Condonation of delay

This query is : Resolved

Manoj Prasath (Querist)
Follow

27 November 2015 The company to be filed with necessary application for condonation of delay before the appropriate authority (RD(SR), Chennai) and to be resubmitted alongwith INC.28.

Please can someone help me out with the Procedures for Condonation of Delay

Thanks in Advance

Manoj Prasath

Manoj Prasath (Querist)
Follow

02 December 2015 Query is still Open. Please help me out

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
Follow

20 July 2024 Certainly! Condonation of delay is a process through which a company can seek permission from the appropriate authority to condone the delay in filing certain documents or forms required under the Companies Act, 2013. Here’s a step-by-step guide on the procedures for condonation of delay:

### Procedures for Condonation of Delay

#### 1. Identify the Applicable Form or Document

Determine which form or document requires condonation of delay. This could include forms like Annual Returns (Form MGT-7), Financial Statements (Form AOC-4), or other specific forms as required by the Registrar of Companies (ROC).

#### 2. Review the Applicable Law

Understand the relevant sections of the Companies Act, 2013, and the rules prescribed thereunder which allow for condonation of delay. Typically, this would be under Section 460 of the Companies Act, 2013, and relevant rules.

#### 3. Gather Necessary Information

Collect all relevant information and documents related to the delay, including:
- Details of the original due date for filing.
- Reasons for the delay (e.g., administrative oversight, delay in receiving necessary documents, etc.).
- Any supporting documents that substantiate the reasons for the delay.

#### 4. Draft the Application for Condonation of Delay

Prepare a formal application addressing the Registrar of Companies (ROC) or the Regional Director (RD), as applicable. The application should include:
- Details of the company (name, CIN, registered address).
- Details of the specific form or document for which delay is sought to be condoned (mention the form number and the financial year).
- Reasons for the delay in filing.
- Steps taken to rectify the delay and ensure compliance in the future.
- Any other relevant information or documents supporting the condonation request.

#### 5. Prepare INC-28 Form

Along with the application for condonation of delay, prepare Form INC-28 if required. INC-28 is used for filing applications with the Registrar for obtaining directions of the Central Government under various provisions of the Companies Act, 2013.

#### 6. Submission of Application

Submit the application for condonation of delay along with Form INC-28 (if applicable) to the appropriate authority. Ensure that all required documents and fees are enclosed with the application.

#### 7. Follow-Up and Compliance

After submission, regularly follow up with the ROC or RD for any updates or additional information required. Once the condonation is granted, ensure timely compliance with all future filing requirements to avoid similar delays.

#### 8. Decision by the Authorities

The Registrar of Companies or the Regional Director will review the application and supporting documents. Based on the merits of the case and the reasons provided, they will decide whether to grant condonation of delay.

#### 9. Obtain Approval

If the application is approved, the ROC or RD will issue an approval letter or order granting condonation of delay. Keep this document safely for future reference.

#### 10. Compliance with Directions

Upon receiving approval, ensure compliance with any directions or conditions mentioned in the approval letter or order. Complete any additional filings or actions as required.

### Additional Tips:

- **Accuracy and Completeness:** Ensure all details in the application and supporting documents are accurate and complete.
- **Timely Submission:** Submit the application well in advance to allow sufficient time for processing.
- **Professional Assistance:** Consider seeking professional assistance from a company secretary or legal expert to ensure compliance with procedural requirements.

By following these procedures diligently and providing a clear justification for the delay, you enhance the chances of obtaining condonation of delay from the authorities effectively.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now