ROC Search Report
ROC Search Report
ROC search report is a summarised report that a certified CA, CS, or Advocate prepares upon examining all documents and records. The Registrar of Companies (ROC) maintains these records about the company. For banks and stakeholders, it proves really handy to discover all about the company. Typically, banks approve loans after discovering this search report. They seek it for analysing if the company is fraudulent or not. For stakeholders, it describes whether the company is a good fit for investment, acquiring, managing, or entering into a contract with the company.
Here, the role of the Registrar of Companies (ROC) is significant. This role is designated under Section 609 of the Companies Act, 2013 in different states of India. Its key role is to register companies under the Act. Every ROC reports to the Ministry of Corporate Affairs (MCA). It maintains the records of the registered companies. The Act defines that companies have to file documents with this authority from time to time because it defines the jurisdiction of ROC.
These filed documents are put in the register of the Registrar of Company and availed publically on paying out the prescribed fee. People can have easy access to its certificate of incorporation, address of the company, details of directors, registered capital, nature of business, accounts of company and shareholders details,
What Search Report Includes
• Name of the Company
• CIN Number
• Registered Office Address
• Capital Structure
• List of Directors
• List of Shareholders
• List of Registered Charges
Process of Preparing Search Report
There are two ways to prepare this report. One is physically visiting the office of the ROC. The other one is verifying the documents that you upload on the MCA website. You need to pay a prescribed fee and then, visit the office for one-on-one verification of all documents. It is a must to visit there along with the Challan (paid for fees). It should be in the name of the person who is going to examine the company's records It can be in the name of the company provided that he has an authority letter for this purpose.
Here, you should remember that all details should be written with a pencil during the inspection. Avoid writing with a pen because it is not allowed.
For the payment of fees, the website shows multiple options. You can select the one that you want to pay out through. Afterward, you can see the documents under the View Public Document option. Click the MCA Services tab for it. These documents are viewable for one week only. Also, you cannot see them for more than 3 hours in a row.
Benefits of Search Report
• Approval or Disapproval of Loan
As aforementioned, this report helps banks to analyse the company's potential for repaying the loan. These financial entities determine fraud activities or default directors. This report reads the company's title of the properties. It displays all details of charge holders, hypothecation, and mortgage.
• Investment Analysis
Shareholders are mainly interested in discovering the status of the company. This report lets them find the status of their shares in the company with the date of their transfer. With all details related to its incorporation and history in hand, stakeholders find it easy to make a decision on investing in the company.
• Discover Liability of Directors
A person can see this report and thoroughly analyse the search report before becoming the director of the company. The exact report about assets and liabilities guides him to enter into any contract or agreement with the company.
CAAQ is a leading business compliance consultant where a team of qualified ROC search report consultants provide support to customers. Contact us for any company’s search report.