ROC Revised return

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Querist : Anonymous

Querist : Anonymous (Querist)

05 January 2011
One of my client wants to revise its ROC Return.

Is it possible to revise the Annual Return.

Ram Avtar Singh

Ram Avtar Singh (Expert)
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05 January 2011 Yes, revised filing of Annual filing eForm can be done in respect of the Forms already filed but the fees for subsequent revised filing shall be charged, assuming it as a new filing.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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05 January 2011 Ram Ji

Request you to reconsider your observation in the light of the MCA's General Circular 5/2010 dated 22/11/2010.

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Ram Avtar Singh

Ram Avtar Singh (Expert)
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07 January 2011
Please consider as per circular

GENERAL CIRCULAR NO. 5/2010, DATED 22-11-2010

Your attention is drawn to the provisions of section 220 of the Companies Act, 1956 which provide for the manner in which annual accounts (viz., balance sheet and profit and loss account etc.,) are laid before annual general meeting for adoption by shareholders and filed with Registrar. This Ministry, vide General Circular Number 1/2003 (F. No. 17/75/2002) dated 13-1-2003 had directed the grounds and manner in which accounts can be re-opened/revised by companies and thereafter adopted by shareholders. A copy of such circular is attached.

It has now come to the notice of the Ministry that few companies have been filing their annual accounts under section 220 more than once resulting into filing/availability of more than one such accounts in the Registry for a particular financial year.

The matter has been examined in the Ministry in detail and it has been concluded that keeping in view the provisions of section 220 of the Act read with Ministry's General Circular 1/2003, a company cannot lay more than one set of annual accounts for a particular financial year unless it has reopened/revised such annual accounts after their adoption in the Annual General Meeting on the grounds specified in Ministry's circular Number 1/2003.

Accordingly, it is hereby directed that ROCs should keep a watch on such kinds of repeat filings of annual accounts and such accounts should not be accepted except in accordance with provisions of section 220 read with Ministry's General Circular 1/2003.