A private limited company, incorporated in year 1996, has 8 shareholders and 3 directors. The company has business only in year 1996-97 and thereafter there is no any transaction.
The company file its return of income in income tax and file accounts in ROC for that year.
In 1998, the two directors of the company are died and their respective shareholdings are transfered to their Legal Reprsentatives.
The remaining director of the company doesn't sent any intimation to ROC, and doesn't file thereafter Annual Accounts and Return to ROC and doesn't file Return of Income in Income Tax, AS THERE IS NO BUSINESS IN COMAPNY SINCE 1998. The company doesn't hold AGM thereafter.
Moreover the director doesn't have DIN.
Now the sahreholders of the company want to regularize the comapny and want to start the business and appoint a new director.
The status of the company is active. The company also issue additional shares and doesn't intimate ROC.
Please state your views for how the shareholders can regularize the company and which documents needs to be file and for what number of years.
Please let me know what amount of penalty company have to pay for regularization.
24 December 2010
Check company's master data. A) If the status shows "active" pl do the following. 1. Obtain DIN for the director who is alive. File DIN-3 to ROC after obtaining DIN -2 from him. 2. Appoint an additional director immediately on the death of the two directors. Obtain DIN for the additional director and comply DIN-2 and DIN -3 formalities. 3. File e-form 32 for the expired as well as additional directors. 4. Prepare accounts from 1997-98 to 2009-10 and get it audited. 5. File all the pending returns before ROC from 1997-98 onwards. B) On the other hand if the status in master data shows as "strike off" , petition for reviving the company cannot be moved before the High Court under section 560(6) of the Companies Act,1956 since the company has only one director.
24 December 2010
Voluntary compliance will not lead to penalty. Additional filing fee under section 611(2), apart from normal fee, is mandatory. Amount of normal /additional fee is related to authorized capital of the company and can be calculated using http://www.mca.gov.in/DCAPortalWeb/dca/enquireFeeActionWithoutLogin.do?method=NoneFormFeeSelection&sessioncheck=yes
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