Corporate Fillings
Corporate fillings, also known as company filings in India, refer to the submission of various legal documents and forms to the Registrar of Companies (ROC) by a registered company. These filings are mandatory to comply with the Companies Act, 2013, and maintain transparency for stakeholders like investors, creditors, and the government.
Types of Corporate Filings in India:
There are various corporate filings required at different stages of a company’s lifecycle, some of the most common include:
- Incorporation Documents: These documents are filed at the time of company registration and include details like the Memorandum of Association (MOA) and Articles of Association (AOA), which define the company’s objects, capital structure, and internal governance rules.
- Annual Filings: Every company must file annual returns with the ROC, typically within 30/60 days of the financial year-end. These filings provide a comprehensive overview of the company’s activities and financial performance for the year. Key annual filings include:
- Form MGT-7/7A (Annual Return): Provides details about partners, shareholding, financial performance, and other prescribed information.
- Form AOC-4 (Financial Statements): Includes the company’s audited financial statements (balance sheet, profit & loss account, cash flow statement).
- Event-Based Filings: These filings are required to report specific events or changes within the company to the ROC, such as:
- Change in Directors: Any appointment, resignation, or change in director details needs to be intimated within 30 days.
- Increase in Authorised Share Capital: If a company decides to raise its maximum share issuance limit, a filing is required.
- Issue of Shares: Whenever a company issues new shares, details need to be filed with the ROC.
- Change in Registered Office: Shifting the company’s registered address necessitates filing the updated information.
Importance of Corporate Filings:
- Compliance: Regular filings ensure adherence to the Companies Act and avoid penalties for non-compliance.
- Transparency: These filings provide stakeholders with valuable information about the company’s operations and financial health.
- Credibility: Maintaining a good filing record enhances a company’s credibility and attracts investors.
- Public Record: Filings create a public record of the company’s history and activities.
Who is Responsible for Corporate Filings?
The responsibility for corporate filings typically falls on the company’s board of directors and designated officials like the company secretary. Many companies also choose to outsource these filings to professional service providers for efficiency and expertise.