My company in Mysuru 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 Mysuru 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 comply with the provisions of the Act and pay the necessary fees and penalties.

According to the Companies Act, 2013:

• The annual return must be filed as per Section 92 within 60 days from the date of the Annual General Meeting (AGM).
• Failure to file the annual return attracts penalties under Section 92(5), which states that the company shall be liable to a penalty of Rs. 50,000 and a further penalty of Rs. 1,000 for each day during which the default continues.
• Additionally, the directors of the company may also be liable to a penalty of Rs. 25,000 and a further penalty of Rs. 500 for each day during which the default continues, as per Section 92(6).

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

• Prepare the Annual Return: Ensure that the annual return is prepared in compliance with the provisions of Section 92, including details of shareholders, directors, and other necessary disclosures.
• File with the Registrar of Companies (RoC): Access the Ministry of Corporate Affairs (MCA) portal and file the overdue annual return using the prescribed e-forms (e.g., Form MGT-7).
• Pay Penalties: Calculate and pay the penalties due for the delay in filing. The penalties can be paid through the MCA portal while filing the annual return.
• Obtain a Certificate of Filing: After successful submission, obtain the acknowledgment or certificate of filing from the RoC.
• Consider Additional Compliance: If the delay is significant, you may also want to consider passing necessary resolutions and ensuring compliance with any other statutory requirements.

It's advisable to consult a company secretary or legal professional specializing in corporate law to assist with the filing process and ensure compliance with all legal requirements under the Companies Act, 2013.