Shifting your registered office within a state has to comply with the rules under the Companies Act of 2013. Read more about the same
What is a Registered Office of a Company
The registered office of a company is the main company that is registered under the Registrar Of Companies (ROC). As per Section 12 of the Companies Act, 2013 it is necessary to document the registered address of the firm. It has to be a real address eligible for obtaining official transmission from the government headquarters.
Compliances for Change of Firm Outside the City but Under Different ROC
The compliances for shifting the registered office of a firm out of the regional limits of the municipality or town from where it is located and from the jurisdiction of one ROC to another ROC within the government are as follows:
- The firm has to conduct a board conference and enact a determination for naming the Extraordinary General Meeting (EGM)
- In the EGM, the firm has to pass a special resolution for shifting the registered office
- Form MGT-14 needs to be documented with the ROC within 30 days of enacting the special resolution to alter the registered office
- The firm should document form INC-23 to the regional director for permission to change positions in its registered office from the jurisdiction of one ROC to another ROC within the state before a month of documenting the petition with the regional director
- Announce the information regarding the shift of office in a daily English magazine and in the vernacular language magazine of that area in which the company’s registered office is located
- Fulfill personal notice on each depositor, debenture proprietor, and creditor of the firm. The report must govern if their attention is likely to be influenced by the formulated substitution in the Memorandum of Association (MOA)
- However, they must express their opposition to the regional director within 21 days from the date mentioned in the report
- When the regional director does not raise any objections, an authorisation notice will be provided within 30 days from the certificate of the petition by the regional director
- The firm shall document the authorisation of the regional director with the ROC in form INC-22 within 60 days from the certificate of authorisation.
Compliances After ROC Authentication for Change in Registered Office
The above-mentioned procedure is only before the movement of companies before addressing change. Now after shifting the company to a new address the following compliances have to be met.
- The company should publish a common notice in a form of publicity in a newspaper notifying all the partners and stakeholders about the shifting of the company’s registered office
- Publishing of new MOA and changing the address of the company’s registered office outside of every department, facility, etc., where it held the industry, in apparent letters and noticeable role
- Change the old address printed on all business letter-heads, letters, statements, billheads, receipt aspects, and other administrator editions with the new address
- Revise the new registered office address with all the banks and economic organisations where the firm is opening their bank accounts
- File a petition with the income tax authority for revising the company address in TAN and PAN
- Revise the company’s new address with its utility assistance providers like telephone and internet bills, electricity providers
- Revise the company’s new address with administration councils like customs authorities, service tax community, and sales tax authorities.
Penalty for Non-compliance Regarding Registered Department Requirements Under the Act
A firm must accept all the requirements of the Act. Non-compliance with the expenditures of the Act will result in liabilities. The firm and every individual in default will be accountable for a loss from ₹1000 for every day and not more than ₹1 lakh.
Situations Under Which a Company Can Change Its Registered Office
The stakeholders and the board of directors determine the area of the registered office. Thus, they can be instructed to alter their registered office address change at any moment. In some cases, a necessity happens to shift the registered office area from one place to another, such as:
- Firms are expected to shift their registered department address when it is growing at a greater pace and the office infrastructure and location do not fit
- When the firm’s office/premises is positioned on leased land the board needs to alter its address by changing to another office area at lease
- When a firm is planning to expand its business beyond geographical barriers for industry development and thus proposals to change positions of its registered department to an area where it can enjoy better market chances. When another firm is subsidizing the firm, the registered office address will be bound to change.
How Vakilsearch Can Help in Changing Your Business Address
Experts at Vakilsearch help multiple companies in a month with the address change. Our experts can complete the whole process in just 3 easy steps. Initially reach out to our expert team and get all your queries answered. Subsequently, they will draft the resolution and submit it to the concerned authorities. We will provide you with complete holistic support throughout the process. The best part is the process will be completed in the least time at an affordable price. If you have any queries reach out to us right now.
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