Recommended flow for your case (simpler and safer):
Company submits registration form → status = "pending"
Admin verifies registration proof and other details
Admin changes status to "approved"
→ now the company can log in
Optional: send email notification to company when approved
So OTP verification is not mandatory if your main verification is admin approval.
If you want, I can update your registration component to handle pending status instead of OTP flow. This way it aligns with your admin verification workflow.
Do you want me to do that?