With the introduction of Companies Act, 2013 and continuous amendment to the act, the compliance requirement for a company has increased multifold. The compliance and reporting requirements are numerous in the companies act and the non-compliance invites unnecessary penalties and other proceedings.
There are many compliance requirements one has to comply with ROC depending upon the type of the Company. From conducting a board meeting to filing of various returns including annual returns, each type of entity registered with MCA has to comply with various documentation and filing requirements.
Generally a company must have records of all the minutes of Board and General meetings, registers of the Shareholders, directors, key managerial personnel, charges, contracts with related parties etc.,
Appointment of Company secretary is mandatory only for those companies which has a paid up capital of Rs.5 Crores or more. With effect from 1.4.2020, the limit is increased and hence companies having paid up capital of Rs.10 crores or more are required to appoint a company secretary.