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MCA Encodes Form 2018

Narendra Kumar

| Updated: Jan 11, 2018 | Category: Latest News

MCA

The ministry of corporate affairs has come up with the scheme for Condonation of delay and it is operative from 1st January 2018 to 31st March 2018. The Directors who were disqualified due to the non-filing of Financial Statements and Annual returns for continuous three years can file MCA Form encodes from 2018 to regularize compliance and to avoid permanent disqualification of 5 years.

Filling Form Encodes

The Directors who were disqualified due to the non-filing of Financial Statement and Annual Returns can now file Form encodes. The DINs of the disqualified Directors are re-activated from 1st January 2018 to 31st March 2018 to do fillings of overdue documents. The directors you were not in a capacity to file Forms with Ministry of corporate affairs can use this scheme of Condonation and get a chance to regularize the compliance.

Procedure for filling Form encodes

  • The first steps before filling form encode, Directors should prepare a list of pending compliances and all overdue financial documents.
  • Once the documents are arranged, the same should be audited for all pending years.
  • An Annual General Meeting should be conducted once the documents are audited.
  • The overdue financial documents along with the necessary attachments should be filed with the Ministry of corporate affairs.
  • Appropriate payment along with additional fees should be paid.
  • The directors can file Form encodes before 31st March 2018, once all the overdue documents annual returns are filed.
  • However, the encodes Form will be available on the MCA portal from 20th February 2018.
  • During the time frame, Directors can submit all the overdue documents from MCA portal weft. 1st January 2018.
  • In short, we can state that the procedure for completion of overdue documents can be completed before Encodes Forms are out.
  • Once the encodes forms are available on the MCA portal, directors can download it and can file these forms along with the details of overdue financial documents.
  • Payment has to be made of Rs. 30,000/- for filling of Form encodes.
  • On filling Encodes forms, the disqualification of the Directors will be removed.
  • The DINs of disqualified directors will remain active after the submission of Form encodes.

Failure to file encodes Forms

Once the company has complied with all the pending overdue financial documents before 31st March 2018 but has failed to file encodes form, then still the DINs of disqualified directors will be deactivated after 31st March 2018.

Therefore, it is necessary for all disqualified directors availing for the facility of Condonation of delay scheme to file form encodes along with the requisite fees and penalty to regularize compliance.

Failure to avail Condonation of delay scheme

The directors who were disqualified for noncompliance of annual returns and has not availed the facility for Condonation of delay scheme will be disqualified for a period of 5 years.  The Directors who are disqualified cannot incorporate a new company and have to face other consequences for defaulting as provided under Companies Act, 2013[1].

Narendra Kumar

Experienced Finance and Legal Professional with 12+ Years of Experience in Legal, Finance, Fintech, Blockchain, and Revenue Management.

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