ROC Levies NIL Penalty As Company Corrects Default on Time:

Section 92 of the Companies Act, 2013, requires companies to file their annual returns in Form MGT-7 with the Registrar within 60 days of the AGM.

ROC Waives Penalty Over CIRP Compliance

Nidhi

Apr 19, 2026

Last update on Apr 19, 2026

ROC Levies NIL Penalty As Company Corrects Default on Time The Registrar of Companies (ROC), Kolkata, has issued a penalty order on a company for not filing its annual return on time. It was found that the company, Varutha Developers Pvt Ltd, had failed to file its Annual return for the financial Year 2023-2024. This violated Section 92 of the Companies Act, 2013. Because of this, the company and its directors were held liable for the ROC Penalty. Section 92 of the Companies Act, 2013, requires companies to file their annual returns in Form MGT-7 with the Registrar within 60 days of the AGM. However, the company had already gone through the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code. During this process, the Resolution Professional filed the Balance Sheet and Annual Return for the financial year 2023-2024 Since the default was corrected before or within the specified time, the ROC waived the penalty.

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