My company in Gandhinagar 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 Gandhinagar 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 follow specific steps outlined in the Act.

Under Section 92 of the Companies Act, 2013, every company is required to file its annual return with the Registrar of Companies (RoC). Failure to comply with this requirement can lead to various penalties:

• The company may incur a penalty of INR 50,000 for the first default.
• For continued default, an additional penalty of INR 1,000 per day may apply, subject to a maximum of INR 2,00,000.
• Every officer of the company who is in default may also face a penalty of INR 5,000 for the first default and INR 500 per day for continued default, subject to a maximum of INR 1,00,000.

To regularise the filing of annual returns, you can take the following steps:

• Prepare Annual Returns: Gather all necessary financial documents and prepare the annual return for the two years you missed. Ensure compliance with the provisions of Section 92 and Rule 11 of the Companies (Management and Administration) Rules, 2014.
• File with RoC: Submit the annual return along with the required financial statements to the Registrar of Companies. This can be done through the Ministry of Corporate Affairs (MCA) portal.
• Pay Penalties: Be prepared to pay any applicable penalties at the time of filing. The penalties can be calculated based on the days of default.
• Form MGT-7: Ensure that the annual return is filed in Form MGT-7, which includes details such as shareholding patterns, directors’ report, and other disclosures.
• Additional Compliance: Consider filing Form GNL-2 for the late filing of annual returns, which can help mitigate some penalties. This form is to be submitted for applications for condonation of delay.

It is advisable to consult a company secretary or legal advisor to ensure compliance and address any specific concerns related to your company’s situation. Regularisation of filings is crucial to avoid further legal complications and maintain the company’s status.