The Ministry of Corporate Affairs (“MCA”) has amended the higher additional fees payable by defaulters upon any default on 2 (two) or more occasions in submitting, filing, or registering documents and information as prescribed under the Companies Act, 2013 through 2 (two) notifications dated 11 January 2022.
The first notification dated 11 January 2022 has brought into effect the amendments to Section 403 that were introduced by the Companies (Amendment) Act, 2020. Prior to the amendment Section 403 provided that where a default in filing occurs on 2 (two) or more occasions, the filing may be made on payment of higher additional fee which shall not be lesser than twice the additional fee prescribed for defaults in the first instance. The amendment has removed this minimum cap on the higher additional fee, and the higher additional fee shall be payable as prescribed under the Companies (Registration Offices
and Fees) Rules, 2014 (“Rules”).
Pursuant to the notification of the changes introduced by the Companies (Amendment) Act, 2020 as mentioned above, the second notification has laid down the higher additional fees for such instances of defaults on 2 (two) or more occasions.
Please click here and here to read the notifications introduced by the MCA.
