Structured Biiz

COMPLIANCES / LEGAL DRAFTING

ANNUAL COMPULSORY COMPLIANCES

Limited Liability Partnership (LLP)

» Filing of Income Tax Return;
» Accounting & Auditing, if the LLP crosses the minimum threshold limit;
» Filing of GST Return, if GST obtained;
» Filing of Annual Return;
» Filing of Statement of Account & Solvency;
» Filing of DIR KYC Form of Designated Partners.

One Person Company (OPC)

» Filing of Income Tax Return;
Accounting & Auditing;
» Filing of GST Return, if GST obtained;
» Filing of Annual Return;
» Filing of Financial Statement;
» Filing of DIR KYC Form of a Director;
» Other Annual Company Law Compliances.

Private Limited Company

» Filing of Income Tax Return;
» Accounting & Auditing;
» Filing of GST Return, if GST obtained;
» Filing of Annual Return & Financial Statement;
» Filing of DIR KYC Form of Directors;
» Filing of return of deposit and other requisite forms, as required;
» Other Annual Company Law Compliances.

Public Limited Company

» Filing of Income Tax Return;
» Accounting & Auditing;
» Filing of GST Return, if GST obtained;
» Filing of Annual Return & Financial Statement;
» Filing of DIR KYC Form of Directors;
» Filing of return of deposits, reconciliation of share capital audit report and other requisite forms, as required;
» Other Annual Company Law Compliances.

Section 8 Company

» Filing of Income Tax Return;
» Accounting & Auditing;
» Filing of GST Return, if GST obtained;
» Filing of Annual Return & Financial Statement;
» Filing of DIR KYC Form of Directors;
» Filing of requisite forms, as required;
» Other Annual Company Law Compliances.

Nidhi Limited Company

» Filing of Income Tax Return & GST Returns;
» Accounting & Auditing;
» Filing of Annual Return & Financial Statement, DIR KYC;
» Filing of return of deposits, reconciliation of share capital audit report and other requisite forms, as required;
» Filing of various NDH Forms applicable to Nidhi Companies;
» Other Annual Company Law Compliances.

Producer Company Limited

» Filing of Income Tax Return & GST Returns;
» Accounting & Auditing;
» Filing of Annual Return & Financial Statement, DIR KYC Forms;
» Filing of return of deposits and other requisite forms, as required;
» Other Annual Company Law Compliances.

COMPANY COMPLIANCES

Change in Director

» Classification of Director - Executive / Non Executive;
» Type of Director - Additional Director, Managing Director, Whole Time Director, Alternate Director, Nominee Director, Director appointed due to Casual vacancy;
» Compulsory appointment of Woman Director & Independent Directors, in case of certain Companies.

Alteration of MOA

» Alteration of Memorandum of Association is compulsory in certain cases;
» In case of change of name of the Company;
» In case of change of object clause of the Company;
» In case of increase in Authorised Share Capital;
» In case of shifting of Registered Office of the Company from one state to another.

Further Issue of Shares / Securities

» Issue of shares / securities on rights issue basis - the Company issues additional shares to the existing shareholders in the proportion to their current shareholding;
» Issue of shares / securities on preferential issue basis - Shares / securities are issued to a selected group of shareholders / security-holders who are not the existing shareholders/security-holders of the Company.

Transfer of Securities

» A Company shall not register a transfer of Securities, unless a proper Transfer Deed in prescribed format is duly stamped and executed;
» Share Transfer Deed has to be delivered to the Company, along with the Certificate relating to the Securities, or if no such Certificate is in existence, along with the letter of allotment of the Securities.

Registered Office Address

» Every Company must have a Registered Office Addressin order to receive and acknowledge all the communications and notices;
» When there is shifting of the Registered Office Address within the local limits, such change is required to be intimated to the ROC;
» When there is a change in the Registered Office Address outside the city, town or village but within the jurisdiction of the same ROC, an approval is required to be obtained from the ROC;
» When there is shifting of the Registered Office Address from one State to another, an approval is required to be obtained from the Regional Director of both the states;
» When there is a change in the Registered Office Address, which is outside the jurisdiction of the Registrar of Companies, but within the same State, an approval is required to be obtained from the Regional Director.

LLP COMPLIANCES

Appointment of Partners / Designated Partners

» Directors take care of the day to day matters of a Company. Similarly, Designated Partners administers the day to day matters of the LLP;
» LLP Act, 2008 defines Partner, in relation to a LLP, as any person who becomes a Partner in the LLP in accordance with the LLP Agreement;
» Supplementary Agreement is required to be executed and filed along with requisite forms in case of appointment and resignation of Partner / Designated Partner.

Registered Office Address

» The LLP may change its Registered Office from one place to another by following the procedure as laid down in the LLP Agreement;
» Where the LLP Agreement does not provide for the procedure, consent of all the partners shall be required for changing the place of the Registered Office of the LLP to another place;
» LLP needs to execute the Supplementary Agreement to incorporate the changes of Registered Office Clause in the LLP Agreement and file necessary forms with the ROC.

Change of name of LLP

» Any LLP can change its names by filing a notice of change of name in prescribed form with the ROC;
» For change of name, an application is required to be made for reservation of name to the respective Registrar of Companies;
» Notice of change of name of LLP needs to be intimated to the ROC;
» LLP needs to execute the Supplementary Agreement to incorporate the change of name in the LLP Agreement and file necessary forms with the ROC.

Change in Object Clause

» Object Clause is the clause in the LLP Agreement which defines the main business activity of the LLP;
» To change the goals or aims and objectives of a business, the LLP needs to alter the LLP Agreement;
» In case the name does not signify the object clause, the LLP needs to also change its name;
» Documents and forms are required to be submitted to ROC for approval.

CLOSURES & CONVERSIONS

Close a Company

» Easy way to close a Company is to follow the process of Strike Off as provided under the Companies Act, 2013;
» Strike off could be filed by an Active Company and by a Dormant Company;
» Any Company that is not carrying on any business activities or operations for a period of 2 immediately preceding years can apply for removal of name to the ROC;
» However, the Company needs to comply with all the statutory compliances till the time the Company was operational.

Close a LLP

» Easy way to close a LLP is to follow the process of Strike Off as provided under the LLP Act, 2008 and the LLP Rules, 2009;
» Any LLP can close down its business by declaring itself as a Defunct;
» The LLP can be declared as defunct, in case the LLP is not carrying on any business operations for a period of 1 year or more;
» Similarly, ROC have got the power to strike off any defunct LLP, if they have a reasonable cause to do so.