What is the Registrar of Companies?

What is the Registrar of Companies

Registrar of Companies (ROC) designated under Section 609 of the Companies Act covering the different States and Union Territories are vested with the essential obligation of enlisting organizations and LLPs coasted in the individual states and the Union Territories and guaranteeing that such organizations and LLPs agree to statutory prerequisites under the Act. These workplaces work as a registry of records, identifying with the organizations enrolled with them, which are accessible for investigation by individuals from open on an instalment of the recommended charge. The Central Government practices authoritative power over these workplaces through the particular Regional Directors.

Functions of the ROC

  1. The ROC has to look of registration of a company (also referred to as incorporation of the company) in the country.
  2. With the annual filing of the numerous documents it also has to complete the regulation and reporting of companies and their shareholders and directors and also administers government reporting of several matters.
  3. The Registrar of Companies plays a vital role in easing up and facilitating business culture.
  4. Every company in the country requires the approval of the ROC to come into work. The ROC provides incorporation certificate which is the final evidence of the existence of any company. A company, once incorporated, cannot closes unless the name of the company is struck-off from the register of companies.
  5. It could search its premises and seize the books of accounts with the prior approval of the court. Registrar of Companies could also ask for supplementary information from any company among other functions.
  6. The Registrar of Companies could also file a petition for winding up of a company which is also an important function.

ROC can decline to enlist an organization on different grounds. The Memorandum of Association (MOA) which is loaded up with the registrar involves five provisions viz. name proviso; objects condition; enlisted office statement; capital proviso and risk statement. The recorder needs to guarantee that no enrollment is taken into account organizations having a shocking name. The enlistment centre could likewise decrease to enrol in any organization which has unlawful goals. There is no end to the togetherness of the ROC and a company. For instance, a company might require changing its name, objectives or registered office. A company would have to intimate the ROC after completion of the formalities in every such instance.

According to the provision contained in section 117 of the Companies Act, each resolution is required to be registered with the ROC within 30 days of being passed. The Registrar of Companies needs to record every single such goal. The Company law has additionally set out the penalty if there should arise an occurrence of inability to register the resolution with the enlistment centre inside the stipulated time. At the end of the day, an organization is required to imply the Registrar of Companies concerning the majority of its exercises which incorporates designating chiefs or overseeing executives, issuing outline, selecting sole-offering specialists, or the goals with respect to intentional twisting up, and so on.

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