Company law

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CS kanak (Querist)
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27 June 2020 Hi,
It has been observed many pvt. as well as govt. companies neither conducting their AGM nor filling their balance sheet with ROC from 2016-17,still they are doing their business smoothly .
How is possible ? and what are the provisions for this.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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27 June 2020 In case the company has not filed its Annual Return for the last two financial years continuously, then such companies would be termed as an “inactive company”. On such a classification, the bank account of the company could be frozen. Further, the Registrar could also issue a notice to the Company and initiate strike-off of the company from the MCA records.

c.bakshi

c.bakshi (Expert)
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28 June 2020 it is old regime dear now from the last year these companies will not survive and they become inactive and non compliant company. however, Govt. provides them last opportunity in this april to file their annual return and other pending forms within 30/09/2019. i believe the MCA will take strict action against them after the expiration of the above cited time.

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