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Agm not held by pvt. ltd.

439 views 3 replies

Dinesh

student

146 Points Posted on 23 February 2016

Dear Professionals,

A Private limited company where there are only 2 directors and no any other stakeholders are interested in company had not conducted AGM since last 2 years due to some unavoidable circumstances. As per companies act 2013 this is compounding offense and penalty is 2500 per day and 50000 per officer.So my question is since public is not interested in the company whether still directors are liable for above penalty.is there any provision of waive off of penalty under CA act 1956 or 2013.if yes what is the procedure for the same.

Replies (3)

Gurprit

Company Secretary

44 Points Posted on 23 February 2016

file Form 23AC, ACA and 20B with late fee.

Dinesh

student

146 Points Posted on 24 February 2016

But What about penalty for not conducting of AGM on time.I forgot to tell one thing that we cannot show the back dated AGM because auditor so appointed for that Financial year is died,

ACS Parul Rawat

Entrepreneur | Corporate Law Advisor | L

218 Points Posted on 24 February 2016

@ Dinesh U have to do annual filings from back date in any case. If the Auditor is dead u can file the documents with his PAN details and other documents and later on show change in auditor in next AGM. I hope u mst be having B/s and other financial Statements. Please note before 1/04/2014 u hv to file 23AC, 23ACA and 20B and after that AOC 4 and MGT 7 with late fees.

Regarding the Penalty, it will be levied only if the case is caught nt right nw, so u shud complete the compliance at ur end.