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Remedies for Delayed Filing of Form 8 and Form 17 under The Companies Act



If there is a delay for late filing of Form 8 and form 17 under the Companies Act, 1956, there are way outs by which you can bring the needful in the required format. To start with, the remedies for delayed filing of Form 8 and Form 17 under The Companies Act requires a petition to be filed with Regional Director, Ministry of Corporate Affairs and earlier the same was required to be made to Company Law Board. In this article, we have jotted the procedure for making the petition for condonation of delay under Section 141 of the Companies Act, 1956 in step on step format, which would capture the remedies for delayed filing of Form 8 and Form 17 under the Companies Act as under flown below.

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1. Call for a board meeting to decide to file a petition under Section 141 for condonation of delay in respect of form 8 and form 17 filed after due date. Form 8 can be filed within 30 days from the date of creation or modification  and if it is not possible additional period of 30 days is allowed that is within 60 days and in case of Form 17 within 30 days from the dated of satisfaction of charge.

2. In the Board meeting authorize the Practicing Chartered Accountant has to appear on behalf of the company.

3., File 8 / Form 17 with ROC. One time filing fees will be required to be paid and remark will be appearing challan of the Form 8 / Form 17 regarding number of delays.

4. Prepare a petition for condonation of delay.  There is a specific format of the petition.

5. Reason for the delay must be specific. It is advisable not to mention that mistake is made inadvertently. Please specify that the officer entrusted with the work left the company or some other specific reason.

6. Prepare the petition and file it with form 24AAA. Form 24AAA is filing of form with Regional director. The charges for filing form is Rs. 1000/-

7. File Form 61 and file it with ROC. The charges for filing form is depending upon the Authorized Share Capital of the Company varying from Rs. 200 to Rs. 500

8. The petition is required to be enclosed with the following documents. There is no need to file any demand draft along with the petition.

  • Certified copy of Form 8 filed along with challan
  • MOA and AOA copy
  • Copy of the Board resolution
  • Copy of Form 61 along with challan
  • Copy of form 24AAA
  • Memorandum of Appearance in case it is filed by a Practicing Professional.
  • An affidavit verifying the petition on a non judicial stamp paper Rs. 20 which is notarized shall be attached.

9.  The petition has to be filed with the Regional Director with the Regional Office of the Ministry of corporate Affairs in the jurisdiction where the existing registered office is situated.

10. A hearing will not take place at the Regional Director office normally and order will be despatched after one or two weeks. However if the delay is more than one year the hearing may be held at RD office.

12. The entire process will take approximately two weeks and it also requires follow up with Regional Director Office.

Flow chart of the procedure of remedies for delayed filing of Form 8 and Form 17 under The Companies Act

Board Resolution for filing petition for Condonation of Delay and authorizing Practicing professional / Director to file the petition.
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Petition shall be prepared explaining reason for delay along with affidavit verifying petition by the director, MOA, AOA, Form 8 or 17, Challan paid for Form 8 or 17 and Memorandum of Appearance
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File Form 61 with petition and all other attachment
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File Form 24AAA  with petition and all other attachments
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File the original Petition with ROC along with enclosures
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Order will be issued by Regional Director mentioning prescribed fees for delay
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After paying the fees as directed by RD in miscellaneous payment with reference of Form 8 SRN number, File Form 21 within 30 days of passing order by paying requisite fees
While filing Form 21, MCA will show a remark to file the original order with ROC. And therefore file the original order along with copy of Form 21 and Challan copy of payment of fees as mentioned in the order
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After few days Check whether Form 8 is approved by entering the SRN no in track transaction status, otherwise follow up with ROC
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Once Form 8 is approved, Charge ID will appear for Form 8 in the Index of Charges

About: 

Alok Patnia founded Taxmantra.com, an expert in tax advisory & compliance. He is a Chartered Accountant having prior exposure with Ernst & Young & KPMG.

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