The Registrar of Companies or ROC in short is an office under the Ministry of Corporate Affairs As per section 609 of the Companies Act, 1956, The Registrar of Companies (RoC) plays a pivotal role in facilitating and promoting business culture. No Company Registration can come into existence without the approval of the RoC. The registrar provides the certificate of incorporation which is considered as conclusive proof of the existence of a company.
The Registrar of Companies also certifies that LLPs (Limited Liability Partnerships) comply with the legal requirements contained in the Companies Act, 2013. Registrar of Companies maintains a registry of records concerning companies which are registered with them and allows the general public in accessing this information on payment of a stipulated fee.As part of the drill, the promoters are required to submit various documents to the RoC which include the Memorandum of Association , Articles of Association ,pre-incorporation agreement for appointment of individuals as directors/ managing director and a declaration by an authorised person a high court lawyer or a chartered accountant that all the requirements of law relating to registration have been complied with.
After verifying the documents, the RoC enters the name of the company in the register of companies and issues a certificate of incorporation.
Functions of the ROC
The ROC takes care of registration of a company in the country. It determines regulation and reporting of companies and their shareholders and directors and also oversees government reporting of several proceedings which consists of the annual filing of numerous documents. The Registrar of Companies plays an important part in cultivating and facilitating business culture. Every company in the country requires the approval of the ROC and The ROC provides incorporation certificate which is the conclusive evidence of the existence of any company. Among other function, Registrar of Companies could also ask for supplementary information from any company. It could search its premises and seize the books of accounts with the approval of the court and the Registrar of Companies could also file a petition for closing a company.
How companies are registered by the Registrar of Companies:
It requires a certificate of incorporation issued by the Registrar of Companies to call a company registered after the fulfillment of several legal requirements . As part of the statutory process, the Business Owner needs to submit several documents to the Registrar of Companies which includes Memorandum of Association also known as MoA, Articles of Association also known as AoA, the pre-incorporation agreement for appointing directors/ managing directors and the declaration by an authorized person confirming that requirements relating to registration are deemed to be correct and accurate.
After verification of the documents, the ROC inputs the company’s name in the register of companies and releases the certificate of incorporation. The Registrar with the certificate of incorporation also issues a certificate of commencement of business which a company is required to get prior to commencing business. Also You should note that ROC can refuse to register a company on various grounds if it found some information missing or inaccurate.
In India, registering a company is not an easy task, it requires to complete certain legal formalities that can sometimes be difficult. Therefore, The registrar of companies plays a crucial role in facilitating and promoting a business. It is impossible for a company to conduct business if it does not have certificate of incorporation from the registrar of companies. under the companies act, 1956, No Company In India can be formed without the approval of the Registrar of the company . The registrar provides a certificate which acts as a lifelong proof of formation of the company.