Had a proprietary that was closed in 2010 and formed a Pvt Ltd in 2010 along with Partner A then in 2013 Partner A resigned and Partner B joined. Due to serious financial issues caused due to non payments and low business we had problems always to file.2010, 2011 & 2012 were filed late and together in 2012. In 2013 had saved some money and upon approaching our CA for filing and due to certain issues got delayed and the money was also exhausted. Tried all possible means to revive the business to-date but failed miserably and have run financially broke, with no money for anything. Of late have received notices from ROC u/s 92 AND 96 READ WITH SECTION 403 & 129 AND 137 READ WITH SECTION 403! 1. Is there any possibility of being exempted or buying time until I manage to organise some funds for the same? 2. Need to ensure both Partner A and Partner B have no problems. Can someone advice/help? Will sincerely appreciate.. Also please note: 2010 total turnover was about Rs.12-13Lacks following years have never crossed 9Lacks, with some serious huge losses. All the money was personal savings.
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