Quick Summary
In a multi-city protest on Monday, a large number of company secretaries (CS) and chartered accountants (CAs) came together to seek extension of the deadline for annual filing due to glitches in the ministry of corporate affairs (MCA) portal. According to the Companies Act, firms are supposed to submit Form AOC 4 for filing of the balance sheet within 30 days of holding the annual general meeting (AGM). This deadline was over on October 29. The professionals sat outside registrar offices i
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FAQ :
CAs and CS are protesting due to significant glitches and errors on the Ministry of Corporate Affairs (MCA) portal, which are preventing them from meeting the annual filing deadline for Form AOC 4.
Firms are required to submit Form AOC 4 for filing the balance sheet within 30 days of holding their annual general meeting (AGM). The recent deadline for this was October 29.
Professionals are experiencing system errors, being logged out unexpectedly, issues with service registration numbers, internal server errors, and gateway timeouts while uploading forms.
There is concern that errors in filing due to the rush caused by portal glitches could lead to the application of Section 447 of the Companies Act, which deals with fraud.
Some professionals have stated that the MCA needs to acknowledge the problem before a solution can be found. A senior government official, however, claimed the portal was working daily with increased filings.
Since 2014, there has been an extension of the deadline for holding AGMs or an exemption of penalty for late submissions nearly every year, indicating a recurring need for flexibility.
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