Comprehensive-list-of-Penalties-under-Companies-ActDownload
GENERAL INFORMATION Applicable law is THE COMPANIES ACT, 2013, and rules made there under, amended from time to time. Statutory provisions regarding the Ownership/Directors of a Private Limited Company Minimum number of members/shareholder required is 2 (Two) Maximum number of members/shareholders allowed is 200 (Two Hundred) Minimum numbers of Directors is 2 (Two) Minimum Paid up capital is no bar. Applicable Taxation Provisions A Company registered under the Companies Act, 2013 shall be subjected to the provisions of the Income Tax Act, 1949 [...]
DISQUALIFIED DIRECTORS OR STRIKE OFF COMPANIES LEGAL POSITION Disqualified Directors cease to be Director in any of the companies during the period of disqualification which is primarily of 5 years. Disqualified Directors cannot file any document or application with MCA Strike-off Companies cease to exist and do any business Certificate of Incorporation issued to the Strike-off companies shall be deemed to have been cancelled from the date of strike off of name from MCA register except for the purpose of [...]
As MCA has struck off the approx 209,000 Companies from its record because of “Non Filing of its financial statement for 3 years or more” as per provisions of Section 164(2) and issued the list of approx 100,000 Director who has been disqualified under 164(2). Both the lists are available on the website of the MCA. As per Section 164(2) if a company fails to file its Financial Statement or Annual Return for continuous 3 financial years, in such case [...]
