When establishing an entity in India, the specific type of organization you're forming dictates the array of compliances you must uphold throughout your operations. These compliance regulations are instituted by the Government of India in accordance with the Indian Companies Act of 2013. These legal structures are designed to ensure that companies adhere to operational standards and strive to enhance transparency in the conduct of businesses within India.
Business compliances needed in India
The Registrar of Companies, operating under the Ministry of Corporate Affairs (MCA), along with the Reserve Bank of India (RBI), mandates the regular submission of statutory forms and returns by companies. Any business must adhere to the guidelines outlined in the Companies Act, the Foreign Exchange Management Act, the Securities and Exchange Board of India, and other relevant laws aimed at promoting Corporate Governance and sound business practices.
Non-compliance with these regulations could cost you substantial fines and, in certain instances, even lead to the deregistration of your company.
Overview of the comprehensive compliance framework necessary in India
Filings with Ministry of Corporate Affairs
- Appointment of Auditors
- Business Commencement Form
- Registered Office change
- Director appointment / replacement
- Changes in MOA/AOA
- Increase Authorised capital
- Rights issue
- Forms: KYC, DPT-3, DSC, DIN
- Maintenance of Statutory records and registers as Company Law
- Documentation for AGM, Board Meeting
- Annual Filing with MCA
Filings with Reserve Bank of India
- Annual FLAIR (Financial Liabilities and Assets Report)
- FCGPR for FDI received
- Handling of compounding, as and when required
BANDRAZ offerings
Navigating compliance varies from simple to complex tasks
While your company secretary handles these responsibilities, if your paid-up capital is under five crore rupees, outsourcing compliance is an option. At Bandraz, we excel in multi-layered compliance, timely reporting, and staying updated with evolving government regulations. Our expertise allows you to streamline operations without a full-time company secretary.
In-Depth Assessment
Our services begin with in-depth assessments for your organization’s compliances, rectifying any identified loopholes and addressing any gaps in existing data. While doing so, our core aim strikes to keep up the currency of your statutory, legal, and secretarial obligations.
Record Keeping
As per Ministry of Corporate Affairs guidelines, companies are required to file meeting minutes records. We ensure these records are maintained in an approved format, simplifying and ensuring timely filing by the end of each fiscal year.
Statutory Forms Submission
Establishing a business entity involves a lot! And it begins with compliance to the Registrar of Companies (MCA) demands submitting various statutory forms and returns. Drawing on our expertise, we'll guide your company in fulfilling the obligations on the land, ensuring adherence to prescribed criteria. We provide comprehensive support, aiding you in the preparation and submission of all essential documents.
Reports & Certificates
Under the Companies Act, your company is required to submit an Annual Secretarial Compliance Report. This report ensures your company's practices align with relevant guidelines, laws, and regulations. Bandraz can effortlessly generate the secretarial compliance report and obtain the associated certificate, overcoming any obstacles along the way. We ensure a smooth process for your company's secretarial compliance.
Intermittent Services
Our expertise extends to ensuring your compliance with various Company Law provisions. Additionally, we offer valuable insights for navigating any potential litigation that might arise during the course of your business operations. Count on us to provide dynamic support tailored to your unique business requirements.
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