Companies Act Section 2(74) Register Of Companies

Register of Companies Section 2 (74)

The Register of Companies (RoC) is an official record maintained by the Registrar of Companies (RoC) appointed under the Companies Act, 2013. It serves as a central repository of information related to all registered companies and their statutory compliance in India.

Key Functions and Responsibilities:

1. Company Registration: 

The RoC is responsible for registering new companies and LLPs (Limited Liability Partnerships) under the Companies Act, 2013. It issues a Certificate of Incorporation once all legal requirements are fulfilled.

2. Filing and Recording: 

The RoC maintains a database of company records, including details of incorporation, changes in company structure (such as directors, shareholders, capital structure), annual returns, financial statements, charges (mortgages), and other statutory filings.

Companies are required to submit various documents, forms, and returns to the RoC within specified timelines as per regulatory requirements.

3. Public Access and Transparency: 

Certain information from the RoC, such as company name, registered office address, directors' details, share capital structure, and annual financial statements, is available for public access. 

This promotes transparency and allows stakeholders to verify the legal status and compliance of companies.

4. Monitoring and Compliance: 

The RoC monitors compliance with the Companies Act, 2013 provisions, rules, and regulations. 

It may take enforcement actions, issue notices, impose penalties, or strike off companies from the register for non-compliance with statutory obligations.  

5. Regulatory Authority: 

The RoC operates under the administrative control of the Ministry of Corporate Affairs (MCA), Government of India. 

It ensures adherence to corporate governance standards, investor protection norms, and regulatory requirements for companies operating in India.

Importance:

Legal Recognition: 

The Register of Companies provides legal recognition to corporate entities and LLPs, enabling them to operate as distinct legal entities with limited liability and perpetual succession.  

Investor Confidence: 

Access to accurate and up-to-date information in the RoC enhances investor confidence, facilitates due diligence processes, and supports informed decision-making by shareholders, creditors, regulators, and other stakeholders.

Compliance and Governance: 

Maintaining accurate records in the RoC promotes corporate transparency, accountability, and adherence to regulatory standards, thereby protecting the interests of shareholders and promoting fair business practices.