Compliance with filing of Form 66.
This query is : Resolved
Guest
Guest
(Querist)
16 November 2009
ABC Private Limited – Paid up capital (PUC) :
First Year 31.03.07 – Rs.15,192,380/- (No Form 66 filed by the company).
(Form 23AC, 23ACA & 20B filed by the company).
Second Year 31.03.08 – Rs.35,192,380/- (No Company Secretary was appointed).
(Form 23AC, 23ACA & 20B filed by the company).
Third Year 31.03.09 – Rs.40,381,380/-. (AS PUC IS LESS THAN RS.5 CRORES, COMPANY SECRETARY IS NOT REQUIRED).
(Now, Company is to file the necessary annual filing forms including form 66 for 3rd year)
Please see the above and give your views.
1. Whether the company shall just file Form 66 for 31.03.09 and proceed with Form 23AC & Form 23ACA, Form 20B.
Or
2. Whether the company shall file Form 66 from the first year onwards i.e. 31.03.07, for 31.03.08 & 31.03.09 (and proceed with Form 23AC & Form 23ACA, Form 20B for 3rd year only).
Experts’ views are highly expected on the matter.
First Year 31.03.07 – Rs.15,192,380/- (No Form 66 filed by the company).
(Form 23AC, 23ACA & 20B filed by the company).
Second Year 31.03.08 – Rs.35,192,380/- (No Company Secretary was appointed).
(Form 23AC, 23ACA & 20B filed by the company).
Third Year 31.03.09 – Rs.40,381,380/-. (AS PUC IS LESS THAN RS.5 CRORES, COMPANY SECRETARY IS NOT REQUIRED).
(Now, Company is to file the necessary annual filing forms including form 66 for 3rd year)
Please see the above and give your views.
1. Whether the company shall just file Form 66 for 31.03.09 and proceed with Form 23AC & Form 23ACA, Form 20B.
Or
2. Whether the company shall file Form 66 from the first year onwards i.e. 31.03.07, for 31.03.08 & 31.03.09 (and proceed with Form 23AC & Form 23ACA, Form 20B for 3rd year only).
Experts’ views are highly expected on the matter.
16 November 2009
Sir
My understanding of the issue is as follows.
1) 31-3-2007 -- To obtain compliance certificate. To file 66.
2) 31-03-2008 -- No compliance certificate,because company has to employ a whole time company secretary but failed. Consequences to suffer.
3) 31-3-2009 -- As in 1) above and to file 20B,23AC and 23ACA.
N.B :- Sectopn 383 A says compliance certificate is required to be attached to the Board's report made under section 217 of the act.
To conclude, your first option is ruled out.
Second option is suggested with slight modifications as in above paras.
My understanding of the issue is as follows.
1) 31-3-2007 -- To obtain compliance certificate. To file 66.
2) 31-03-2008 -- No compliance certificate,because company has to employ a whole time company secretary but failed. Consequences to suffer.
3) 31-3-2009 -- As in 1) above and to file 20B,23AC and 23ACA.
N.B :- Sectopn 383 A says compliance certificate is required to be attached to the Board's report made under section 217 of the act.
To conclude, your first option is ruled out.
Second option is suggested with slight modifications as in above paras.
17 November 2009
according to my understanding in all above cases your company PUC is more than 10 lac but less than 5 Cr. and in that case compliance certificate from PCS is required, no need to appoint company secretary in whole time employment.
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