This is in regard to applicability of Section 403 of the Companies Act, 2013. Whether this provision is applicable with reagrds to ROC filing for Financial year 2013-14 or it is applicable for financial year 2014-15? If a Company has defaulted in Filing of ADT 1 for financial year-14-15 and a period of 300 days has passed , will the matter go for compounding as per section 403??
25 July 2015
If the form was not filed for Auditor appointment for FY 2014-15, then new act should be applied and hence, Section 403 will be applicable in this case.
But suppose, if appointment is with regard to FY 2013-14, then you will have to file Form 23B (which is still available for filing) and 403 will not be applicable in this case.
If you want to verify whether 403 is applicable to you or not, try uploading ADT-1, if 403 is applicable, it won't be uploaded.
26 July 2015
1. Form 23B may be filed for FY 2013-14 as rightly said by Shah Ji.
2. For FY 2014-15 ,ADT-1 has to be filed. It can be uploaded beyond 270 days since it is an STP form and does not contain column to fill in SRN of form RD-1. But ROC can issue SCN for not opting compounding before filing ADT-1.
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