WELCOME TO FUNDSCOOP ADVISORS

MANDATORY ANNUAL FILING FOR PRIVATE LIMITED COMPANIES UNDER COMPANIES ACT 2013

Every Private Limited Company is required to file following two forms compulsorily:

1. AOC-4
2. MGT-7

AOC-4 is required to be filed within 30 days from the end of Annual General Meeting (AGM). For the purpose of understanding here, the due date for conducting AGM is 30^th September of every year (31^st December for 1^st AGM). AOC-4 contains brief summary of the financial statements of the company viz Balance Sheet and Statement of Profit & Loss. The mandatory attachment to the form is Audited financial statements of the company.

MGT-7 is required to be filed within 60 days from the end of AGM. It contains the brief particulars of various meetings of Board and members held during the year along with details of shareholders. The mandatory attachment to the form is List of Shareholders of the company.

The government fees for above forms are very nominal(Rs. 200/300/400/500 per form) which depends on the authorised capital of the company (in case of companies having share capital) or Rs. 200/- (in case of companies not having share capital).

Failure to file the above forms within the stipulated time attracts late fee of Rs. 100/- per day for each form. Further failure to file the above forms for a consecutive period of 3 years makes the company inactive, eligible to get strike-off by MCA and the directors of the said company shall be disqualified for a period of 5 years.

Recently, Ministry of Finance has given a moratorium period of 6 months starting from 01^st April 2020 to 30^th September 2020. As per the said notification, there will be no late filing fee for any filing done in this period irrespective of its due date. By filing within this period, corporates can save a huge amount of late fees. Hence this is a great opportunity for those who have not done their filing till now.