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Showing posts from October, 2016

Compounding of Non-Filing of AOC-4/ MGT-7

Compounding of Non-Filing of AOC-4/ MGT-7 BACKGROUND: As per Companies Act, 2013 every Company have to file e-form MGT-7 within 60 from the date of Annual General Meeting ‘AGM’ and AOC-4 required filing with ROC within 30 from the date of AGM.  Below we will discuss the consequences of non filing or delay in filing of e-form MGT-7 (Annual Return) and e-form AOC-4 (Filing of Financial statement). Situation: Many professional have raised question, what are the consequences if Company fail to file such forms AOC-4/ MGT-7 with in 30 or 60 days from the date of Annual General Meeting. Whether Company will be liable for penalty or Prosecution for non-filing of AOC-4 & MGT-7 within 30/60 days from the date of Annual General Meeting or Company can file it with late fees . Let’s first discuss the questions: Whether Company will be liable for penalty or Prosecution for non-filing of AOC-4 & MGT-7 withi

Simplified Proforma for Incorporating Company Electronically (SPICE)

Simplified Proforma for Incorporating Company Electronically ( SPICE ) INC-32 FEATURES New features/ Options of e-form INC-32 introduced by Ministry on 03.10.2016 itself (In pursuance of sections 4,7,12,152 and 153 of the Companies Act, 2013 read with rules made there under) Ministry of Corporate Affairs (‘MCA’) has come up with new rules for Incorporation of Company with simplified procedure. http://www.mca.gov.in/Ministry/pdf/CompaniesIncorporationFourthAmendmentRules_01102016.pdf An appreciable step is taken by Ministry of Corporate Affairs by introducing E-Form INC-32 under SPICE scheme vide MCA's notification dated 01/10/2016 notifying Companies(Incorporation) Fourth Amendment Rules, 2016. SPICE means Simplified Proforma for Incorporating Company Electronically.  Through this notification, MCA has notified simplified integrated process for incorporating a company in E-form INC-32 along with Memorandum of Association in E-form INC-33 and Article of Associa