ROC Search

OVERVIEW

ROC Search Report is a tool in hand of stakeholders or Banks for inspection of a Company’s records. Search Report for ROC is mainly prepared by professionals like CA, CS, CWA, and Advocates after detailed inspection from the records of the Registrar of Companies. Generally, all documents filed or registered by ROC are available for inspection on payment of prescribed fees. The Search Reports of a Company serves purposes of stake holders on making decision on investment, loan advances, control, and management or to enter into a contract with the Company.
Search Report usually includes following details regarding the Company:
1. Name of Company
2. CIN of Company
3. Registered Office Address
4. Capital Structure
5. List of Directors
6. List of Shareholders
7. List of Registered Charges
The Report may include the other matters also as per the demand of the Bank/ Company.

Details required for ROC search

Company Name and CIN of the company is required for preparation of report.

Time Frame  for preparation of report

Depends on company’s documents quantum, usually varies from 2 to 5 working days.

Details in ROC Search
  • Name of Company
  • Registered Office Address of the Company
  • Capital Structure of the Company
  • List of Directors of the company since incorporation
  • List of Shareholders of the company since incorporation
  • List of Registered Charges since incorporation etc.
  • The Report may include the other matters also as per the demand of the Bank Officials.

 

Why the ROC search report is useful for it users

A search report traces the history of a company or the property held by the company- i.e. who is the original owner of the property and how it has mortgaged with various banks over a period of time before reaching the present Bank who has demanded the Search Report. This is an important part of a loan process by Banks to the Companies

Search Report are the basic tool in the hands of the Banks to know about the viability of their customer who approach the banks for CC Limits, Term Loans or otherwise. As the sole moto of the Banks is to provide the loan to the customers is for earning the interest. Hence the Banks want the current position of the assets being pledged by the companies. And the only way to know whether such property is already pledged to some other bank or not, is the Search Report. In such search reports, the Professional gives the complete information about the loans already taken by the company. The basic information given in Search Report about the existing Loans is as follows:

  1. The date of Loan taken by the company and the charge created in such respect
  2. The name and Address of the Charge Holders i.e. Bank
  3. The type of Charge i.e whether joint charge or consortium charge
  4. The Amount of loan
  5. The property Charged or pledged against such loan
  6. The terms and conditions of such loan:
    1. The rate of interest
    2. Terms of Repayment
    3. Margin Money
    4. Extent of Operation

Modification : If the charge has been modified during the continuation of such charge, the details are also provided that on which date the charge had been modified and what was the nature of such modification.

Charge satisfaction: If any time any charge is satisfied, i.e the whole amount is paid back by the company to the Bank, Form CHG 4 in respect of Charge satisfaction is being filed and the information about such satisfaction is also provided by the professional in such report on demand of banks

Hence, it can be said that the search reports serve the complete purpose of stakeholders to know about the company in which they are going to invest, control, manage, provide loan, enter into a contract etc. 

Who needs to get ROC search done

The Banks are more emphasizing on demanding Search Repots from Companies while opening of Bank Accounts or giving the Loan to  Companies. The need for Search Reports arises to keep themselves (Banks) safe and to ensure that the company is not defaulting one or not having defaulting directors and to know the complete history and information about the company. However any person/s looking to get associated with a company may want to conduct its own due diligence of the company may get the ROC search done.

Fill form for ROC Search

    FAQ

    Is DSC Required?

    There is no requirement of the DSC.

    What is the CIN of the company.

    Corporate Identification Number, commonly known as CIN number, is a 21 digit alpha-
    numerical code that is uniquely provided to One Person Company, Public Company, Private
    Company, limited liability partnership, governmental organizations government companies, non-
    governmental organizations, not for profit organizations and so on which are registered by the
    Registrar of Companies.

    Will the ROC search be Certified?

    Yes it is required to get roc search report to be certified by CA,CS,CWA and advocates.