A Pvt Ltd Company didn't prepared BS for three years

CA Arunkumar (Chartered Accountant) (26 Points)

09 October 2009  


One of my friend company got registered in jan 20, 2006 but so far they didn't even prepared BS from the begining. Can he prepare the first BS till March 2007 and file with ROC. What about AGM etc. can he conduct the FAGM in the year 2009. What are the penalties he is going to face. The company doesn't do any transaction till now.