Unter dem Companies Fresh Start Scheme 2020 (CFSS-2020) all Indian companies will receive the (expected unique) opportunity missed Reports, documents and forms at the registrar of Companies (RoC) to be submitted later.
According to the legal (also: Secretary) Compliance According to Indian corporate law (Companies Act 2013), numerous reporting obligations (filings) arise over the course of the year - see Annual Compliance Calendar. These include, among others, the Financial Statements (Form AOC-4 including balance sheet) and the Annual Returns (Form MGT-7), but also event-related filings, such as Appointment of new directors or the Change in share capital.
No prosecution – no fees – no rude awakening afterwards.
In particular, (smaller) branches of European medium-sized companies do not always carry out these tasks completely. Nevertheless, the directors are responsible for compliance with the Legal Compliance responsible and are also personally liable for it (possibly without being aware of it - see here).
Now the people responsible for this have the opportunity to catch up on all missed reports from the last few years without incurring (sometimes severe) penalties. We therefore recommend 100 percent to all those who have not been here in the last few years compliant were to make improvements and “get their house in order”. This will not only save you a lot of stress and hassle with the Indian authorities in the future, but also potentially save you a lot of money.
Speak to our European experts for administrative services in India. We would be happy to check for you where you still need to take action and how you can (continue to) remain unassailable in India.
