Compliances of small company as per Companies Act 2013

What is small company?

Small company is a company other than Public company and whose paid up share capital doesn’t exceed Rs. 50 Lakhs not more than Rs. 10 Crores and whose turnover doesn’t exceed Rs. 2 Crores not more than Rs. 100 Crores

A Holding or Subsidiary company is not a small company even if it fits the above criteria

A Section 8 Company established for social cause is also not a small company even if it fits the above criteria

A company or Body corporate governed by special act is also not a small company even if it fits the above criteria

Now, let’s understand the compliances of small company in detail in a tabular form

1)    Filing KYC web based Annual KYC for each Director of the Company. Applicable in case Director has DIN on or before 30th September every year
2)    Filing of eForm for Significant Beneficial Owners On or before 30th September every year
3)    Reconciliation of Share Capital Audit Report (Half yearly). Form is to be filed within 60 days from the conclusion of each half year On or before 30th September every year
4)    Every existing Body Corporate other than a company governed by NFRA Rules (Rule 3(1), shall inform the (‘NFRA”) about the details of the Auditors Due date 31st July every year
5)    Disclosures of Interest i.e. Every Director of the Company in First Meeting of the Board of Director in each Financial Year needs to disclose his interest in other entities by filing the form within 30 days of starting of Financial Year
6)    Disclosure of Non Disqualification i.e. Every Director of the Company in each Financial Year has to file with the Company disclosure of non-disqualification within 30 days of starting of Financial Year
7)    Holding 4 Board Meetings in total in a financial year
Quarter 1 April-May-June
Quarter 2 July-August-September
Quarter 3 October-November-December
Quarter 4 January-February-March
8)    Annual General Meeting(within 9 months of closure of First Financial Year i.e. on or before 30th December) On or before 30th September every year
9)    Filing eForm for appointment of Statutory Auditor within 15 days of AGM
10) Filing eForm for filing of Balance Sheet along with Statement of Profit and Loss Account and Directors’ Report within 30 days of AGM
11) Filing eForm of Annual Return within 60 days of AGM
12) MSME DISCLOSURE (half yearly return)
By 31st October (for April to September)
By 30th April (for October to March)
13) Return of Deposits on or before 30th June
EVENT BASED COMPLIANCES
14) Appointment or Resignation of Directors or KMP within 30 days of such change
15) Increase in Authorized Share capital And Filing of resolution and agreements (Not mandatory for Private Limited Company) within 30 days
16) Increase in Paid up share capital within 30 days
17) Change in registered office within same city within 30 days
18) Creation, modification and satisfaction of charge within 30 days
19) Change of name of company Filing of resolution and agreements within 30 days
20) Any other compliance in accordance with the recent amendments As may be applicable

 

OTHER IMPORTANT ROC COMPLIANCE:-

  • Maintenance of Secretarial Records such as
  • MGT-1: Register of Members
  • MGT-3: Foreign register of members, Debenture Holders other security holders or beneficiary residing outside India
  • FORM SH-2: Register of renewed and duplicate share certificate
  • FORM SH-3: Register of Sweat Equity Shares
  • FORM SH-6: Register of Transfer and Transmission of Shares
  • FORM SH-10: Register of Shares or Securities bought back
  • FORM SH-12: Register of loan, investment and guarantee
  • FORM CHG-7: Register of Charges
  • FORM MBP-4: Register of contract or arrangement in which directors are interested
  • Register of Director and KMP
  • Register of deposits
  • Maintenance of Minutes Book (Board Meeting Minutes Book and General Meeting Minutes Book)
  • Books of Accounts/Financial Statements
  • Register of Directors Attendance at Board Meetings
  • Register of Shareholders Attendance at General Meetings
  • Company will send to the members of the Company approved Financial Statement, Directors’ Report and Auditor’s’ Report at least 21 clear days before the Annual General Meeting.
  • Notice of Board Meeting with Agenda to be sent to all director in advance (7 days)
  • Notice of General Meeting with Agenda to be sent to all members in advance (25 days)