There are drastic changes in the provisions of filing of e-forms, documents with the Registrar after the introduction of the Companies Amendment Act, 2017 and the Companies Amendment Ordinance Act, 2018. Earlier, Section 403 of the Companies Act, 2013 prescribed 270 days timeline within which any document can be filled with the Registrar with additional fees. CAA, 2017 amended Section 403 and timeline of 270 days has been removed. Now, you have to file any statutory document within the time mentioned in relevant section for e.g AOC-4 within 30 days of AGM, MGT-7 within 60 days of AGM and like. After the expiry of the time given in relevant section you can file document with an additional fees as mentioned in Section 403 and also need to pay penalty if you receive show case notice from Registrar. 

Let us know understand timeline and consequences of non filing or late filing of any statutory document with the Registrar of Companies.

Filing of financial statements in AOC-4 (Section 137)

Every Company has to file a copy of the financial statements, including consolidated financial statement, if any, along with all the documents which are required to be attached to such financial statements, with the Registrar within 30 days of the date of AGM in form AO4-4 with normal fees.

What if Company fails to file AOC-4 within 30 days of AGM?

If a company fails to file the copy of the financial statements within 30 days from the date of AGM, Company can file AOC-4 after 30 days of AGM but after the payment of additional fees of Rs.100/- each per day.

What is the penalty amount of delay of filing AOC-4?

If you failed to file financial statement within 30 days, Company and Every Director are liable for following amount of Penalty:

The company shall be liable to a penalty of Rs. 1,000/- for every day during which the failure continues but which shall not be more than Rs. 10,00,000/- and

The managing director and the Chief Financial Officer of the company, if any, and, in the absence of the managing director and the Chief Financial Officer, any other director who is charged by the Board with the responsibility of complying with the provisions of this section, and, in the absence of any such director, all the directors of the company, shall be liable to a penalty of Rs. 1,00,000/- and in case of continuing failure, with further penalty of Rs. 1,000/- for each day after the first during which such failure continues, subject to a maximum of Rs.5,00,000/-.

Filing of Annual Return in MGT-7 [Section 92(4)]

Every company shall file with the Registrar a copy of the annual return in form MGT-7, within 60 days from the date of AGM with normal fees.

What if Company fails to file MGT-7 within 60 days of AGM?

If a company fails to file the copy of the Annual Return within 60 days from the date of AGM, Company can file MGT-7 after 60 days of AGM but after the payment of additional fees of Rs.100/- each per day.

What is the penalty amount of delay of filing MGT-7?

If a company fails to file the copy of the Annual Return within 60 days from the date of AGM, Company and Every Director are liable for following amount of Penalty:

Company and its every officer who is in default shall be liable to a penalty of Rs. 50,000/- and in case of continuing failure, with further penalty of Rs. 100/- for each day during which such failure continues, subject to a maximum of Rs. 5,00,000/-. 

If you receive notice from ROC and penalty is levied after due adjudication needs to paid otherwise additional fees paid is sufficient. 

In both of the above cases, penalty is required to be paid only if you receive notice from Registrar and it is levied after due adjudication otherwise additional fees @ Rs.100/- per day is sufficient. As of now, there is no process to apply Registrar to adjudicate penalty on non-compliance so we can assume that Company can’t approach Registrar to adjudicate the penalty on non-compliance.