The Ministry of Corporate Affairs has informed vide its press release that there shall be no extension of due date for Annual Filings. Thus it means that if any company fails to file their Annual Returns in AOC-4 and MGT-7, additional Government Fees shall be levied on it.

In a previous notification on October, the Ministry already extended the due date by 30 days which was a huge relief for the business community. However, through this press release, it has made amply clear that there shall be no further relaxation and the Government is pretty serious in implementing the Corporate Governance practice in India. So, if your Annual Filings is not done yet, make sure its done by the due date!