Section 137 of the Companies Act, 2013
Section 137 of the Companies Act, 2013 deals with the filing of financial statements with the Registrar of Companies (ROC) by companies in India.
🔹 Section 137 – Copy of Financial Statement to be Filed with Registrar
Key Provisions:
Filing Obligation:
Every company is required to file its financial statements (including consolidated financial statements, if applicable), along with all required documents, with the Registrar of Companies (ROC) in Form AOC-4.
Timeline for Filing:
The financial statements must be filed within 30 days of holding the Annual General Meeting (AGM).
If the AGM is not held, the company must still file the financial statements within 30 days from the date the AGM should have been held.
One Person Company (OPC):
An OPC must file its duly adopted financial statement within 180 days from the end of the financial year (not dependent on AGM).
Signing of Financial Statement:
The financial statement must be approved by the Board, signed by the Chairperson (or any authorized director), CEO, CFO, and Company Secretary, where applicable.
Penalties for Non-compliance (as amended by the Companies (Amendment) Act, 2020):
If the company fails to file the financial statements:
The company shall be liable to a penalty of ₹10,000, and
In case of continuing failure, a further penalty of ₹100 per day, subject to a maximum of ₹2 lakh for the company and ₹50,000 for each responsible officer (such as directors).
✅ Purpose:
Section 137 ensures transparency and accountability by requiring companies to make their financial results available to regulators and stakeholders.
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