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In India, registering a company is not as easy as it may seem to be. The registrar of companies (ROC) plays a pivotal role in facilitating and promoting a business. It is impossible for a company to conduct business if it has not been issued a certificate from the registrar of companies. No company, under the companies act, 1956, can come into existence without the approval of the ROC. The registrar provides a certificate which acts as a lifelong proof of existence of the company. The ROC office contains data on more than 6 lakh companies that operate in India.
To obtain a certificate, the company has to produce various documents to the ROC. Some of the documents include memorandum of association, articles of association, pre-incorporation agreement for appointment of individuals as directors/managing directors and a declaration by an authorised person such as a high court lawyer or chartered accountant.
After the completion of statutory formalities and verification of documents, the registrar of companies, issues a certificate of incorporation. The ROC also issues a certificate of commencement of business. It is mandatory for all public limited companies to obtain this certificate before starting a business.
During certain times, the ROC can also refuse to register a company on certain grounds. If the documents provided are forged, the ROC can immediately refuse to register the company. No company with an objectionable name can be registered. The ROC can also refuse to register a company with unlawful objectives.
When you start a company, you will constantly need the support of the registrar of companies. In the long run, if you wish to change the name of your company, you will again have to go through the entire process.
According to the Companies Act, 1956, a company has to file all its resolutions with the ROC. The ROC is required to record the resolution. A company will basically have to inform the ROC about all its activities which includes appointment of directors, managing directors, resolutions concerning voluntary winding up etc.
Many people wonder as to why the ROC has to keep such information? The registrar of companies is responsible for what a company does. A company cannot undertake activities if it has not been authorised by the objects clause.
When a person wishes to start a company, he/she must know all the legal formalities. Any person can seek information about a company after paying the ROC the prescribed fee.
In case the ROC is not happy with the given documents, the ROC has the right to ask for additional documents. Lastly, the registrar of companies also has the right to file a petition seeking winding up of a company.
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