Since 2016, Director General of Corporate Affairs (DGCoA) is the top most bureaucrat from ICLS who is equivalent to the post of Additional Secretary to the Union of India (HAG).
Members belonging to Group B Posts such as Company Prosecutors & Senior Technical Assistants, employed with the Ministry are gradually promoted to ICLS after completely mandated residency period within their own services.
The RoC has the power to take action against companies that fail to submit requisite documents in time or for production of incorrect/incomplete information.
The registered documents are made available to the Shareholders, Investors and the General public at large through an online portal MCA21 at a payment of nominal fee.
Corporates functioning in India will have to abide by all statutory requirements and it is the duty cast on the office of the Registrar of Companies to ensure that all norms are followed and that any violations are penalised as per the law.
[11] The RoC also has suo-moto powers to conduct inquiry of companies[12] and if deemed necessary, investigation can also be proposed[13] to be carried out, all violations can be brought to book [14]and both civil and criminal prosecution would be initiated.
[17] The ROCs have a major responsibility to keep the corporate registry clean[18][19][20][21] and to ensure that illegal shell companies are identified and taken action against.
[22] Off late, the RoCs have been emerging as the primary government agencies working towards punishing errant companies facilitating high-risk equity investing from general public bypassing stock-exchange regulations[23][24] and in enforcing corporate transparency with impactful actions relating to Significant Beneficial Ownership norms.
The Official Liquidator is responsible for winding up of the companies that are ordered to be wound up by the Hon'ble High Court under several grounds, the most common being the inability to pay its debts.