Agm, 23ac and aca

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Querist : Anonymous

Querist : Anonymous (Querist)

12 November 2013 DEar All,

a company incorporate on 30.06.2011, but till date no agm or any action taken by the company. can anybody tell me that what should be the compliance need to follow by the company and what is total amount of penulty for the company....

pls help me in solve this

Nikhil Kaushik

Nikhil Kaushik (Expert)
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12 November 2013 arrange for the back dating of AGM records. First AGM can be held upto 30 December 2012. For filing the form, penalty of 9 times of the fee shall be charged. The fee for 23AC is Rs 300, so you will gave to pay Rs 2700 as penalty.

Ajay Mishra

Ajay Mishra (Expert)
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12 November 2013 Date of Incorporation is 30.06.2011

Event: (Period from 30.06.2011 to 31.03.2012)

1. First Board Meeting with in 30.07.2011 for approving first agenda items
2. Appointment of Auditor, Fixing Financial year, issuing shares certificates to first subscribers;
3. File Form-23B for appointment of First Auditor for the fist financial year start from 23.05.2011 to 31.03.2012.
4. Hold first AGM till 31.12.2012
5. File Form-23AC & ACA within 30 days from the date of first AGM with additional fee.
6. File again Form-23B for the next financial year 2012-13 with additional fee.
7. File Form-20B with details of shareholders from date of incorporation till date of AGM.
Period from 01.04.2012 to 31.03.2013:

1. Call a Board meeting for adoptions of Balance sheet & profit and loss account for the FY 2012-13
2. Hold first AGM till 30.09.2013
3. File Form-23AC & ACA within 30 days from the date of AGM with additional fee.
4. File again Form-23B for the next financial year 2013-14 with additional fee.
5. File Form-20B with details of shareholders from date of last AGM till date of AGM.
Please ensure that you are holding board meeting in per quarter from the date of incorporation to till date.

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Querist : Anonymous

Querist : Anonymous (Querist)

12 November 2013 it means the audit report of back dated is viable if i today file 23 AC and ACA???

Querist : Anonymous

Querist : Anonymous (Querist)

12 November 2013 the company has finalise the audit report on 26.09.2012, but 23 AC and ACA not filed with ROC, what is the consequences on the chartered for non filling on time and on the company too...

Ajay Mishra

Ajay Mishra (Expert)
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12 November 2013 The auditor will not be liable.

Responsibility to ensure compliance with section 210 and penalty for non-compliance:

Section 210(5) of the Act, provides that if any person, being a director of a company, fails to take all reasonable steps to comply with the provisions of this section, he shall, in respect of each offence, be
punishable with imprisonment for a term which may extend to six months, or with fine which may extend to ten thousand rupees, or with both. Provided that in any proceedings against a person as aforesaid, it shall be a defence to prove that a competent and reliable person was charged with the duty of seeing that the provisions of this section were complied with and was in a position to discharge that duty. Further provided that no person shall be sentenced to imprisonment for such offence unless it was committed willfully.

Ajay Mishra

Ajay Mishra (Expert)
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12 November 2013 The Company will file Form-23AC & ACA with additional fee which will be 9 times of normal fee.

Querist : Anonymous

Querist : Anonymous (Querist)

12 November 2013 okk.. thanx dear, but 9 times fees is acceptable, is this penal provision is levied in this case???

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Ajay Mishra

Ajay Mishra (Expert)
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12 November 2013 Generally not.

Querist : Anonymous

Querist : Anonymous (Querist)