• Notification Date: 18-02-2022
• Notification No: N/A

63 Companies struck off by ROC for Non-submission of Annual Return Files

63 companies failed to update their annual return files and the financial statements for the last two financial years 2019-2020. The Registrar of Companies (ROC) has struck off these companies for non-filing of returns.

ROC has previously dissolved 68 companies for the same reason in last year’s November. The Registrar had issued notice to these companies seeking clarification for the failure of return filing. A deadline of 30 days was given to these companies to provide satisfactory clarification from the date of issuing the receipt of the notice. 

The Companies Act, 2013 has made it compulsory for the companies to submit their annual reports and financial statements within the deadline provided by the ROC. But only five companies submitted their annual reports and financial statements till January 2022.

The Registrar of Companies, A Gokulnath has stated that the companies have an idea that it is sufficient to file the income tax and GST returns with the ROC. They do not feel the necessity of filing the statutory return files with the Registrar. This matter is being monitored very sincerely by the ROC and necessary actions are being taken to minimize the non-compliance of the statutory return files by the companies. 

According to his statement, the Union Corporate Affairs Ministry has launched a new scheme to improve the current situation of non-compliance practised by the companies. The Company Fresh Start Scheme (CFSS) has been introduced by the Ministry to uplift the situation in March 2020. Under this scheme, the companies will be considered for only a single time in case of non-compliance or late filing of the statutory reports.

He further added that the deadline for filing reports under this scheme was extended twice till December 2020. The situation was considered due to the adverse effects of the Covid-19 pandemic that had caused a massive downturn in the economy. But even after so much consideration, there were only 60% of annual compliance of the annual statutory reports in Puducherry. Companies that are not doing business are not getting the dormant status from the Registrar. The Registrar of Companies has thus, dissolved 63 such companies. These companies have been struck off which are not legal entities anymore. The list of these dissolved companies has been enlisted on the official website of ROC, https://www.mca.gov.in/mcafoportal/ as well as on the Gazette of India.

According to Gokulnath’s statement, ROC will issue notices to these companies. The notices will be issued by filing a declaration in form INC-20A within 180 days of incorporation. This would be beneficial for improving the scenario of non-compliance of annual statutory reports. The companies will be able to consult expert advice for filing their annual statutory reports within the allotted time.