Corporate Secretarial & Regulatory Compliance

       The compliance requirements for a business would vary depending on the type of entity, industry, date and state of incorporation,                      number of employees, profits and turnover.

        Annual compliance:

  •  Limited liability Partnership (LLP): LLPs have to maintain their financial year as April 1st to March 31st. They are required to maintain proper book of accounts and get the accounts audited based on the turnover and contribution. LLPs in India must file its Annual Return within 60 days from the close of financial year and Statement of Account & Solvency within 30 days from end of six months of close of financial year with the Ministry of Corporate Affairs.
  •  Companies registered in India: Companies Registered in India are required to maintain proper books of accounts, records, statutory registers, convene and hold regular board and other meetings, also maintain the minutes as per Secretarial Standards, etc.
  •  Other annual compliances include circulation of financial statements & other relevant documents, convening the annual general meeting, appointing statutory auditors, filing annual electronic forms including XBRL filing of financial statements, annual returns, etc.

            Filing returns for Companies registered in India will be made with authorities like Ministry of Corporate Affairs, Ministry of Finance,                          Ministry of Micro, Small and Medium Enterprises, Reserve Bank of India, Securities & Exchange Board of India (SEBI), etc.

      Event based compliance in case of:

  •  Change of Name
  •  Amendment of Memorandum of Association & Articles of Association
  •  Change in the Registered Office of the entity
  •  Addition and Removal of Directors/ Partners/Designated Partners
  • Increase in Authorised Share Capital
  • Share allotment, Share Transfer, Share warrants – its administration and implementation
  •  Employees Stock Options – its administration and implementation
  •  Buy-back of Securities
  •  Reduction of Capital
  •  Change in Contribution in case of LLP
  • Debentures
  • Striking off Name of the Company
  • Winding up of Company
  • Conversion of Company
  • Search and Status reports
  •  Registration of Charge
  • Change in Statutory Auditor
  •  Reviving Active Companies that have been “Struck off”
  •  Filings under Condonation of Delay Scheme (CODS)
  • Corporate Social Responsibility (CSR) – Conceptualization & Consultation
  • CSR Management
  • Audit and Certification services
  •  Making Applications To & Appearance/Representation before Registrar of Companies, Regional Director and National Company Law Tribunal
  •  Regulatory Approvals & Compliances- DIPP, STPI, SEZ, RBI, SEBI, IRDAI, DGS&D, TRAI, etc
  • Director Disqualification services
  • Company Strike off
  • Records and Documentation
  • Corporate Governance

        Regulatory Compliance:

       The policies and practices corporations use to comply with external mandates, usually from governing bodies:

        Areas of Compliance

1. Financial Reporting and Disclosure:

o Complying with accounting standards and regulations.

o Ensuring timely and accurate financial disclosures.

2. Anti-Money Laundering (AML) and Know Your Customer (KYC):

o Implementing procedures to prevent money laundering and terrorist financing.

o Conducting due diligence on clients and transactions.

3. Data Protection and Privacy:

o Adhering to data protection laws (e.g., GDPR).

o Implementing policies to safeguard personal and sensitive information.

4. Health and Safety:

o Ensuring a safe working environment.

o Complying with occupational health and safety regulations.

5. Environmental Compliance:

o Adhering to environmental laws and regulations.

o Implementing sustainable practices and reporting on environmental impact.

6. Labor and Employment Laws:

o Complying with labor regulations and employee rights.

o Implementing fair employment practices and avoiding discrimination.

7. Industry-Specific Regulations:

o Adhering to specific regulations relevant to the industry (e.g., financial services, healthcare).

Key Processes

· Regulatory Reporting: Submitting required reports and disclosures to regulatory bodies.

· Compliance Audits: Conducting internal audits to ensure adherence to regulations and policies.

· Risk Management: Identifying and mitigating compliance risks.

· Training and Awareness: Educating employees on compliance requirements and ethical standards.

· Policy Development: Creating and updating policies to ensure regulatory compliance.

Regulatory Bodies

· Government Agencies: Various national and local agencies oversee compliance (e.g., SEC, OSHA, EPA).

· Industry Regulators: Specific to certain sectors (e.g., FINRA for financial services, FDA for pharmaceuticals).

· Self-Regulatory Organizations: Bodies that regulate through collective industry standards (e.g., the New York Stock Exchange).

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