Legal Compliance
At PROBIC, we provide you complete guide on compliance under the Companies Act 2013, a crucial framework governing corporate entities in India. Our platform is designed to offer invaluable insights and resources, helping you navigate the complexities of compliance seamlessly. Whether you’re a startup, SME, or registered under this act, understanding and fulfilling your obligations under the Companies Act is essential.
- Mandatory compliance under Companies Act 2013
- Compliance for other services
- Conversion of entities
- LLP Compliance
Mandatory compliance under Companies Act 2013:
Under the Companies Act 2013, mandatory compliance refers to the legal obligations that companies registered under the Act must fulfill. They typically include requirements related to corporate governance, financial reporting, filing of various documents and returns with regulatory authorities such as the Registrar of Companies (ROC), holding of meetings, maintenance of statutory registers, and adherence to other regulatory norms.
Mandatory compliance under the Companies Act 2013 may include:
- Appointment of Auditors
- Annual General Meeting
- Filing of Financial Statements
- Maintenance of Statutory Registers
- Compliance with Corporate Governance Norms
- Disclosure of Directors' Interests and ance with Corporate Governance Norms
- Other Regulatory Filings.
Failure to comply with these mandatory provisions can result in penalties, fines, or other legal consequences for the company and its officers
Compliance for other services:
Compliance under the Companies Act refers to the adherence of companies and their officers to the legal requirements, regulations, and provisions stipulated by the Companies Act legislation. These regulations are designed to govern the incorporation, operation, management, and dissolution of companies, ensuring transparency, accountability, and protection of stakeholders’ interests.
There is various circumstantial compliance to be made to the ROC,
- Increase, Transfer, Buyback and alteration of Share Capital
- Change in Registered Office of the company
- Alteration of MOA (Memorandum of Association) and AOA (Articles of association)
- Change in Name of the company
- Appointment, resignation and change in Board of Directors of the Company and
- Application of Dormant Status or Strick off the company.
Therefore, ensuring comprehensive compliance with the Act is essential for companies to operate lawfully, maintain stakeholders’ trust, and mitigate legal risks.
Conversion of entities:
The conversion of entities from one legal form to another involves specific procedures and compliance requirements. Each conversion process involves specific legal steps, documentation, approvals, and filings to ensure compliance with the Companies Act and other relevant regulations.
Some of the common conversions are
- Sole Proprietor to One Person Company
- Sole Proprietor to Private or Public Limited
- One Person Company to Private Limited or Public Limited
- Private Limited to One Person Company, LLP or Public Limited
- Public limited to Private Limited
- Unlisted Public limited to LLP
- LLP to Private limited, Public limited or Partnership Firm
- Partnership Firm to LLP, Private limited or Public limited and
- Section 8 into any other kind.
Each conversion process involves specific legal steps, documentation, approvals, and filings to ensure compliance with the Companies Act and other relevant regulations.
Looking to navigate the complex landscape of corporate restructuring and entity conversions under the Companies Act? Look no further. Our expert team specializes in facilitating seamless transitions for businesses across various legal structures. If you have any questions or need personalized guidance, feel free to reach out to us. We’re here to help you make the right choice for your business with free consultation.
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