Annual returns, financial statements, event-based filings and charge registrations must be filed with the Registrar of Companies within prescribed timelines. Default attracts penalties, director disqualification and company strike-off.
The Registrar of Companies under the Companies Act 2013 is the principal corporate registry. Every company must file annual returns (Section 92, Form MGT-7/MGT-7A), financial statements (Section 137, Form AOC-4), event-based filings (change of directors, registered office, share allotment, charge creation and modification) and other documents within prescribed timelines. The MCA21 portal processes these filings electronically.
The consequences of non-compliance are severe and escalating: additional filing fees for delayed filings, monetary penalties on the company and officers in default, director disqualification under Section 164(2) for three consecutive years of default, and company strike-off under Section 248 for two consecutive years of default. AMLEGALS advises on compliance calendar management, overdue-filing regularisation, strike-off defence and compounding of offences.
Preparing and filing annual returns (MGT-7), financial statements (AOC-4) and board reports within statutory timelines.
Filing forms for allotment, charge creation/modification, change of directors, registered office and other event-based filings.
Regularising overdue filings through the CFSS/Condonation of Delay scheme and direct MCA applications.
Defending against company strike-off proceedings under Section 248 and filing applications for restoration under Section 252.
Applying for compounding of filing offences under Section 441 to avoid criminal prosecution.
Setting up compliance monitoring systems and calendars for recurring filing obligations.
Every company must file: (a) Annual Return in Form MGT-7 (or MGT-7A for OPCs and small companies) within 60 days of the AGM, (b) Financial Statements in Form AOC-4 within 30 days of the AGM, (c) Income Tax Return by the due date under the Income Tax Act, and (d) GST returns as applicable. Listed companies have additional filing requirements under SEBI LODR.
The Companies Act prescribes additional filing fees for delayed filings, calculated per form per day of delay. Officers in default (directors, company secretary, CFO) are also liable to a penalty. For continued default, the penalty can accumulate to substantial amounts. Beyond penalties, three consecutive years of default in filing financial statements or annual returns triggers director disqualification under Section 164(2).
Under Section 248, the ROC can remove the name of a company from the register if it has not filed annual returns or financial statements for two or more consecutive financial years, or if it has not been carrying on business for two years. The company is given an opportunity to show cause. Prevention requires filing all overdue returns before the strike-off notice is issued or demonstrating ongoing business activity.
Yes. Under Section 252, an aggrieved person can apply to the NCLT for restoration of a struck-off company within 20 years. The NCLT can direct restoration if it is satisfied that the strike-off was unjustified or that the company was carrying on business. All overdue filings, penalties and fees must typically be paid as a condition of restoration.
Section 441 permits compounding of offences punishable with fine only (not imprisonment) by the NCLT or the Regional Director, depending on the quantum. Compounding allows the company and officers in default to pay a compounding fee and close the prosecution without trial. It is available for filing defaults, governance defaults and other offences where the maximum punishment is a fine.
No. No engagement is treated as accepted until conflicts, scope and terms are confirmed in writing.
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