CS Divesh Goyal
Quick Summary
SHORT SUMMARY As per Section 92 and 137 every Company, Shall file Annual Return within 60 days from the date which the Annual General Meeting held. Shall file financial statement along with other documents in AOC-4 within30 days from the date which the Annual General Meeting held; Ho
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FAQ :
AOC-4 (financial statements) must be filed within 30 days, and MGT-7 (annual returns) must be filed within 60 days from the date of the Annual General Meeting.
For non-compliance with Section 92, the company and its officers are liable to a penalty of Rs. 10,000. If the failure continues, there's a further penalty of Rs. 100 per day, up to a maximum of Rs. 200,000 for the company and Rs. 50,000 for an officer.
For non-compliance with Section 137, the company faces a penalty of Rs. 10,000, plus Rs. 100 per day for continued failure, capped at Rs. 200,000. Directors (MD, CFO, or responsible director) also face a Rs. 10,000 penalty, plus Rs. 100 per day, capped at Rs. 50,000 per director.
No, paying additional fees is not sufficient. Companies and their officers are liable to pay penalties as stipulated by the Companies Act, 2013, for non-compliance with filing deadlines.
Filing these documents is crucial for public interest, allowing investors and stakeholders to access fundamental information about the company and its management. Non-filing denies the public access to this vital information.
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