What is statutory return?

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Point put the statutory returns which a company is mandatory to file according to Companies Act

The companies Act stipulates that every company incorporated under the Act must file, submit or deliver various types of notices, returns, reports, copies of resolutions and any other documents to the Registrar of Companies subsequent to incorporation.
Returns and statements are to be filed with ROC from time to time and they are classified into two forms:

  1. Return on commencement of certain events
  2. Periodical returns, which are to be filed after a specified period.

The first category returns are to be filed when any contingency arises.  The important returns in this category are Creation of charges, return of allotment, change of directors, change in the registered office, passing of a special resolution.

The Companies Act, 2013

In the second category, the three important returns are

  1. Annual return under Section 159 and Section 160
  2. Balance sheet as well as profit and Loss Account under Section 220;
  3. Compliance Certificate under Section 383A

Annual Return : Section 159 and 161 deals with annual return.  As per Section 159, every company having share capital must file the annual return within 60 days from the day on which the annual general meeting was held.  The annual return should contain particulars of its registered office, register of its members, its shares and debentures, debts, list of directors, managing director, secretary of past and present.  The annual returns should be signed by the director of the company, by the manager or secretary or by two directors of the company.  If it is a listed company, whole-time secretary must also sign the annual return.  If the annual return is not filed, every office in default shall be punishable with a fine of Rs. 500/- per day during the time which the default continues

The Companies (Amendment) Act, 2015

Balance Sheet & Profit and Loss Account:

According to Section 210 and 211, a company should prepare the Balance sheet and P/L account, and audited, and required to be placed before the shareholders in the annual general meeting.  Under Section 220, three copies of Balance sheet and P/L account, Director’s report and Auditor’s report to be filed within 30 days from date of its adoption in the annual general meeting.

What are the steps involved in the Formation of a Company?

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Compliance Certificate:  The companies having a paid-up share capital of ten lakh rupees or more shall file the compliance certificate obtained from whole-time practice with the Registrar stating whether the company has complied with all provisions of the Act.  A copy of the compliance certificate is to be attached with the Board’s report referred under section 217.  The compliance certificate shall file with the Registrar within 30 days from the date on which the annual general meeting held.

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Adv. Anitha Gutti

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