Approval of accounts

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09 September 2014 WHAT IF RESOLUTION FOR APPROVAL OF ACCOUNTS IS NOT FILED WITH ROC ???CONSEQUENCES??PLEASE REPLY

CS Mitesh Mehta

CS Mitesh Mehta (Expert)
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09 September 2014 Section 117(2)

If a company fails to file the resolution or the agreement under before the expiry of the period specified under section 403 with additional fee, the company shall be punishable with fine which shall not be less than Rs. 5 lakh rupees but which may extend to Rs. 25 Lakhs rupees and every officer of the company who is in default, including liquidator of the company, if any, shall be punishable with fine which shall not be less than Rs. 1 Lakh but which may extend to Rs. 5 lakh rupees.