Defunct company not filing any roc/it returns

MCA 1493 views 2 replies

Pls advise what happens if a defunct company, which does not have any ledger accounts except capital/reserves/cash and bank, stops filing any returns with ROC and Income Tax.

 

A friend does not want to go through the process of winding up etc, and simply wants to forget it for good, just like many people do with bank accounts when they are tired of doing formalities for account closure and they simply withdraw available funds and then, discard the passbook and cheque, and deem for their own purposes, as if the account has been closed.

 

Will there be any penal consequences for the directors, whether now or anytime in future?

 

Pls advise.

Replies (2)

yes it is mandatory for defunct company to file return

and if doen file it penal provisions would be applicable till not filling of return..

Dear Anil Ji, rather than forgetting that the company is not working or doing any thing, it is better to strike it off under section 560 which is a legal and simplified procedure to stop or to remove the name of the company from the Register of Companies of the concerned office of Registrar. If you do not strike it off, you may get the notices in future that why the filing has not been done, where as on other hand, after striking off the company, there is no any chances of getting the noticies from the Regsitrar office.


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