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

According to Section 92 of the Companies Act, 2013, every company is required to file its annual return with the Registrar of Companies (RoC). Failure to do so can result in penalties as follows:

• The company can incur a fine which may extend up to ₹1 lakh.
• Additionally, a fine of ₹5,000 per day can be imposed for continued default, subject to a maximum of ₹2 crore.
• Every officer of the company who is in default may also be liable to a fine of up to ₹25,000, along with a continuing fine of ₹1,000 for each day of default.

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

• Gather Required Documents: Collect all necessary documents such as the company’s financial statements, minutes of board meetings, and any other relevant information required for the annual return.
• Prepare the Annual Return: Complete the annual return in the prescribed format (Form MGT-7) as per the Companies (Management and Administration) Rules, 2014. Ensure that all information is accurate and in compliance with the required disclosures.
• File with the Registrar: Submit the annual return online through the Ministry of Corporate Affairs (MCA) portal. Ensure you file the return along with the necessary filing fees and any applicable late fees due to the delay.
• Pay Penalties: Be prepared to pay any penalties for late filing. You can calculate the late fees based on the period of delay as per the Companies (Registration Offices and Fees) Rules, 2014.
• Obtain Compliance Certificate: After successful filing, ensure you obtain an acknowledgment or compliance certificate from the RoC, confirming that your filings are up to date.

If the delay in filing has been significant, it may be advisable to consult with a legal expert or company secretary to navigate the process effectively and mitigate any further risks associated with non-compliance.