Compliances

How to Cancel an SRN Approved by ROC?

calendar04 Jun, 2024
timeReading Time: 5 Minutes
SRN Approved by ROC

Regulations are a crucial component of any business venture and are more complex in the Indian context, given the vast regulatory framework in the country. Of these, one of the more important functions is the submission of e-forms to the Registrar of Companies (ROC) which comes under the Ministry of Corporate Affairs (MCA). It is done through an office base via the ministry’s website, whereby companies upload the necessary forms and complete the necessary fee payments.

When an organization files an e-form that contains wrong or irrelevant particulars with the SRN and gets authorized, the company may proceed with applying to cancel the SRN approved by ROC.

What is an SRN?

The acknowledgement is a receipt of filing that the company gets as proof of its submission and the payment that is usually referred to as the “challan copy” On this important document, there appears a number SRN, short for Service Request Number, on the left side of the acknowledgement. SRN is a ‘Nine Character Alphanumeric’, a unique identification number given to every e-from filed through the MCA website.

This small and obscure string of characters has great importance for the identification and control of the approval status of the transaction connected with the filed form by the company.

The SRN, therefore, becomes an essential link to ensure that there are harmonized communications between the company and the regulatory authorities throughout the filing and approval process. Hence, the SRN proves to be a significant addition in the world of corporate compliance, where the relationship between companies and maintaining the necessary paper trail becomes convoluted.

The efficiency of the exchange of data between the companies and the relevant governmental authorities is of utmost importance, let’s have an understanding of how to cancel SRN Approved by ROC.

The Process of Canceling an SRN Approved by ROC

Process of Canceling an SRN

Mistakes can occur even in the meticulously regulated realm of corporate compliance. When a company unintentionally files an e-form with incorrect particulars, leading to an SRN Approved by ROC, there exists a mechanism to rectify the situation. However, the process of canceling an SRN Approved by ROC is an offline endeavor, necessitating a physical presence at the concerned authorities.

  1. The Initial Step towards this is visiting the Registrar of Companies (ROC) office within the state where the company’s registered office is located. At this point, the company must submit an application requesting the cancellation of the erroneous SRN Approved by ROC, accompanied by relevant supporting documents.
  2. Upon receiving the application, the ROC will conduct a meticulous analysis of the provided information and documents. This review process typically takes a duration of 15 to 25 days, as the authorities leave no stone unturned in ensuring the validity of the request.
  3. If the ROC finds the form associated with the SRN defective, based on solid grounds, they will grant approval for the cancellation request. This approval is then communicated to the company through the email registered within the MCA’s master data. Meeting MCA Compliance requirements is crucial.
  4. With the SRN Approved by ROC successfully canceled, the company regains the ability to file the corrected e-form on the MCA portal, effectively erasing the previous mistake and allowing them to proceed with the proper regulatory filings.

This process, though seemingly difficult, underscores the importance of accuracy in corporate affairs while providing a safety net for companies to rectify genuine mistakes, thus ensuring transparency and adherence to the highest standards of compliance.

Essential documents to Cancel an SRN Approved by ROC

  • Cancellation Request Letter: Prepare a formal letter addressed to the Registrar of Companies (ROC) requesting the cancellation of the SRN Approved by the ROC. Include essential details such as the SRN No, company information, and the reasons for cancellation.
  • Original Filing Documents: Depending on the type of filing associated with the SRN Approved by ROC, you may need to provide copies of the original filing documents. It ensures that the ROC can verify the details of the initial submission. 
  • Amendment Form (if applicable): If the ROC has a specific form for amending or canceling an approved filing, complete and submit this form along with other required documents.
  • Supporting Evidence: Depending on the reason for cancellation, provide supporting evidence. It might include corrected documents, evidence of errors, or any other relevant records that justify the need for cancellation.
  • Payment Receipt (if applicable): If there are fees associated with the cancellation process, include a copy of the payment receipt or proof of payment. Ensure that you have paid any required fees as per the ROC’s guidelines.
  • Identification Documents: Some jurisdictions may require identification documents to verify the authenticity of the cancellation request. Include copies of passports, national identification cards, or other relevant identification documents.
  • Board Resolution (if applicable): If the cancellation requires board approval, include a copy of the board resolution confirming the decision to cancel the SRN.
  • Power of Attorney (if applicable): If the cancellation request is being made on behalf of the company by an authorized representative, include a copy of the power of attorney or authorization document.
  • Any Additional Documents Specified by ROC: Refer to the specific guidelines provided by the ROC in your jurisdiction. There may be additional documents required based on the nature of the filing and the cancellation process.

