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

Pvt ltd 961 views 3 replies

CA Arunkumar

Chartered Accountant

26 Points Joined September 2008

Hi,

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.

Thx

Replies (3)

Guest

Don't state anywhere in the Filling of Forms that company has not prepared the balance sheet.

First of all create the Dummy Records or commonly referred to as Back Date Updation of Books.

Prepare Minutes of Board & General Meeting.

Prepare the Balance sheet.

File with the ROC.

However, The Company has to pay the penalty for late filling.

Dont worry about shareholders, Because those who are not woke up since last 3 years. They will not object on your this move.

If ROC ask for the reason than state that, Directors do not have the Digital Signature or their DSC was expired. And Add that as the company was new it was not able to bear the Additional Expense for DSC and Form Filling fees.

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Umesh V Naig

Statutory Analyst

452 Points Joined November 2008

The reason behing non filing of ROC records is negligence. But what about IT , if not filed , if there is any accumulated loss the same will be lapsed.

One way to regularise is to file belated with reason beyond control.

Ratti Wahal

Company Secretary

139 Points Joined July 2009

Dear Mr. Arun,

You are requested to kindly check the status of the company in the Roc records. As per my knowledge the Rocs were in a process of issuing Notices to all the companies (Public Limited and Private Limited Both) for Non-Compliance under Section 159, 166, 210 and related one. If the concerned Company has not responded after receiving due notices from the RoC, they may have (as per Section 560 of the Companies Act, 1956-suo moto) striked off the name of the Company from their records.

i will advise first to check the status and then proceed with other related jobs.

Regards,

Ratti Wahal, ACS

Assistant Manager

Kapgrow Corporate Advisory Services Private Limtied

E-173, Kalkaji, New Delhi-110019

Contact No.(s): 011-40553774, 9310270885

e-mail: ratti.wahal @ kapgrow.com