MCA gives settlement opportunity to defaulting firms
Updated: Aug 13, 2014 01:03:43pm
New Delhi, Aug 13 (KNN) The Corporate Affairs Ministry has given one time opportunities to the companies which defaulted on filing their annual returns.
“Companies who have not filed their annual reports, financial statements and related documents due for filling on or before June 30, 2014 can file these documents before October 15, 2014…” said an official release.
According to the ministry, the defaulted companies can pay only 25 per cent of payable additional fee and enjoy immunity from prosecution.
It also amended Section 164 of the Companies Act which contained the provision related to disqualification for appointment of directors.
“Directors of the companies will also not be disqualified under section (164) 2 of the Companies Act, 2013” it said. (KNN/ST)
“Companies who have not filed their annual reports, financial statements and related documents due for filling on or before June 30, 2014 can file these documents before October 15, 2014…” said an official release.
According to the ministry, the defaulted companies can pay only 25 per cent of payable additional fee and enjoy immunity from prosecution.
It also amended Section 164 of the Companies Act which contained the provision related to disqualification for appointment of directors.
“Directors of the companies will also not be disqualified under section (164) 2 of the Companies Act, 2013” it said. (KNN/ST)
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