Section 403 Explained: Why Rs 100 Per Day Late Fee Applies on AOC-4 & MGT-7

PART-1

Section 403 of the Companies Act, 2013: (Fee for filing, etc.)

Section 403(1)

States that when a document required to be filed under the Act is not filed within the prescribed time, it may still be filed after the due date on payment of an additional fee.

The simplified keyline:

A document may be filed after the prescribed period on payment of such additional fee as may be prescribed.

• This section gives the legal authority to charge additional fee for late filing.

PART-2

# Then comes the Rule that fixes Rs 100 per day

The actual amount of late fee is prescribed in: Companies (Registration Offices and Fees) Rules, 2014

Rule 12 + Annexure (Table of Additional Fees)

This table specifically provides:

For delayed filing of:

• AOC-4
• MGT-7

Additional fee = Rs 100 per day of delay from the original due date till the actual filing date.

This is why the calculation starts from the original statutory due date, even if AGM is held later.

PART-3

Why delay counted from original due date?

Because:

• Section 137 and Section 92 fix the statutory due dates .
• Section 403 says late filing allowed with additional fee.
• Fee Rules prescribe ₹100/day for the period of delay .
• The delay legally begins from the first missed due date .

Legal chain (very important)

1. Sec 92 → Annual return must be filed in 60 days
2. Sec 137 → Financials must be filed in 30 days
3. Sec 403 → Late filing allowed with additional fee
4. Registration Office & Fees Rules → ₹100/day till actual filing

Conclusion

As per the provisions of the Companies Act, 2013, the financial statements and annual return are required to be filed within the timelines prescribed under Sections 137 and 92 respectively. Where such documents are not filed within the prescribed period, Section 403 of the Act permits delayed filing upon payment of additional fees as prescribed under the Companies (Registration Offices and Fees) Rules, 2014. The said Rules provide that, in case of delay, an additional fee of ₹100 per day is payable from the original due date of filing up to the actual date of filing, without any upper cap. Accordingly, even though the pending financial statements and annual returns were adopted in the belated AGM, the additional filing fees are computed from the respective original statutory due dates till the date of filing with the Registrar of Companies.