Details about ROC:
The ROC full form is Registration of Companies It’s a department of the Ministry of Corporate Affairs. The ROC was given primary responsibility for registering businesses and LLPs under Section 609 of the Companies Act (limited liability partnerships). The ROC office keeps a registry of documents pertaining to the businesses it has registered. Upon payment of the required fee, the general public may inspect these records. Some of the Section 609 powers have been transferred to the Registration of Companies by Section 396 of the Companies Act of 2013, which was passed after the Companies Act of 2013.
There are 22 ROCs operating around the nation. A few states, including Maharashtra and Tamil Nadu, currently operate numerous ROCs. The federal government is responsible for overseeing the Registrar of Companies, with the assistance of regional directors. For the ROCs in their different regions, there are seven regional directors.
Functions of ROC:
- The process of registering a company, also known as incorporating a company, is overseen by the ROC.
- It is in charge of monitoring and reporting on the company’s numerous compliances and documentation. The concerned government officials and governing bodies receive information from the ROC regarding the shareholders and directors of the registered company.
- In order to foster an appropriate, ethical, and productive business culture among the many registered member firms, The ROC full form Registration of Companies is essential.
- For a corporation to be formed, ROC approval is required. Upon successful registration with the authority, the Registrar of Firms issues an incorporation certificate to the companies. The only way for a company to stop existing once it has been incorporated and registered with the ROC is if its name is formally struck off by the ROC’s registrar.
- The companies may provide the ROC with other information, such as books of accounts, etc.