Huge late fee, keep pending as Limited Liability Concept
This query is : Resolved
16 April 2025
pvt ltd company doesnt want to do business any more.
late fee for non filing comes more than net worth of pvt. ltd. cant apply for dormant status also as slight transactions were there.
my q--> can we ignore the filings completely as net worth is less than late filng fee. (net worth is just 50 thousand rupees, filing fee 3 lakhs).
my view--> yes, its limited liability right? pvt ltd. hence, let late fee rise,
late fee for non filing comes more than net worth of pvt. ltd. cant apply for dormant status also as slight transactions were there.
my q--> can we ignore the filings completely as net worth is less than late filng fee. (net worth is just 50 thousand rupees, filing fee 3 lakhs).
my view--> yes, its limited liability right? pvt ltd. hence, let late fee rise,
Nikhil Kaushik
(Expert)
16 April 2025
can you ignore as a company, yes. But can you ignore as directors - not yes. Non filing will attract disqualification as directors. plus the penalties leviable directly on directors.
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