MCA not to take any form on record unless BS, P&L & Annual Returns are filed

Gen. Circular No. 33/2011 dated 1.06.2011; GOI; MCA

All the Regional Directors; All the Registrar of Companies/ Official Liquidators; The Stakeholders

Sub:- Compliance of provisions of the Companies Act 1956 and Rules made there under.

Section 610 of the Companies Act, 1956 confers a right to any person to inspect any document kept with the Registrar of Companies under the Act. The Balace Sheet and Profit & Loss Accounts and Annual Return of any company are the basic documents which are required to be filled with the Registrar of Companies annually as required under section 220 and 159 of the Companies Act, 1956.

It has been observed that some companies are filing only their event based information with the Registrar of Companies without filing their upto date Balance Sheetand Profit & Loss Accounts and Annual Return. Therefore, such companies are depriving the right of the public to inspect these basic documents.

In order to ensure corporate governance and proper compliances of the provisions of Companies Act, 1956, it has been decided that no request, whether oral, in writing or through e- forms, for recording any event based information/ changes shall be accepted by the Registrar of Companies from such defaulting companies, unless they file their updated Balance Sheet and Profit & Loss  Accounts and Annual Return with the Registrar of Companies.

However, in the interest of other stakeholders following event based information/ changes will continue to be accepted by the Registrar of Companies from such defaulting companies:-

Form 32: Particulars of appointment of managing director, directors, manager and secretary and the changes among them or consent of candidate to act as a managing directoror director or manager or secretary of the companyand/ or undertaking to take any pay for qualification shares.

Form 20B: Form for filing annual return by a company having a share capital with the Registrar.

Form 21A: Particulars of annual return for the company not having share capital.

Form DIN-3 : Intimation of Director Identification Number by the company to the Registrar.

Form 21: Notice of the court or the company law board order.

Form23AC & 23ACA: Form for filing balance sheet and Profit & Loss accounts and other documents with the Registrar.

Form 1 INV: Forms for deposit of money into IEPF.

Form 23B: Information by Auditor to Registrar.

Form 66: Form for submission of compliance certificate with the Registrar.

Forms related to Cost Audit Branch; Investor Compliant Form

2.          It may be further noted that:

a) No e-filing shall be accepted by the Registrar of Companies from Directors of these defaulting companies for any other company also.

b) Company Secretaries and Auditors of these companies will also not be allowed to sign and certify the filing with MCA-21 system, in respect of these defaulting Companies, till the defect is rectified.

c) Members of ICAI, ICSI and ICWAI must not issue any certificates to such defaulting companies other than above mentioned e-forms.

d) Action will be taken against the defaulting companies and their Directors/ officers in default in co-ordination with RBI and SEBI.

e) This circular will not apply to such companies where the Balance Sheet and Annual Return could not be filed due to order of court / company law board or any other competent authority and concerned ROC has marked this company as having management dispute.

f) This circular shall be effective from 3rd July, 2011.

J. N. Tikku

Joint Director

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3 responses to “MCA not to take any form on record unless BS, P&L & Annual Returns are filed”

  1. Viral Ranpura says:

    As the MCA issued notification that ROC Shall not accept any Eforms if the Company has made default in filing its Annual Reports, Annual Accounts and Returns..
    It is definitely good initiative.. But one more thing I want to highlight… 
    How about Form 8. Bcoz the Bank has to compulsorily get the charge registered with ROC.
     So what be the remedies to the banks in such situation? 

  2. Sumit Pahwa says:

    Viral, Its a good observation…while the exact procedure of how it is implemented remains to be seen w.e.f. 3rd July, 2011, but one possibility which cannot be ruled out is that Form 8 is filed with the MCA but the same is not approved / registered; in such scenario, the onus of getting it approved will also remain with the Company and Banks may insist on the Registration certificates.

  3. Hi admin, You always provide valuable information.

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