06 September 2017
Hi, I am one of the director [we are 3 directors] of a small company registered in 2006, the company was operational and we filed IT till 2011. But since 2011, we did not have good transacations and could not file IT. SInce 2013 the company is almost has 0 transactons. We only had Foreign Inward receipts which is competely stopped since 2013. We however had some investment in mutual funds and equities done which we redeemed now wihich is arond 30Lack+
Now in our bank we have the money which is about 30L+ which belongs to only one director, now our CA said that the company status shows as strike off and he suggest us to withdraw money and just wait.
I just wanted to know if we can dissolve the company and pay a penalty for IT since 2011? If we do not anything will there be any legal case against directors? Can you please suggest me what should I do along with my CA?
07 September 2017
the company is already STRUCK off. So, you can start winding up transactions in the books of accounts. (One school of thought among CAs sincerely believe that Govt will not let such struck off companies go without any penalty.....one day or other, ROC may issue notices for non filing etc etc.....)
07 September 2017
So by declaring and paying penalty the company can be closed right? If penalty then how much it would be? Should I clear off the bank balance and then proceed for the closure by paying penalty or what?
When I ask our CA he said company is already striked off so just wait and see, how should I tell him that we are ready to pay penalty and finish it off?
07 September 2017
Where to pay penalty?...since your company is struck off.....you are not permitted to upload any information to ROC site. Your company is already closed by the Govt.....Now what you can do is close the books of accounts and distribute the dividend if any......I think your CA is also suggesting you on the similar lines.....is it?
CAclubindia