Draft Format for the Application for Cancellation of an SRN Approved by ROC

[Your Company Letterhead]

[Date]

To,

The Registrar of Companies (ROC)

[Address of the Respective ROC]

Subject: Application for Cancellation of Approved SRN

Respected Sir/Madam,

We hereby submit this application to request the cancellation of the approved Service Request Number (SRN) [SRN Number] associated with the filing of [Form Name] dated [Filing Date]. The reason for seeking cancellation is [Brief Explanation, e.g., inadvertent error in filing].

The details about this application are as follows:

  • Board Resolution: The Board of Directors has duly passed a resolution confirming the decision to cancel the aforementioned SRN. A copy of the resolution is enclosed herewith.
  • Validity of SRN: We understand the validity guidelines for SRNs issued by the Ministry of Corporate Affairs (MCA) and the need for cancellation in case of inaccuracies.
  • Cancellation Request: We request the cancellation of the approved SRN to rectify the errors and facilitate accurate filing with the MCA.
  • SRN Status: The current status of the SRN can be verified on the MCA portal, and we affirm our commitment to comply with all regulatory requirements.

Supporting Documents: In support of this application, we have enclosed the following documents:

1. Affidavit from [Director’s Name]

2. Undertaking/Declaration signed by [Director’s Name]

3. ROC Challan for Cancellation

We understand that the ROC has the discretionary authority to approve or reject this application. In the event of approval, we will promptly refile the corrected form.

We appreciate your prompt attention to this matter and request that you process this application according to the established procedures.

Thank you for your cooperation.

Yours sincerely,

[Director’s Name]

[Designation]

[Company Name]

Enclosures:

1. Board Resolution

2. [List of other supporting documents]

Conclusion

The method to cancel an SRN that has been approved by the ROC may be an offline exercise. However, this phase affords companies the chance to correct real errors made in their regulatory disclosures. To request for cancellation, companies must complete and apply with all relevant attachments to the concerned ROC, which takes about 15-25 days for the reviewing process. After they have been approved, they can refile the corrected e-form, which, to the letter, obeys the compliance standard but without compromising the transparency of the report. This structured mechanism demonstrates the strength of India’s corporate compliance structure and encourages investors to engage with a trustworthy company.

Frequently Asked Questions

  1. What is an SRN, and why is it important?

    SRN stands for Service Request Number, a unique identification number assigned to every e-form filed through the Ministry of Corporate Affairs (MCA) website. It plays a crucial role in tracking the approval status of the transaction associated with the filed form.

  2. What are the reasons for canceling an SRN approved by the ROC?

    Companies may seek to cancel an approved SRN due to inadvertent errors in filing, incorrect particulars, or any other genuine mistakes that need rectification.

  3. Can any company cancel an approved SRN?

    No, the process of canceling an approved SRN is an offline endeavor and requires applying to the concerned Registrar of Companies (ROC) office where the company's registered office is located.

  4. What is the timeline for the ROC to process an SRN cancellation request?

    The review process for an SRN cancellation request typically takes between 15 to 25 days, as the ROC conducts a meticulous analysis of the provided information and documents.

  5. What happens if the ROC approves the cancellation request?

    If the ROC finds the form associated with the SRN to be defective and approves the cancellation request, the company will be notified via the email registered with the MCA. The company can then proceed to file the corrected e-form on the MCA portal.

  6. What are the essential documents required for an SRN cancellation application?

    The essential documents include a cancellation request letter, original filing documents, amendment forms (if applicable), supporting evidence, payment receipts, identification documents, board resolutions, and any additional documents specified by the ROC.

  7. Is there a fee associated with canceling an approved SRN?

    While the process may or may not involve fees, it is essential to check the ROC's guidelines and include any required payment receipts or proof of payment with the cancellation application.

  8. Can a company refile the corrected form immediately after the SRN cancellation?

    Yes, once the SRN is successfully canceled, the company can again file the corrected e-form on the MCA portal, effectively erasing the previous mistake.

Read our article Importance Of Annual Compliance For Pvt Ltd. Companies

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