HomeInvestment NetworkBusiness Owner's GuideEvent-based Compliances you need to know!

Event-based Compliances you need to know!

Change is a constant phenomenon that we experience in every sphere we are a part of and business is no exception to that. Private limited companies can have events such as change in director or change of the registered office. The Government of India considers it essential to track such events and has mandated certain event-based compliances for a private limited company which need to be met by a given deadline to avoid penalties.

Here’s a quick list of all the event-based compliances to keep in mind:

Event Form Deadline
Change in registered office addressINC-22 Within 15 days of the change
Change in director or KMPDIR-12 Within 30 days of the change
Alteration in share capitalSH-7Within 30 days after the Ordinary Resolution is passed
Filing of resolutions and agreementsMGT-14 Within 30 days after passing the resolution
Allotment of sharesPAS-3Within 15 days after allotment
Conversion of private limited company into public companyINC-27Within 15 days after the Special Resolution is passed
Intimation of change in particulars of directorDIR-6Within 30 days of the change
Return of DepositDPT-3On or before June 30th every year

If these compliances for a private limited company are not met, or there is a delay, penalties levied can include additional fees or a compounding of offence. As per The Companies Act, 2013, the penalty/fine or imprisonment will be levied on the officer in default and/or the company. The Managing Director or Executive Director are considered to be the “officer in default” and in their absence, all directors and KMP are considered as the “officer in default”. Event-based compliances are as essential as filing business income returns. Delay in filing of forms can cost a private limited company an additional filing fee as well.

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