Compliances

It is mandatory for every company incorporated in India whether public or private to file the various e-Forms along with the necessary documents with the Registrar of Companies.
Annual filing of the company includes all the documentation related to the filing of financial statements and Annual return which consists of information that includes the Financial Statements of the company, Registered Office Address, Shares and Debenture details, Debt details and information about the Management of the Company. The annual return would also disclose the shareholdings structure of the Company, changes in Directorship and details of the transfer of securities (if any).
vent Based Filing includes intimation to Registrar of Companies related to change in directorship, registered office, auditor(s), creation / satisfaction of charge on assets of the Company, Allotment of shares and filing of certain resolutions as prescribed under Companies Act, 2013 with Registrar of Companies.
Non-filing of annual or event based returns will invoke heavy penalty on the Company.

Every Company incorporated in India is required to maintain statutory registers, records and Minutes. These records can be maintained electronically or physically. Statutory registers, records and Minutes shall be kept at the registered office of the company. Directors, Members of the company and any other person can inspect certain registers and records of the company. Non-Maintenance of the mandatory registers and statutory records attract various penalties on the company, the Directors and every other officer in default.
The statutory records of the company must be kept up to date and where if any changes take place within the company, necessary updation must be made.

Directors are appointed by the shareholders of a Company for the management of a Company. A Private Limited Company is required to have a minimum of two Directors and a Limited Company is required to have a minimum of three Directors. On the other hand, a Limited Liability Partnership (LLP) has Designated Partners and Limited Liability Partnership Act, 2008 requires each LLP to have a minimum of two Designated Partners. Appointment or removal of a Director or Designated Partners is thus required due to various reasons. “Acquittance” can help you file the necessary filings to appoint or remove a Director from your Company or appoint or remove a Designated Partner from your LLP.

The Registered office of a company or an LLP is the principal place of business activities, where all official communication and reminders will be sent. The registered address of the company must always be an effective address for receiving necessary communications, and to avoid delays it is important that all correspondence sent to this address is dealt with promptly.

The authorized capital is the maximum amount of capital which a Company can raise through the issue of shares to its shareholders. Authorized share capital is mentioned in the Memorandum of Association of the company. The company can raise capital up to this amount.
But a company may, during its course of business operation, require additional capital for expansion, meet working capital requirements etc. An increase in authorized capital is required for issuing new shares and inducting more capital into the company.
This process is complicated and time-consuming as it requires permissions of the Registrar of Companies (ROC) and other filing requirements.

A Company may issue its shares by way of right issue, bonus issue, private placement and preferential allotment. Right issue or bonus issue is used in case of a share issue to the existing shareholders while, Private placement or preferential allotment is used to offer securities to a selected group of people.

Procedural requirements for creation, modification and satisfaction of charges and registration thereof by the Registrar of Companies.

Procedural requirements for transfer of shares by preparing share transfer deed, updating share certificates; and other ancillary documents related to transfer of securities.

Foreign Exchange Management Act, 1999 (‘FEMA’) is one of the key Indian legislations brought into force with an objective of facilitating external trade and payments and for promoting the orderly development and maintenance of foreign exchange market in India. Reserve Bank of India (‘RBI’), which is the Apex Bank, governs FEMA and Regulations made there under.
“Acquittance” helps the corporate in Annual and Event Based Compliances / Returns specified under FEMA for Indian Companies having FDI and for Indian entities having investments in overseas Joint Venture (‘JV’) and/or Wholly Owned Subsidiary (‘WOS’) (‘collectively referred as ODI’).

In today’s modern business world contracts are a necessity. But numerous laws, regulations and unforeseen events make dealing with business contracts complicated. The breach of contracts may have serious consequences both to your business and reputations.
The Law of Contracts is of great significance as all business transactions are based on contracts. Managing legal issues in contracts is essential for profitability and sustainability of the organization. Contract Management is the process which ensures the both parties to the contract fully meet up their respective obligations as effective as possible and “Acquittance” help in do the same.

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