14 November 2011
While referring Corporate Laws during my studies I prepare following case. I need your some inputs, please help me..
A private limited company is in the 'Dormant' Status at the MCA portal.
It had not filed any annual filing documents for last 21 years.
It had paid up capital of Rs.2000/- only now. Also directors of the company had changed for last 5 years but no filing done to that effect.
Now the questions are :
1. Can company increase its paid up capital now? Will it avoide striking off action from ROC. (because it had not increased paid up capital withing 2 years of Companies Amendment act 2002.?
2. If answer to first question is negative then assuming that the company had adequate paid up capital, Can company get active status by filing form 61 and then annual documents for last 5 years only??
3. Whether this matter will go to CLB for any procedure/approval??
4. Whether directors would be liable for any action from CLB/MCA??
5. Form 32 has not been filed for last 5 year. Will there be any CLB approval required or any CLB action get attracted if filing done now??
Hoping for an early reply.
Thanking you in advance
Nilay G. Popat CA Final Student M. +91 94263 43263
16 November 2011
Dear Take one by one 1- Paid up share capital is raised only for transformation of status of company like pvt ltd into ltd company 2- Yes company raised share capital any time and after that information must be given to ROC 3- I think if company is raised its paid up share capital up to 5.00.000 or more after that company is know as limited company 4- Or either increase its member (seven of more ) 5- Intimation must be given regional/local ROC on appropriate form according to company (central government) general rules and forms act 6- U/S 560 of company act -1956 ROC have power if any company defunction or not fill return which is statutory according to act ,then they struck off name of the company after full fill all legal requirement 7- Completely liability fall on the director shoulder . Directors is labial for any statutory irregularity .
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