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COMPLIANCE MANAGAMENT

There are various laws and regulations applicable on a business, which have to be complied with. Compliances can be divided into parts, which are follows:

1. Mandatory Compliances

> Company Annual Compliances

> Statutory Audits

> Post Incorporation compliances- For Company and LLP

> Changes in Company or LLP

2. Event based Compliances:

> Raising Investments; Allotment of securities

> Change in directorships; Appointment or resignations

> Obtaining Loans

> Change in Registered office

> Transfer of shares

KINDS OF COMPLIANCES

COMPANY ANNUAL COMPLIANCES

As a legal entity, a company must get its financial statement audited by the auditor and adopt the same in its AGM. Post conduct of AGM an annual report and the financial statement are submitted to the ROC. The returns with the ROC need to be filed within its due date to avoid heavy penalty.

CHANGES IN COMPANY 

The changes in a company like its name or address has to be done in pursuance of the provisions of its articles read with The Companies Act, 2013 and the rules made there under. We strongly recommend having a consultation with us before you make decisions to carry any change.

STATUTORY AUDITS

It is an exercise by the auditors of the company or LLP to express their opinion in the form of an audit report about the correctness of accounting of the company. All companies are required to get its audit done; However, in case of LLP, there is relaxation until capital of 25 lac or turnover of 40 lac.

ALLOTMENT OF SHARES

The board of directors are legally entitled to issue fresh equity shares of the company, however subject to its valuation and the right of first refusal of the existing shareholders of a private limited company. The main professional work with the fresh issue of equity is the valuation of share and filing the PAS-3 to ROC which is a return of allotment of shares of the company.

POST INCORPORATION COMPLIANCES

With the issuance of the certificate of Incorporation, a legal entity in the form of the company comes into being. Immediately after the incorporation, the first board meeting must take place to adopt requisite resolutions, for Issue of Shares and Payment of stamp duty to state gov & appointment of first auditors.

INCREASE IN AUTHORISED CAPITAL

The authorised capital of a company is the limit to which a company can raise its capital. The subscribed capital or paid-up capital can never be more than the amount of authorised capital as mentioned in the capital clause of the MOA and AOA.