If Company fails to file e-form within 30 days + additional 270 days (total 300 days) then provisions of section- 403(2) will applicable. if a Company has passed resolution which was required to file with ROC in MGT-14, but failed to file e-form MGT-14 in this respect beyond 300 days, it needs to file application for condonation of delay with Central Government (MCA), so that the forms- CG-1 can be filed with Central Government.
Also in case of compounding of MGT-14 MCA will not allow us to file MGT-14 until unless we don’t mention the SRN of filing of order of compounding in MGT-14. Therefore, in this situation Company will first go for the compounding then will file MGT-14.