Posted In: Civil Law
Posted By: RASHICHOUDHARY
A grievance against a corporation is often filed by any individual to grasp the functioning associated management of the corporation or by investors. If a corporation defaults, associate investors may well be left in lurch, there's no direct remedy to make sure compensation of the deposit/investment quantity. All one will do is to place pressure on the corporate to pay and will take the choice of raising the matter with involved authorities.The most recent case in purpose is that the Sahara group of companies garb many investment schemes have defaulted in payments of Rs.20,000 crores and is currently troubled to pay back thousands of investors. Under such circumstances, the legal and procedural remedy obtainable to someone is to approach the Registrar of firms that is underneath the executive management of the Ministry of company Affairs or explore different alternate remedies.
Who will file a complaint?
Under Section 206(4) of the Act, representations are often created by any individual alleging considerations over the management of the business or the manner it's being conducted for any unlawful or dishonorable purpose or non-compliance with the statutory compliances.
The corresponding provision within the recent Act to Section 206(4) of the businesses Act, 2013 explicit that the representations to the Registrar was to be created by any tributary or mortal or the other person interested. The new Act doesn't impose any such limitation. It's currently hospitable for any individual to wake up the notice of the Roc.
What role does the Registrar of Companies play?
Under Section seventy five of firms Act, 2013, a registrar is statutorily to blame for registering new firms and discharging varied functions underneath the businesses Act, 201. Under Section 396 of the Act defines that The Registrar of firms is unconditional with the first duty of registering firms across varied states within the country and therefore the Central Government manages the state offices through the Regional administrators of the several states or zones comprising one or a lot of states.
The primary role of ROC is to issue certificates of incorporation of the businesses. Besides this, it additionally operates as a written record of records of all the firms registered with them and are accessible to the overall public for examination on payment of fees. It isn't just an associate workplace of record however it additionally plays an important role in guaranteeing statutory compliances underneath the Act. it's necessary for all incorporated firms to meet all statutory compliances and legal norms. within the event there's a violation by the businesses in permanent these necessities, the mythical monster is authorized to require necessary action against the businesses. Section 206 to 209 discusses the facility of the Registrar of Companies.
The ROC under Section 206 of the Act to incorporate data, examine books and conduct inquiries. The Registrar will demand documents or records through a written notice and additionally request a proof in writing at intervals the prescribed time. In case, the response received isn't satisfactory it will demand any explanations or examination of records.
In this regard, it's vital to say that the Registrar will take up a difficulty suo-moto or he will launch associate inquiry on the premise of a illustration created by any individual furnishing adequate data indicating that the defaulting company isn't carrying the business lawfully or during a dishonorable manner or in violation of the statutory necessities.
Section 207 of the Act vests within the registrar the facility of the Civil Court for conducting examination and inquiry underneath Section 206. It will incorporate records, summon persons and examine them on oath. under Section 208, the Registrar is of the opinion that any investigation would be needed into the affairs of the corporate then he will submit a report back to the central Government at the side of supporting documents to any investigation.
How to file a grievance with the RoC?
Earlier there was no prescribed format to file a grievance to form a representation to the Roc underneath the Act. However currently with easy accessibility to digital media, filing a grievance is longer economical and fewer cumbersome. The Ministry of company Affairs includes a dedicated page on its web site wherever one will lodge a grievance within the comfort of an area. identical are often tired simple steps given below;
Go to the website of the Ministry of company affairs(MCA) and click on the MCA services and within the sink list, click on complaints associated you'll lean associate choice to produce a capitalist grievance and you'll be directed to the capitalist grievance type. you will fill all the required data and submit your grievance on-line.
You all have the choice of filing a particular grievance like service connected complaints, following that you'll be directed to the suitable type and submit it on-line
After these steps, one must extra service the check type and Pre-scrutinize the shape to avoid errors. One ought to make sure that there's correct net property whereas playing these steps on the MCA portal.
Log in to the portal exploitation the registered user login id created whereas filling up the shape and use the E-form transfer practicality underneath the E-forms tab on the portal to transfer the capitalist grievance type.
On success uploading the shape, one ought to author the Service Request range for any future communication reference.
The MCA website provides for a large variety of choices for filing a grievance against a corporation. One will file a grievance concerning non-filing of the modification in nature of business administered by the corporate, non-filing of the modification within the name of a director of the corporate, complaints relating to shares, bonds, fastened Deposits etc.