My company in Moradabad 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 Moradabad has not filed its annual return for the last two years, it is subject to penalties under the Companies Act, 2013, and you can regularize the filing by following specific steps.

Under the Companies Act, 2013:

• Section 92: Every company is required to file its annual return with the Registrar of Companies (RoC) within 60 days from the date of the Annual General Meeting (AGM).
• Penalties for non-filing:
  • If the annual return is not filed, the company and every officer of the company who is in default are liable to a penalty of ₹1 lakh, which may extend to ₹5 lakhs.
  • Additionally, there is a daily fine of ₹100 for each day of continuing default, up to a maximum of ₹2,00,000.

To regularize the filing of annual returns, you can follow these steps:

• Gather Necessary Documents:
  • Financial statements for the relevant years.
  • Minutes of the AGM for the years in which the returns were not filed.
  • Other compliance documents as required by the RoC.
• File the Annual Returns:
  • Prepare the annual return in Form MGT-7 and ensure all details are accurate.
  • File the financial statements in Form AOC-4 within the stipulated time frame post-AGM.
• File for Condonation of Delay (if applicable):
  • Submit an application to the RoC for condonation of delay under Section 460 of the Companies Act, 2013.
  • Provide a reasonable explanation for the delay along with supporting documents.
• Pay the Penalty:
  • Calculate and pay the applicable penalties through the prescribed forms on the Ministry of Corporate Affairs (MCA) portal.

It is advisable to consult a company secretary or a legal professional to ensure compliance with all legal requirements and to minimize penalties and liabilities.