Business Line : Industry & Economy News : One-person companies may soon become a reality

Business Line : Industry & Economy News : One-person companies may soon become a reality

Cloud computing and Chartered Accountants

Cloud computing and Chartered Accountants

Responsibility of Professional Signing Annual Return

Responsibility of Professional Signing Annual Return

Responsibility of Professional Signing Annual Return

Responsibility of Professional Signing Annual Return

Short Note on Chairman of the Company

Short Note on Chairman of the Company

Normalising a dormant company

A dormant company is one which has not made any statutory annual filings ie., has not filed both annual returns and balance sheets for the years 2006-2007, 2007-2008 and 2008-2009.

Such Company can change its status to "active" by filing Form 61 and completing the fillings within 21 days from the date of approval of Form 61.

Application for normalising a dormant company:

Our company --------------was incorporated on ---------------with the main object of carrying on----------------and is continuing to carry on its business till date.

The company has duly convened its Annual General Meetings till date. However, the company failed to file its annual report/annual returns with the Registrar of Companies due to oversight.

Hence, the Board of Directors has decided to submit a request to the Registrar of Companies, Andhra Pradesh for regularising its status from 'Dormant' to 'Active' in the Master Data appearing in the MCA portal. The company hereby files Form 61 along with this application and the Board Resolution dated-----

Kindly accept our application and do the needful.

The Annual Return

What shall the Annual Return contain:

Relevant Section: Section 159 , Part 1, Schedule V of the Companies Act, 1956

• registered office of the Company
• register of its members
• register of its debenture holders
• its shares and debentures
• its indebtedness
• its members and debenture holders, past and present
• its directors, managing directors, managers,secretaries past and present 

The past and present details of its members need not be given if in any of the preceding 5 annual returns the full details of past and present members and the shares held and transferred by them are contained.The return in question may contain only particulars of persons ceasing to be members since that date and shares transferred since that date or changes in shares held by members since that date.
Who is required to sign the Annual Return :

Relevant Section: Section 161(1) of the Companies Act, 1956

 The Annual Return must be signed by 

• a director and by the Manager or Secretary
• where there is no manager or secretary, by  two directors of the company one of whom shall be a managing director if there is one.
• in case of listed companies, the annual return shall also be signed by a Company Secretary in Whole time practice.

Additional certification by the signatories:

Relevant Section: Section 161 (2)  of the Companies Act, 1956
  

• The return states the facts as they stood on the day of the AGM correctly and completely
• Since the date of the last annual return, the transfer of all shares and debentures and the issue of all further certificates of shares and debentures have been appropriately recorded in the books maintained for the purpose.
• in case of private company also that 1) the company has  not since the date of the AGM with reference to which the last annual return was filed, issued any invitation to the public to subscribe for any shares or debentures of the Company and that 2) where the annual return discloses the fact that the number of members of the company exceeds fifty, the excess consists wholly of persons who under Section 3 (1) (iii) (b) are not to be included in reckoning the number of fifty