The ROC full form in law is Registrar of Companies. The ROC is in charge of managing company and limited liability partnership registrations and making sure that the rules of the Companies Act, 2013 are followed. Information on companies registered in India, such as their incorporation, directors, shareholders, and financial accounts, is kept up to date by the Registrar of Companies.
Key functions of ROC:
One of the ROC’s primary responsibilities is to register new businesses and make sure they adhere to the legal criteria. This office keeps an eye on and evaluates corporation filings, including balance sheets, annual returns, and other legally mandated paperwork. The ROC also makes sure that businesses follow the rules, which include holding frequent board meetings, hiring auditors, and keeping their business practices transparent.
Significance of ROC in law:
Making company records accessible to the public is one of the ROC’s other key responsibilities. This makes important information about a company’s legal status, organizational structure, and financial health accessible to stakeholders, investors, and the general public. Additionally, corporations that breach the corporations Act. For example, by failing to comply with filing requirements or engaging in fraudulent activities may face legal action from the ROC.