ADDITIONAL FEES FOR BELATED FILING OF FORM
25C
The Department of Company Affairs
(DCA) has said that belated filing of Form 25C by managing or
whole-time director or a manager in a public company or a private
company under Section 269 of the Companies Act, 1956 with the
Registrar of Company (ROC) will not attract the virus of Section
637 B (b) of the Companies Act. In such cases, ROC will charge
additional fee on Form No.25C filed belatedly at the rate standardized
in 1995. In a circular to Regional Directors and Registrars of
Companies, DCA has clarified that ROC will charge additional fees
as the same falls within the ambit of Section 611 of the Companies
Act.
If an appointment of a managing or
whole-time director or a manager is made in accordance with the
conditions specified in parts I and II of Schedule XIII to the
Companies Act, a return in Form 25C is required to be filed with
the concerned ROC within ninety days from the date of such appointment.
A doubt was raised by companies whether filing of Form 25C belatedly
would attract Section 637 B (b) of the Companies Act, 1956.
Section 269 of the Companies Act,
1956 stipulates that no appointment of managing or whole-time
director or a manager in a public company or a private company
or a subsidiary of a public company shall be made except with
the approval of the Central Government unless such appointment
is made in accordance with the conditions specified in Parts I
and II of Schedule XIII to the Companies Act. Every application
seeking approval for the appointment of a managing or whole-time
director or a manager is required to be made to the Central Government
within a period of ninety days from the date of such appointment.
