What is the full form of ROC

ROC: Registrar Of Companies

ROC Stands for Registrar Of Companies. The Ministry of Corporate Affairs (MCA), the organization in charge of managing corporations and limited liability partnerships (LLPs) in India, is where the Registrar of Companies (ROC) office is located. In all the major states and UTs at the moment, Registrars of Companies (ROCs) are in operation.

There are many ROCs in certain states, nevertheless, including Tamil Nadu and Maharashtra. As an example, the Chennai ROC has jurisdiction over both the state of Tamil Nadu and the Andaman and Nicobar Islands' UT. Other ROCs have authority over two or more states or UTs.

The ROCs are charged with the primary responsibility of registering companies and LLPs throughout the states and union territories, according to section 609 of the Companies Act, 1956. The Registrar of Companies keeps a registry of documents about the businesses that they register, and on payment of a set price, they make this information available to the general public. By using Regional Directors, the Central Government maintains administrative control over the Registrar of Companies. Seven Regional Directors are in charge of overseeing the activities of ROCs in their respective regions as of right now. The ROCs also make sure that LLPs adhere to the laws outlined in the Companies Act. The ROC office keeps a registry of documents about businesses that have registered with them and make this information available to the public for a fee. Regional Directors help the Union Government retain administrative control over ROCs. There are 7 Regional Directors who oversee how the ROCs operate in their respective regions.

Functions Of Registrar Of Companies (ROC)

1. The ROC is responsible for handling a company's registration (also known as incorporation) in the nation.
2. It completes the regulation and reporting requirements for businesses, their shareholders, and directors. It also manages government reporting requirements, including the yearly submission of several documents.
3. The Registrar of Companies is crucial in promoting and enabling corporate culture.
4. To start a business, any organization in the nation needs the ROC's blessing. The incorporation certificate that is provided by the ROC is proof sufficient of any company's existence. A business that has already been incorporated cannot be dissolved unless its name is removed from the register of companies.
5. It is important to remember that the Registrar of Companies may, among other things, ask any firm for additional information. With the prior consent of the court, it might search its property and take the books of accounts.
6. Most significantly, a petition for a company's winding up could also be filed by the Registrar of Companies.
7. The ROC's relationship with a corporation has no end. A firm could need to modify its goals, registered office, or name. After the formalities are finished for each of these requirements, a corporation notifies the ROC.

Companies Registration

Every business must have a certificate of incorporation, which the Registrar of Companies issues upon the completion of numerous legal criteria. The promoters must deliver the necessary paperwork to the Registrar of Companies during this process. The pre-incorporation agreement for appointing directors and managing directors, the articles of association, the memorandum of association (MoA), and the statement by an authorized person certifying the prerequisites for the registration of the firms are among these documents.

The ROC enters the company's name into the register of companies once all the documents have been verified, and then issues the certificate of incorporation. A certificate for the start of business is issued by the Registrar who holds the certificate of incorporation. A public limited company must obtain this certificate before beginning operations.

Refusing Registration

ROC has several reasons for rejecting a company's registration. The name clause, objects clause, registered office clause, capital clause, and liability clause are the five clauses that make up the Memorandum of Association (MOA), which is submitted to the registrar. The registrar must make sure that no registration is permitted for businesses with offensive names. The registrar has the right to refuse registration to any company with illegal goals.

Resolving Issues

Every resolution must be submitted to the ROC within 30 days of its passage by the provisions of Section 117 of the Companies Act. All of these resolutions must be recorded by the Registrar of Companies. The Company Law further specifies the punishment for failing to submit resolutions to the registrar by the deadline. In other words, a business is required to inform the Registrar of Companies of all of its operations, such as the appointment of directors or managing directors, the publication of prospectuses, the selection of sole-selling agents, and the decision to voluntarily wind up, etc.