Company Compliance and Regulatory Filings by Sigma Solutions
Introduction
A mid-sized IT consulting company based in Northeast India faced escalating regulatory and legal risks due to missed MCA filings, inconsistent tax compliance, and lapsed certifications. These oversights delayed license renewals, attracted government notices, and hindered expansion opportunities.
To get back on track, the firm partnered with Sigma Solutions to establish a structured compliance and regulatory management system.
Challenges Faced
1. Missed Statutory Filings & Penalties
- Delayed:
- AOC-4 (Financial Statements)
- MGT-7 (Annual Return)
- GST Returns and TDS Filings
- Resulted in:
- Penalty notices and blocked GST input credits
2. Non-Compliance with Corporate Laws
- Ignorance of:
- Board meetings requirements
- Director disclosures
- Statutory audit timelines under the Companies Act, 2013
3. Licensing & Certification Renewal Issues
- Delays in:
- ISO certification
- Trade license
- GST registration renewals
4. Operational Risks Due to Legal Notices
- Received multiple notices from regulatory departments
- Risked business suspension and reputation damage
5. Lack of Internal Compliance Infrastructure
- No:
- Compliance calendar
- Filing reminders
- Governance policy manual
Solution Provided by Sigma Solutions
Sigma Solutions executed a complete compliance overhaul, establishing legal order across MCA, GST, TDS, and certification domains through automation and expert advisory.
Implementation Process
1. Compliance Audit & Regulatory Gap Analysis
- Reviewed:
- 3 years of pending filings
- Tax returns
- Board documentation
- Created:
- A custom compliance roadmap covering:
- MCA
- GST
- TDS
- ISO
- EPF
- A custom compliance roadmap covering:
2. MCA & Company Law Compliance
- Filed:
- AOC-4 & MGT-7 for multiple financial years
- Supported:
- Board meeting documentation
- Director declarations and ROC updates
3. Tax Filings & Financial Compliance
- Corrected:
- Past GST mismatches
- Delayed TDS returns
- Implemented:
- A tax compliance calendar with automated reminders
4. License Renewals & Regulatory Certification
- Renewed:
- Trade license
- ISO 9001 certification
- Obtained:
- Updated GST registration
- Shop & Establishment license for new branches
5. Automation & Risk Monitoring
- Installed:
- Cloud-based compliance tracker for MCA, GST, and ROC filings
- Enabled:
- Monthly alerts and document repository access for all stakeholders
Results Achieved
Outcome | Impact |
100% Statutory Compliance | No missed deadlines or filings |
₹5 Lakhs Saved | Avoided penalties through timely corrective action |
ISO & License Renewals | Secured approvals for business operations |
Risk-Free Operations | No legal notices or regulatory blocks post-implementation |
Improved Investor Confidence | Financial credibility helped with loan applications |
Conclusion & Key Takeaways
A structured corporate compliance framework is critical to avoid legal troubles, funding blocks, and brand damage. Sigma Solutions implemented a proactive compliance model that eliminated risk, restored operational efficiency, and supported future business expansion.
Lessons Learned
- Don’t wait for a penalty notice—proactive compliance saves money and stress
- Regular board governance and MCA filings build investor confidence
- Automated tracking tools prevent future legal issues
Related Services by Sigma Solutions
- Auditing & Financial Reporting
- GST & Corporate Tax Filings
- ISO Certification & Business Licensing
- Payroll Compliance (ESI, EPF, PT)
- Investor Due Diligence & Governance Advisory
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Client Testimonial
“Sigma Solutions helped us get our
compliance back on track. They handled everything—from MCA filings to tax
compliance—saving us from heavy penalties. Now, we operate smoothly and legally
without any risks. Highly recommended!”
— Managing Director, IT Consulting Firm, Northeast India