About the service
ROC search
report (“search report”) is a report prepared by the practising CA, CS or
Advocate after inspection of the documents or records maintained with the ROC
about a company. It is a tool for the stakeholders or banks of the details of a
company’s records. Usually, banks require a search report of the company while
granting loans to them. They ask for this search report with the purpose to
keep themselves safe from the defaulting companies. The search report helps the
stakeholders to decide on the investment, control and management or to enter
into contact with the company.
The search report generally contains
the following information about a company-
·
Name of the
company
·
Date of
incorporation
·
CIN of the
company
·
The capital
structure of the company
·
Registered
office
·
Details of
the company directors
·
Details of
shareholders
·
Details of
registered charges
Documents required
Name and CIN of the company/LLP
for which the report needs to be prepared
Timeline of the service
The report shall be prepared
within 4-5 working days from the receipt of payment for the same
FAQs
1. 1. Why do banks require a ROC search report?
Search Reports are an integral part of documents required by banks to sanction loans. Banks have become more cautious while granting loans against properties to companies to avoid future consequences. The banks ensure that the company (including directors) are not disqualified or defaulters under any law.
The ROC search report helps the banks in determining whether the
property kept as security is free from encumbrances and no are created against
them. Thus, banks require ROC search report to avoid giving loans to defaulting
companies.
2. 2. How does a ROC search report help stakeholders?
The ROC search report serves the complete purpose of stakeholders to know about the company in which they are going to invest, manage, control, provide loans, enter into a contract, etc.