Din defaults & normalization of the dormant company

This query is : Resolved

Rupesh Jaju (Querist)
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29 April 2012 I registered a company United Pacific Agro Pvt Ltd in ROC Mumbai in 2005. Company has two directors including myself. Since incorporation in 2005 we did not filed any return to IT nor to ROC.
We also never applied for any DIN.
We did some transaction through this company till February 2008 and since then no transaction has been done.

Present company status as shown on MCA website is "Dormant".

As company not did any transaction after Feb 2008, we did not operate company current bank account with State Bank of India & hence this account automatically got closed.

Now we re-decided to do transaction and decided to open new bank account with ICICI Bank. But when I filed for new current account with ICICI bank, authorities told me that it shows defaults on DIN and advised me to apply for DIN.

I have following questions:

1. As company status is dormant and did not file IT returns nor ROC returns previously so am I eligible to apply for DIN?

2. Can I normalize the Dormant status of the Company?

3. If I can normalize the company from Dormant company then what is the procedure for same.

4. What all documents do I need to provide and to which authorities for normalization of dormant status?

5. What should I do first? Shall I apply for DIN first or Shall I do the normalization of dormant status?

6. If in case I can get DIN prior to normalization of dormant status of the company then will bank allow me to open bank account before I normalize the dormant status of company?

7. Will we have to pay any fine to ROC or MCA or IT for not filing returns since 2006?

Please help ........its urgent.

Rupesh Jaju
rupeshjaju@gmail.com
9922904225

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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30 April 2012 1. Eligible to apply for DIN.
2. Yes.
3. Audit the accounts since incorporation. File e-form 61 with ROC Mumbai through MCA Portal. Then file all pending annual returns and financial statements by using e-form 20B, e-form 23AC and e-form 23ACA.
4.As in 3 above.
5. DIN first.
6. Yes current account can be opened but hesitation can be expected.
7.Additional filing fee,ranging upto 9 times of normal filing fee has to be paid to ROC. Penalty u/s 271F of the Income tax Act,1961 can be imposed for all the years.

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