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Annual Return under Companies Act, 2013

Written By Admin on Sunday, 6 October 2013 | Sunday, October 06, 2013


- Author by Cs Sanka Indrani and CS Achuthan R













Sr No. Companies Act 1956 Companies Act 2013
1Annual return to be filed by Companies having share capital (Sec 159) and Annual return to be filed by Companies not having share capital (Sec 160) Both the Section 159 and 160 of the Companies Act 1956 are clubbed together under Section 92 of the Companies Act 2013
2NAAn annual report in such a manner to form part of the Board Report.
3Signing: (Sec 161)Signing: [Sec 92 (1)(k)]
The annual return is to be signed by The annual return is to be signed by
- a director and by the manager or secretary of the company, or - a director and the company secretary, or
- where there is no manager or secretary, by two directors of the company, one of whom shall be the managing director where there is one- where there is no company secretary, by a company secretary in practice
Provided that where the annual return is filed by a company whose shares are listed on a recognised stock exchange, the copy of such annual return shall also be signed by a secretary in whole-time practice. Provided that in relation to One Person Company and small company, the annual return shall be signed by
- the company secretary, or
- where there is no company secretary, by the director of the company.
Provided that where the annual return is filed by a company whose shares are listed on a recognised stock exchange, the copy of such annual return shall also be signed by a secretary in whole-time practice.
4Penalty (Sec 162)Penalty
If a company fails to comply with any of the provisions contained in section 159, 160 or 161 The company, and every officer of the company who is in default, shall be punishable with fine which may extend to Rs. 500/- for every day during which the default continues. Sec 94(4): Refusal to extract or failure to provide copy of the documents for inspection,
If the Company refuses to provide copy of the documents or prohibits the inspectors to take extracts of the documents required for inspection, then the company and every officer of the company who is in default shall be liable, for such default,
a. a penalty of Rs. 1000/- for every day subject to a maximum of Rs. 1 Lac during which the refusal or default continues.
Sec 92 (5):Failure in filing Annual Return:
If the company fails to file its annual return before the expiry of the period specified even with the additional fee, then the Company shall be punishable with
a fine which shall not be less than Rs.50,000/- but which may extend to Rs. 5,00,000/- and every officer of the company who is in default shall be punishable with
a. imprisonment for a term which may extend to 6 months or
b. with fine which shall not be less than Rs. 50,000/- but which may extend to Rs. 5 Lac, or
c. with both.
Sec 92 (6): Default in certifying Annual return by the PCS
If a company secretary in practice certifies the annual return otherwise than in conformity with the requirements of this section or the rules made there under, he shall be punishable with a fine which shall not be less than Rs. 50,000/- but which may extend to Rs. 500,000.
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