My company in Silchar 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 Silchar 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 comply with the law.

Under Section 92 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 attracts penalties as follows:

• The company may face a penalty of ₹1 lakh, which may extend to ₹5 lakh for non-filing of the annual return (Section 92(5)).
• Every officer of the company who is in default may also be liable to a penalty of ₹25,000, which may extend to ₹1 lakh (Section 92(6)).

To regularize the filing of your company's annual return, you can follow these steps:

• Prepare the Necessary Documents: Gather all required documents such as the company's financial statements, details of directors, and shareholders.
• File Outstanding Returns: Use the Ministry of Corporate Affairs (MCA) portal to file the overdue annual returns. You may also need to file Form MGT-7 (Annual Return) for the respective years.
• Pay Late Fees: Be prepared to pay the late filing fees along with the penalties as prescribed under the Companies (Registration Offices and Fees) Rules, 2014. The late fee is ₹100 per day of delay (Rule 12(2)).
• Seek Professional Assistance: Consider consulting a company secretary or legal professional to ensure compliance with all regulatory requirements and to handle any complexities.
• Ensure Future Compliance: Establish a system for timely filing of annual returns in the future to avoid similar issues, including setting reminders for AGM and filing deadlines.

It is advisable to act promptly to avoid further penalties and legal complications. The longer the delay in filing, the higher the financial repercussions may be. Regularizing your filings not only helps in compliance but also enhances the company's credibility in the eyes of stakeholders.