Srinagar, Apr 10: The office of Registrar of Companies (ROC) J&K has asked the Kashmir Chamber of Commerce and Industry (KCCI) to submit an updated list of its detailed membership to the office immediately along with the necessary details of subscription fee and other allied authorisation letters. The letter reads that the KCCI constitution and its Articles of Association were incorporated in 1935 and have become near redundant losing relevance thus it necessitates an amendment to its Articles of Association to incorporate new changes that took place with the onset of the Companies Act, 2013.”It is pertinent to mention that KCCI is an incorporated Non-for-profit company with the ROC J&K and it is learnt that the company as of date is active ‘non-compliant’ due to non-filing of any document with the office since 2018,” an official statement said.”Companies Act 2013 mandates the companies to conduct and conclude their AGMs every year and file the returns with the Registrar annually. It is also mandatory to file Balance-sheet and all the financials with the office of ROC annually and non-filling of documents is a serious offence and is to be dealt with either with the prosecution filed in the lower courts or adjudication in the ROC’s chamber, strictly as per the relevant sections of Companies Act,” the statement reads.
It is pertinent to mention that KCCI is incorporated under the Companies Act 1956 with the Government of India and it is the Article of Association (AOA) that allows the Chamber to have a committee and hold the elections for several posts like President, General Secretary, Treasurer etc to the committee in time bound manner. All the activities of KCCI and its executive committee are governed by the Companies Act, 1956 and Companies Act, 2013 and regulated by the office of Registrar of Companies, J&K located at the capital cities of Jammu and Srinagar. The Srinagar office of ROC was effectively operationalised by the Government of India in September 2019 with the posting of officers/officials.
After a gap of two years, KCCI recently held its elections. Following the elections to officer bearers of the Kashmir Chamber of Commerce and Industry (KCCI), Javaid Ahmad Bhat (Tenga) was elected as the president of the business body along with other members of the executive committee, the statement said.