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PANKAJ KHURANA (PARTNER)     07 August 2010

FILING OF ANNUAL RETURN, BALANCE SHEET, ETC. BY COMPANIES

 

FILING OF ANNUAL RETURN, BALANCE SHEET, ETC. BY COMPANIES

 

Shri Salman Khurshid, Minister of Corporate Affairs, has said that under the Companies Act,1956, it is mandatory for all companies to submit annual return, balance-sheet, etc. to the Government. Giving this information in written reply to a question in the  Rajya Sabha, Shri Khurshid informed the House that during last 3 years (2006-07, 2007-08 and 2008-09) the number  of companies that have not filed their Balance Sheet is as follows:

·         2006-07: 2,19,952

·         2007-08: 2,55,587

·         2008-09 3,06,547

            As per this information the number of companies which have not filed their Annual Return for the last three years is as follows:

·         2006-07: 2,21,109

·         2007-08: 2,59,454

·         2008-09 3,08,472

            Shri Khurshid informed the Rajya Sabha that in case of default, the Registrar of Companies issues show cause notices and prosecutions are filed against such companies and their directors. – www.pib.com



 1 Replies

CS Ankur Srivastava

CS Ankur Srivastava (Company Secretary & Compliance Officer)     10 August 2010

Yes, Mr. Salman Khurshid is absolutely right, ROC issues notice to the companies and its directors who made default in filing balance sheed and annual return and innitiate procecution regarding the same. But if you analyse  the above data you will find that the number of dufaulting companies are ever increasing.

 

This is because of long and lazy process and no strict penalty. There should be strict penalty and companies act must have given teeth to handle all these circumstances.

 


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