My company in Durgapur has not filed its annual return for the last two years; what penalties apply and how can I regularise the filing?

Detailed Legal Analysis

If your company in Durgapur has not filed its annual return for the last two years, it is subject to penalties under the Companies Act, 2013, and you can regularise the filing by following certain steps.

According to Section 92 of the Companies Act, 2013, every company is required to file an annual return within 60 days from the date of the Annual General Meeting (AGM). Failure to do so can lead to the following penalties:

• The company may incur a fine of ₹50,000, which can increase to ₹1,000 for every day of continuing default, up to a maximum of ₹2,00,000 (Section 92(5)).
• The officers in default may also face a fine of ₹25,000, which can increase to ₹1,000 for every day of continuing default (Section 92(5)).

To regularise the filing of annual returns and bring your company into compliance, you can follow these steps:

• Prepare the Annual Return: Ensure that the annual return is accurately prepared, reflecting all required details such as shareholding patterns, changes in directors, and registered office address.
• Hold an AGM: If the AGMs for the past two years were not conducted, hold an AGM for each year to ratify the financial statements and approve the annual return.
• File the Annual Return: Use the prescribed forms (Form MGT-7) to file the annual returns for the respective years with the Registrar of Companies (ROC) online through the Ministry of Corporate Affairs (MCA) portal.
• Pay the Penalty Fees: Along with the annual returns, pay the applicable penalties as mentioned above. The penalties can be paid online through the MCA portal.
• Obtain a No Objection Certificate (NOC): If there are any pending penalties, consider obtaining an NOC from the ROC after regularisation.

Additionally, under Section 403 of the Companies Act, 2013, if the company is filing the annual return after the due date, the company may be required to pay additional fees as prescribed by the central government. It is advisable to consult a company secretary or legal professional to navigate the process efficiently and ensure compliance with all legal requirements.