• Notification Date: 18-11-2022
• Notification No: N/A

ROC to take Actions against Unincorporated Entities

Haamid Bukhari from ROC Srinagar while chairing a meeting through video conferencing on the disposal of complaints, gave orders to prioritise the complaints filed against the unincorporated entities. He gave directions to take strict actions against these entities that are disguising themselves as private limited or limited companies. According to the orders of ROC, these entities must be charged with high amount of penalty if required. These unincorporated entities will be referred to other enforcement agencies for further enquiries if needed.   

During the discussion, the speaker also pointed out the matter of defaulting companies who have failed in making secretarial compliances. ROC has ruled to issue show cause notices (SCN) to all such companies who have failed in making appointments of Company Secretaries on their boards. These companies and their Directors shall be subjected to penalties as high as 5 Lakh for non-compliances. 

A separate stocktake meeting will be called next week on the completed inquiries. Inspections will be made on the prosecutions filed in different Courts. In this meeting, the matters of liquidation will also be discussed.