Need Based Compliance

  • Change in Directors
  • Change in Auditors
  • Company Name Change
  • Company of Object Clause
  • Change of Registered Office
  • Change of Capital Clause
  • Issue/Transfer of Shares/Debentures
  • Creation/Modification/Satisfaction of Charge
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Need based compliance

Any Company as and when feels the need that a change is required in certain basic requirements of the Company they are required to comply with the provisions of the Companies Act, 2013 and need to follow the guidelines prescribed under the Act / Rules and Regulations made there under before /after incorporating any change in the Company. Some of the major changes which require compliance with the act includes the following:

  • Change in the Directorship: Appointment of New Director, Cessation, Resignation, Vacation, Removal of Old Directors needs to be intimated to the concerned Registrar of Companies in Form DIR-12 within a period of 30 Days of the change.
  • Change in Auditors: An Individual or an Audit Firm resigning from the post of Statutory Auditors of a Company is required to file its resignation with the Registrar of Companies in Form ADT-3 within a period of 30 Days of the resignation. Further Every Company is required to intimate the Registrar of Companies the Appointment of New Auditors in Form ADT-1 within a period of 15 Days of the appointment.
  • Name Change of Company: Every Company who wish to change the name of its entity is required to get the approval from the Registrar of Companies before changing the name. A company will change its name only after the receipt of a new certificate of Incorporation from the concerned authority. An Application in Form INC-24 shall be filed with authority by the Company along with the fees prescribed for the same.
  • Object Change of Company: Every Company who wish to change the business activities of its entity is required to get the approval from the Registrar of Companies before changing the same. A company will start the new business activity only after the receipt of a Object Change approval Certificate from the concerned authority.
  • Shifting of the Registered Office within the same city: Every Company who wish to change the Registered Office of the Company within the same city, town or village is required to intimate the Registrar of Companies in Form INC-22 within a period of 15 days from the date of passing the resolution for the change of the office.
  • Shifting of the Registered Office within the same State: Where a Company wants to change the Registered Office of the Company within the same State however the jurisdiction of the Registrar of Companies changes to another jurisdiction, an application is required to be filled with the Regional Director in Form INC-23 along with other prescribed documents for seeking the approval for the shifting of the Registered Office of the Company.
  • Shifting of the Registered Office from one state to another: Where a Company wants to change the Registered Office of the Company from one State to another, an application is required to be filled with the Regional Director in Form INC-23 along with other prescribed documents for seeking the approval for the shifting of the Registered Office of the Company.
  • Change in Authorized Capital of Company: Every Company who wish to increase its share capital is required to file the notice of such alteration with the Registrar of Companies in Form SH-7 along with the prescribed fee and stamp Duty within a period of 30 days of such alteration on increase.
  • Allotment of Shares: Every Company who allots the shares to any other person is required to file the return of allotment in Form PAS-3 with the Registrar of Companies within a period of 30 days from the date of such allotment.
  • Further Issue of Share Capital: Every Company, who wish to increase its share capital by further issue of shares then such shares can be offered and issued by the company in the following manner:
    1. To the Existing Shareholders of the Company
    2. To employees of the Company under the scheme of employees stock option
    3. To any other person under the private placement subject to the conditions prescribed under the Act
  • Transfer and Transmission of Shares: A Shareholder of a Company at any point of time can transfer its shares to any other person by executing a Share Transfer Deed in Form SH-4 by paying appropriate stamp duty on the same. A Company shall register such transfer in its records on receiving the proper instrument of transfer duly stamped, dated and executed by or on behalf of the transferor and the transferee and specifying the name, address and occupation, if any, of the transferee along with the certificate relating to the securities within a period of 60 days from the date of execution.
  • Issue of Debentures: Every Company intending to issue the debentures to its investors or existing shareholders is required to follow the rules and regulation prescribed under the Act for the said purpose and is required to intimate the Registrar of the same. The Debenture Certificates are also issued to the Debenture-holders within the time prescribed.
  • Creation/Modification/Satisfaction of Charge: Any company who wishes to take any secured loan in any form, viz. Working Capital Loan, Cash Credit Facility, Term Loan by mortgaging any collateral property or any other assets of the Company from any Banks or Financial Institutions is required to create a charge of such loan and file the same with the Registrar in Form CHG-1 within a period of 30 days of such creation.
    In case, in future any loan is modified viz., reduced, renewed, enhanced, the details of the same shall be given to the Registrar in Form CHG-1 within a period of 30 days from the date of such modification.
    Further when such loan is fully re-paid by the company, the intimation of such payment or satisfaction shall be given to the Registrar in Form CHG-4 within a period of 30 days from the date of such satisfaction.