Over 3.7 lakh companies have not filed annual returns and balance sheets, which is mandatory under the Companies Act, for the fiscal year 2008-09, Parliament was informed on Friday.
While the annual returns and balance sheet for the year 2009-10 are not yet due for filing, there are 3,70,196 companies which have not filed balance sheets, and 3,71,110 companies which have not filed their annual returns, Corporate Affairs Minister Salman Khurshid said in the Lok Sabha.
In a written reply in the house, he said the courts have imposed penalty to the tune of Rs 63.84 lakh for non-filing of these documents by the companies in the year 2008-09.
The balance sheets and annual returns are required to be filed with the Registrar of Companies (RoC) by all the companies registered under the Companies Act, 1956, he said.
Similarly, for the fiscal ended 2007-08 over 3.03 lakh companies have not filed their balance sheet, while more than 3.07 lakh companies have not filed their annual returns.
Details of companies which have not filed balance sheets and annual returns for the last three years, as per records available, are as under:
| Year | 2006-07 | 2007-08 | 2008-09 |
| Total number of companies required to file balance sheets and annual returns | 5,66,995 | 6,18,674 | 6,77,095 |
| No. of companies which have not filed balance sheets | 2,63,382 | 3,03,230 | 3,70,196 |
| No. of companies which have not filed annual returns | 2,64,575 | 3,07,236 | 3,71,110 |
The penalties imposed by the Courts for non-filing of these documents by companies during the last three years are as under:-
| Year | 2006-07 | 2007-08 | 2008-09 |
| Amount (Rs. In Lakhs) | 94.66 | 88.17 | 63.84 |
But what about their names, and which are the years to which these returns pertain? These are the fundamental and most relevant questions which must be answered.
Non filing is mainly on account of non allotment of DIN to existing Directors. While filing DIN application number of time rejected or non availability of proof mostly in case of ladies director and village persons.
without any fault of Directors, they have to pay additional fees with ROC and on another hand also pay to Govt on account of penalty by Hon’ble Court order.
This is double penalty to a person for the reasons beyond his control.
There should be a amenity scheme should come to make the defaulters good and which will also result into realisation of Govt revenue.
Thanks