What Is ROC?
ROC is known as the Registrar Of Companies. It is governed under the supervision of the Ministry of corporate affairs. It is an office where all the pacts regarding the management of companies and liability alliances in India.
The Ministry of Corporate affairs is the supreme body that runs the ROC. To know about the functions and role of Registrar of companies, continue reading below.
The main task of ROCs is to register all the companies and LPSs of all states and Union territories. They maintain a record of all companies and hand it over to regional directors.
Features Of ROCs
ROC stands for registrar of companies. It has abundant features and specifications. Some of them are listed below:
- ROC has a separate office in each state and union territory, in some states like Tamil Nadu and Maharashtra there are two ROC offices.
- Currently, there are about 7 regional directors who supervise the operations of ROC. A regional director wields supervision of more than 5 ROC offices in its province.
- Each Regional Director reports to the central government about the report of annual records of companies.
- The minister of corporate affairs is the decision-making body in the central government that works for the welfare of ROCs.
Functions Of ROCs
ROC has numerous functions to govern. Some of the most important functions of ROCs are listed below:
- The main objective of ROCs is the maintenance of registration of companies all over the country. No company can set up without registration from ROC.
- ROC files a petition for the meandering up of a company or incorporation.
- To come into existence, a company needs to register and get approval from ROC. A certificate of incorporation is provided to the registered company which is only the testimony for the presence of a company.
- The ROC plays a vital role in developing & encouraging business communities.
- All the records related to a company including specifications, shareholders, directors, regulations, and administrators of a company are maintained by ROC.
What Is The Role Of ROC In Registering A Company?
A company requires a certificate of incorporation to come into existence. This certificate is allocated by ROC after satisfying that the company meets all the requirements and standards made by the Ministry of Corporate Affairs.
A company submits documentation regarding the registry to ROC including the following:
- Pre-incorporation agreement
- Memorandum of Association
- Appointing director list
- Managing chairpersons list
- Declaration certificate by owner
After submitting the documents, ROC releases the certificate of incorporation and commencement of business along with the name of the company.
Under what circumstances does ROC Reject Registering Requests Of A Company?
There are a lot of conditions when the Registrar Of Companies denies registering a company. These are:
- If the company has an objectionable name, the name that harms the religious sentiments is prohibited by the ROC offices.
- If the company doesn’t meet all the requirements of being incorporated.
- If a company has unlawful objectives and intentions like MLM without products.
Hence, Registrar Of Companies is the supreme body that governs the registers of a company. If the company meets all the requirements and eligibility if being incorporated then ROC will easily register it. But there is something faulty and discouraged in the purpose of the company then ROC refuses to register such a company.