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Roc annual returns filing of new pvt. co.

Dhananjay Reddy (Audit Manager) (194 Points)

19 May 2012

Dear Friends,

Pls clarrify me regarding the following,

A new private limited company was incorporated in dec 2011. And no transactions was done during the period ending 31.03.2012.

Even the subscribed shareholders had not paid intial subsrcibed capital to the company. ( I mean the company had not opened any bank account in the company name and had not collected the initial subsribed capital from the shareholders).

Now my questions is :

1) The shareholders have to compulsory pay the amount equal to subsribed capital ? Can they pay the amount either by cash or cheque ????

2) Since there is no transactions duriing 2011-12. Is the company has to compulsory file Annual Returns with ROC ???

Thanks in advance.

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8 Replies

Anupreksha Thote (CA) (285 Points)
Replied 19 May 2012

1. Shareholders can bring money in cash.There is no such restriction clause in Company Act.

Shareholders can bring minimum subscripttion amount of Rs. 1 lac in case of private companies within two years from commencement of the company as per Sec3(3) of Companies Act 1956.

2. Acc to me, Company has to compulsory file Annual Returns with ROC. But check for any concession for company for first year.

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sangram ghatge (company secretary in practice) (198 Points)
Replied 19 May 2012

1. the shareholders have to bring the amount compulsorily. they can bring in cash or by cheque. there is no fix period prescribed for bringing in the amount. preferably you should bring it before first year end.

2. you need to file balance sheet and annual return compulsorily even if there is no transaction.

for further details contact 9422622828.

vaibhav (CA & CS) (577 Points)
Replied 20 May 2012

hi dear, Pls note: 1) fy ended 11-12 when final acc will be made u have to show minimum paid up capital of rs 1 lakh and correspondence entry will be made in bank account. It means that money has to definatly deposit in bank account 2) you can not file aanual accounts with roc showing share application pending and refelecting nil in paid up capital.

Dhananjay Reddy (Audit Manager) (194 Points)
Replied 20 May 2012

dear friends from the above solutions i came to conclusion that: 1) annual returns is to be compulsorly filed for the first financial year. 2) intial subsribed capital has to be compulsorly be paid by the subsribers to MOA before first financial Y.E. But I didn't get clarity whether subscribed capital shld be paid in cash or bank ? Pls give your valuable solutions frndz...

ANAND S (student) (162 Points)
Replied 20 May 2012

for 1st year extra 3 month we may get for filling of roc but i think it is compulsary and capital may bring in cash also i don't thing so it is dennied by companies act

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Kamal Kant Sati (Looking for a Job) (42 Points)
Replied 21 May 2012

There is no restriction for the company to accept Share Application in Cash.

The company can accept Share Application Money in cash also.

Dhananjay Reddy (Audit Manager) (194 Points)
Replied 21 May 2012

Very much Thanks Frnds, for Clarifying the doubt......

RAJAN SHUKLA (Partner) (23 Points)
Replied 25 November 2012

Dear the basic thing is that the first financial year of the company can exceed more than one year so it is not necessary the u file annual return instead of this u can file the return for 15 months in next year but remember no such provision in income tax so u must file nil return for these 3 month.