My company in Tiruchirappalli 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 Tiruchirappalli has not filed its annual return for the last two years, it may face penalties under the Companies Act, 2013.

According to Section 92 of the Companies Act, 2013, 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). Failure to comply with this requirement can result in several penalties:

• The company may incur a penalty of ₹100 for each day of default (as per Section 92(5)).
• Every officer of the company who is in default may also be liable for a penalty of ₹1 lakh, which may extend to ₹5 lakh (under Section 92(5)).
• If the annual return is not filed within the stipulated timeframe, additional penalties might arise, particularly if the company is subjected to inspection or investigation.

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

• Prepare the Annual Return: Ensure that all necessary details are included in the annual return as required under Section 92, which includes information regarding the company's registered office, principal business activities, shareholding patterns, and details of directors and secretaries.
• File with the ROC: Submit the annual return using the prescribed form (Form MGT-7) through the Ministry of Corporate Affairs (MCA) portal. Make sure to attach all required documents, including the director's report.
• Pay the Penalty Fees: Calculate and pay the penalty for late filing, which is based on the duration of the delay. This can be done through the MCA portal while filing the forms.
• Obtain a Compliance Certificate: If your company is required to have a Company Secretary, they should provide a compliance certificate confirming that all filings have been made appropriately.
• Seek Professional Help: Consider engaging a company secretary or a legal advisor for assistance in preparing and filing the required documents to ensure compliance with all regulatory requirements.

By taking these steps, you can bring your company's filings up to date and mitigate further penalties. Additionally, regular compliance will help avoid complications in the future as stipulated under the Companies Act, 2013.