Shri Salman Khurshid, Minister of Corporate Affairs, has said that under the Companies Act,1956, it is mandatory for all companies to submit annual return, balance-sheet, etc. to the Government. Giving this information in written reply to a question in the Rajya Sabha, Shri Khurshid informed the House that during last 3 years (2006-07, 2007-08 and 2008-09) the number of companies that have not filed their Balance Sheet is as follows:
- 2006-07: 2,19,952
- 2007-08: 2,55,587
- 2008-09 3,06,547
As per this information the number of companies which have not filed their Annual Return for the last three years is as follows:
- 2006-07: 2,21,109
- 2007-08: 2,59,454
- 2008-09 3,08,472
Shri Khurshid informed the Rajya Sabha that in case of default, the Registrar of Companies issues show cause notices and prosecutions are filed against such companies and their directors.
