Late Filing of Form MGT 14

    Posted By : CS Gaurav / Published on : 08-May-2019 11:03 AM / View : 1023 / Comment : 0
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    Dear All,

    In a listed Company, a Company Secretary and a CEO were appointed in the last week of February, 2019. Form DIR-12 for their appointment was duly filed with MCA. However, inadvertently, the Company failed to file Form MGT 14 for their appointment.

    As per latest provisions after implementation of Companies Ordinance, 2018 i.e. 2nd November, 2018, ROC has powers of Adjudication for filing of Form MGT 14 beyond the period of 30 days.

    “In case of non compliance like filing of e-form after 30 days ROC can impose penalty on Company and Officer in Default. ROC after filing of form directly can send notice to Company for payment of penalty without any application, petition in front of any authority.”

    The company is at present a SICK Company and can't afford to pay the penalty that may be imposed by ROC. Please guide what is the way out for the Company.
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