My company in Faridabad 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 Faridabad has not filed its annual return for the last two years, it may face penalties under the Companies Act, 2013. To regularise the filing, you need to take specific steps to ensure compliance with the law.

According to Section 92(5) of the Companies Act, 2013, every company is required to file its annual return within 60 days from the date of the Annual General Meeting (AGM). Failure to do so can result in penalties as follows:

• For companies: A fine of INR 50,000, which may extend to INR 5,00,000.
• For every officer of the company who is in default: A fine of INR 50,000, which may extend to INR 1,00,000, along with a daily fine of INR 1,000 for continuing default.

To regularise the filing of your annual returns, follow these steps:

• Gather Required Documents: Collect necessary documents such as financial statements, minutes of the AGM, and details of shareholders.
• Prepare Annual Return: Draft the annual return as per the format specified in the Companies (Management and Administration) Rules, 2014.
• File with Registrar of Companies (RoC): Submit the annual return using the prescribed form (Form MGT-7) on the Ministry of Corporate Affairs (MCA) portal.
• Pay Penalties: Be prepared to pay any applicable penalties along with the filing fee as mandated under the Companies (Registration Offices and Fees) Rules, 2014.
• File Additional Returns (if necessary): If your company is also in default of filing financial statements, ensure to file Form AOC-4 along with the annual return.
• Seek Professional Assistance: Consider hiring a company secretary or legal professional to assist in the filing process to ensure compliance and avoid further penalties.

In cases of delayed filing, you may also apply for a condonation of delay under Section 460 of the Companies Act, 2013, which may help reduce penalties if justified. Regularising your filings is crucial to maintaining good standing and avoiding future legal complications.