and its officers.

Streamline Company Compliance with Law Sarathi Legal Services

With Law Sarathi Legal Services, entrepreneurs can seamlessly complete their company compliance requirements.

LEDGERS Compliance Platform

Manage deadlines, filings, and reports efficiently.

Dedicated Advisor

A single point of contact to manage all compliance needs.

Accounting

End-to-end bookkeeping and financial statement preparation.

Secretarial Services

Board meetings, AGM, Directors’ Report, and statutory records.

MCA Annual Return Filing

Complete AGM and MCA filings within deadlines.

Income Tax Return Filing

Mandatory filing for all companies, including dormant entities.

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