Due date of AOC-4 extended upto 30^th November: Relief or Cover-up from MCA

 

Much awaited extension of due date for filing Form AOC-4 has finally been extended. Due date of AOC-4 extended upto 30^th November: Relief or Cover-up from MCA??

Ministry of Corporate Affairs through General Circular N o.74/2075 has extended the due date for filing of the Form AOC-4 has been extended upto 30^th November 2015.

 

In continuation of this Ministry’s General Circular No.10/2015 dated 13.07.2015, keeping in view the request received from various stakeholders, it has been decided to relax the additional fee payable on forms AOC-4 and AOC-4 XBRL upto 30th November, 2015. The additional fee requirement for MGT-7 E-Form is also relaxed for all such forms filed till 30th November, 2015, wherever additional fee is applicable.

 

The due date for filing of form AOC-4 with the Registrar of Companies (ROC) under the Ministry of Corporate Affairs (MCA) was 30^th October 2015. However, there were several technical issues with the forms and the filing portal of MCA, restricting the filings of the same.

 

This year the Government has made enormous changes not only in the forms to be filed, but also in the attachments. Some of the illustrative changes are as follows:

 

1. The Form AOC-4 is itself a new one, a 13 page form replacing 4 page earlier form 23AC/ACA and has been released recently in the month of October. Further, the government is constantly changing the versions of the form and has also proposed bringing in a new version of the Form on 29.10.2015
2. Earlier there was a two page attachment, but now we need to attach the scanned copies of the complete and signed annual report consisting of Directors Report, Auditors Report, Financials and Notes to accounts.
3. The formats of Directors Report and Auditors Report are also a new one.

 

In addition to this the major issue was the SRN of ADT-1 filed for FY 2014-15. The SRN of ADT-1 filed after 20^th October 2014 was not accepted in Form AOC-4. For instance if we have filed ADt-1 after the due date with penalty say in November 2014 then SRN of such ADT was not accepted.

 

Also to be noted the companies which incorporated after October 2014 will file ADT 1 after incorporation only. But to be noted SRN of such companies also got rejected.

 

Issues with the AOC-4 Form are not restricted to this. We all know that in case of OPC, where there is only ONE director. In the Form AOC-4, when DIN of ONE director who signed the financials is filled, it shows INVALID DIN.

 

MCA must know and also consider this in Forms that OPC will have only ONE director in the company. So, the extension of due date is relief or cover-up from MCA?

 

When complaints were raised with MCA with all these issues, there was no solution from their side. So, it’s being an earnest request to Ministry of Corporate Affairs to consider all the possibilities while issuing the new and modified Forms and to give us the considerable time period to get familiar with new forms.

 

Click to download the CIRCULAR.

 

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