If your inquiry is related to updating or correcting information, please follow the guidance above. For those concerned about the visibility of their corporate information, the rest of this article will clarify the legal foundations for our practices and why transparency is crucial for corporate accountability.
In recent years, the Ministry of Corporate Affairs (MCA) has taken significant steps to enforce compliance among companies operating in India. One of the most notable actions has been the striking off of over 8 lakh companies from the Register of Companies for failing to meet their compliance obligations. This staggering figure highlights a growing issue: nearly 1 in every 3 companies in India is non-compliant with the legal requirements set forth by the Companies Act, 2013.
Non-compliance can have severe consequences, including hefty penalties, legal challenges, and in extreme cases, the dissolution of the company. Unfortunately, many business owners and directors are unaware of their compliance obligations, leading to inadvertent violations that could have been easily avoided. This lack of awareness underscores the importance of transparency and access to reliable, real-time information about a company’s compliance status.
The publication of corporate information is not just a matter of convenience; it is a legal requirement mandated by the Companies Act, 2013. This legislation was enacted to ensure that corporate entities in India operate with transparency, allowing stakeholders such as investors, creditors, and the general public to access vital information about companies and their directors.
At Filesure, we recognized a growing issue in the corporate sector—many companies, particularly small and medium-sized enterprises, struggle to keep up with their compliance obligations. This often results in severe penalties, legal challenges, or even the striking off of companies from the Register of Companies. To address this challenge, we created Filesure with the goal of helping businesses stay compliant and avoid these pitfalls by providing easy access to real-time compliance information.
Our platform is designed not only to display compliance status but also to enhance it by showing which obligations are completed, which are pending, and what actions need to be taken. By making this information easily accessible, Filesure supports companies in maintaining transparency and staying on top of their legal requirements.
While we understand that some companies may be uncomfortable with their information being publicly accessible, it is important to note that Filesure is legally obligated to maintain the accuracy and availability of publicly accessible corporate information.
When corporate information is made available in the public domain by a government body like the Ministry of Corporate Affairs (MCA), it can be legally reproduced or republished by other entities. This is because once information enters the public domain, it is no longer protected by privacy laws to the same extent as private information.
At Filesure, our mission is to help companies navigate the complex landscape of corporate compliance. We recognize the challenges that businesses face in keeping up with their legal obligations, and our platform is designed to make compliance management as straightforward as possible.
One of the key features of Filesure is our comprehensive compliance table, which integrates real-time data directly from the MCA portal. This table provides a clear overview of a company’s compliance status, showing which requirements have been fulfilled, which are pending, and which need immediate attention. We even provide details on fees paid, due dates, and any penalties incurred.
Our platform goes beyond simply displaying compliance data. We offer proactive solutions by highlighting upcoming deadlines and alerting users to actions that need to be taken to avoid non-compliance. This approach helps businesses stay ahead of their obligations, reducing the risk of penalties and ensuring they remain in good standing with regulatory authorities.
At Filesure, our goal is to empower businesses by providing them with the tools and information they need to stay compliant with the law. We understand that the consequences of non-compliance can be severe, and we are here to help companies avoid those pitfalls by ensuring they have access to the most up-to-date compliance information.
However, if you still have concerns about the publication of your company’s information on our platform, we recommend consulting with a legal professional to explore your options. Our practices are fully compliant with Indian law, but we understand that every situation is unique.
The information provided in this article reflects Filesure’s understanding of the legal requirements surrounding corporate compliance and the publication of publicly accessible information. This article is not intended as legal advice. For specific legal concerns, please consult a qualified lawyer.