2023 (1) TMI 692 - HC - Companies Law

Filing of form AOC-4 which was required to be filed within 30 days of the Annual General Meeting (AGM) as per Section 137 of the Companies Act, 2013 read with Rule 12 of the Company (Accounts) Rules, 2014 - it is prayed by the Petitioner that an extension be given to the Petitioner for uploading the said documents without any additional fee of penalty - HELD THAT - The overdue e-forms were allowed to be deposited by 31st March, 2021 without additional payments. After perusing the said documents, it appears that the Petitioner was not ready to upload these documents either on 31st December, 2020 or even within the extended period of 31st March, 2021 - this Court does not see any merit in the prayer of the Petitioner for permitting to file the form AOC-4 or Form MGT-7 in respect of its AGM dated 28th September, 2019 without additional fee and penalty. The present writ petition is without any merit and is, accordingly, dismissed.

Issues:
1. Extension sought for filing form AOC-4 by petitioner company.
2. Validity and applicability of Company Fresh Start Scheme, 2020.
3. Failure to file documents within the prescribed deadlines.
4. Request for waiver of penalty/additional payment.
5. Dismissal of the writ petition.

Extension sought for filing form AOC-4 by petitioner company:
The petitioner company, Aurobindo Chaudhuri Memorial Great Indian Dream Foundation, sought an extension for filing the form AOC-4, required to be submitted within 30 days of the Annual General Meeting (AGM) as per the Companies Act, 2013. The petitioner claimed that due to technical issues on the last date for submission, they were unable to upload the documents. However, the court noted that there was no evidence to show that the forms were prepared or any attempt was made to upload them within the specified deadlines.

Validity and applicability of Company Fresh Start Scheme, 2020:
The respondent, Ministry of Corporate Affairs (MCA), introduced the Company Fresh Start Scheme, 2020 (CFSS-2020) to condone delays in filing required documents. The scheme was initially operational from 1st April, 2020, and extended till 31st December, 2020. The petitioner company failed to utilize the scheme within the extended period, leading to additional fees for overdue filings.

Failure to file documents within the prescribed deadlines:
Despite various circulars and schemes providing extensions for filing documents, the petitioner company did not submit the required forms within the stipulated timelines. The court observed that the petitioner was not prepared to upload the documents either by the original deadline or the extended period granted under the schemes.

Request for waiver of penalty/additional payment:
The petitioner made representations seeking waiver of penalty or additional payments, but the court found no merit in the request. The court noted that the petitioner had sufficient time and opportunities to comply with the filing requirements within the extended deadlines provided by the schemes but failed to do so.

Dismissal of the writ petition:
Based on the lack of merit in the petitioner's arguments and failure to comply with the filing requirements within the specified timelines, the court dismissed the writ petition. The court clarified that the petitioner was still free to upload the forms in accordance with the law, subject to any applicable penalty or additional payments.

In conclusion, the court found no grounds to grant the extension requested by the petitioner and dismissed the writ petition, emphasizing the importance of timely compliance with statutory filing requirements despite the availability of schemes providing relief for delayed filings.

← Previous Next →