What are Corporate Secretarial Services?
Every organization has its own unique set of requirements. A one-size-fits-all approach cannot address the diverse needs of an organization and improve its operations to match international standards. This problem is more complex while managing company law obligations. Corporate secretarial services, also known as “Company Secretarial Services”, are the supporting structure to the company’s compliance needs regardless of the nature of the company.
Company secretarial services refer to the administrative functions within a business that ensure good corporate governance, effective communication among stakeholders, and compliance with legislation and laws that govern business.
Why organizations need Corporate Secretarial Services:
Corporate secretarial services play an important role in the smooth operations of the business. The legal structures of every business are different along with its regulatory procedures varying differently. Therefore, comprehensive corporate secretarial services are required for a simple, transparent, and controlled compliance across various jurisdictions.
Key benefits of Corporate Secretarial services:
- Simplifies the process of market entry by easing the administrative burden for a new entrant in the market
- Mitigate risks of corporate non-compliance thereby increasing business efficiency
- Effectively tackles the challenges of changing legal landscape
- Helps in building a scalable business
Our offerings under Corporate Secretarial Services:
MBG provides Corporate Secretarial Services so that corporate non-compliance cannot severely hinder business operations and adversely impact the company, its shareholders, and investors. Our innovative techniques coupled with intricate knowledge on diverse sectors across the India assist in:
1-Entity Formation & Advisory Services:
- Choosing an appropriate Entity Structure in India as per the various Foreign Direct Investment (FDI) options available
- Incorporation of an entity or setting up the chosen entity structure in India including:
- Private Limited Company, Public Company, Wholly Owned Subsidiary, Joint Venture Companies, Non Profit Companies, Limited Liability Partnership (LLP) seeking approval from various government regulatory bodies.
- Setting up of Foreign Companies’ offices in India as Branch Office/ Project Office /Liaison Office (LO/ BO/PO) with the permission from Authorized Dealer Bank/Reserve Bank of IndiaFormulating an appropriate charter document (Memorandum & Articles of Association) for the proposed Indian entity to be set up in India.
- Connection with initial inception of funds for the newly incorporated entity, ensuring compliance under the Foreign Exchange Management Act of India (FEMA)
2- Ongoing and Annual Compliances:
Ensuring Compliances for WOS/ JV:
- Assisting in conducting of Board & General meetings
- Preparation and filing of all prescribed and necessary e-forms with the Registrar of Companies(ROC)
- Providing required assistance for updating of Statutory Registers;
- Declaration,payment and Repatriation of Dividend;
- Support in Compliance related to Issue & Transfer of Shares;
- Preparation and filing of Annual Return and other necessary documents on annual basis with ROC
3- Compliances for Representative Offices (Liaison Office/Branch Office/ Project Office):
- Preparation & filing of annual accounts, forms (Form FC-4) & declaration with Registrar of Companies(ROC);
- Preparation, issuance & filing of annual activity certificate, and filing of audited financial statements with & Authorized Dealer bank for onward submission with the Reserve Bank of India (RBI);
- Filing of annual activity certificate and audited financial statements to Directorate General of Income Tax (DGIT) & Authorized Dealer bank.
4- FEMA Compliance and Advisory:
- Ensuring preparation of necessary forms /intimations to be filed with Reserve Bank of India in respect of any;
- infusion or transfer of funds in Indian entity (filings forms such as Form FC-GPR, Form FC-TRS, etc.);
- Arranging necessary Certificates from Auditors to be submitted along with above said forms /intimations to be filed with RBI;
- Submission of FLA Return under FEMA Act, 1999;
- Advising and assisting at the time of infusion of funds to ensure necessary KYC completion with AD Bank;
- Support services and compliances in relation to procuring External Commercial Borrowing (ECB).
5- Closure/Winding up:
- Legal Closure of Indian Incorporated Companies
- Facilitation for appointment of Insolvency Professional as liquidator under the The Insolvency and Bankruptcy Code, 2016 (“the IBC Code”)
- Preparation of necessary documents as and when required during the entire process of liquidation under the IBC Code such as Public Announcement in newspapers, preparation and filing of MIS reports, Annual Status Reports, convening of general meeting, preparation of claims of stakeholders
- Preparation of preliminary report, Final Report, Filing of Dissolution Order etc
- Liasoning with the authorities from the time to time during the course of winding up
- Assisting the convening of Board Meeting and General Meeting of the Company;
- .Legal Closure of Foreign Companies:
- Assistance in obtaining NOC from statutory authorities, and Registrar of Companies ROC
- Preparation & filing of application to Authorised Dealer Bank/Reserve Bank of India for obtaining permission for remittance of the surplus fund lying in the existing bank account etc
- Liasoning with the Authorised Dealer Bank/Reserve Bank of India for obtaining approval of closure/ winding up of Companies.
- Operational Closure of Indian Incorporated Companies/Foreign Companies:
- Assistance in completion of operational activities required for closure of Companies such as: Termination of lease of office, obtaining security deposit from the landlord/ lessor, completion of other administrative tasks
- Drafting and finalising the Notice/Letter of discontinuation of services for employees
- Preparation of Full and Final Settlement of employees’ dues
