Companies Act Section 403 — Fee for filing, etc
CHAPTER XXIV REGISTRATION OFFICES AND FEES
Commercial / Corporate
Summary
Sub-section (1) states that any document, fact, or information that must be submitted, filed, registered, or recorded under this Act must be done so within the time limit given in the relevant provision, and a prescribed fee must be paid for it.
The first proviso to sub-section (1) says that if a document, fact, or information required under section 92 or 137 is not submitted, filed, registered, or recorded within the time period given in those sections, it can still be done after that period has expired. This is allowed on payment of an additional prescribed fee, which must be at least one hundred rupees per day, and different amounts may be set for different classes of companies. This is without prejudice to any other legal action or liability under the Act.
The second proviso to sub-section (1) covers cases other than those in the first proviso. If a document, fact, or information is not submitted, filed, registered, or recorded within the time period given in the relevant section, it can still be done after that period, on payment of an additional prescribed fee. Different fees may be prescribed for different classes of companies, and this is also without prejudice to any other legal action or liability under the Act.
The third proviso to sub-section (1) deals with repeated defaults. If there is a default on two or more occasions in submitting, filing, registering, or recording such a document, fact, or information, as may be prescribed, it can still be done on payment of a higher additional fee, as may be prescribed. This is also without prejudice to any other legal action or liability under the Act.
Sub-section (2) states that if a company fails or commits any default in submitting, filing, registering, or recording any document, fact, or information under sub-section (1) before the expiry of the period specified in the relevant section, then the company and its officers who are in default will, without prejudice to the liability for paying the fee and additional fee, also be liable for the penalty or punishment provided under this Act for that failure or default.
Official Text
(1) Any document, required to be submitted, filed, registered or recorded, or any fact or information required or authorised to be registered under this Act, shall be submitted, filed, registered or recorded within the time specified in the relevant provision on payment of such fee as may be prescribed: 1[Provided that where any document, fact or information required to be submitted, filed, registered or recorded, as the case may be, under section 92 or 137 is not submitted, filed, registered or recorded, as the case may be, within the period provided in those sections, without prejudice to any other legal action or liability under this Act, it may be submitted, filed, registered or recorded, as the case may be, after expiry of the period so provided in those sections, on payment of such additional fee as may be prescribed, which shall not be less than one hundred rupees per day and different amounts may be prescribed for different classes of companies:] 2[Provided further that where the document, fact or information, as the case may be, in cases other than referred to in the first proviso, is not submitted, filed, registered or recorded, as the case may be, within the period provided in the relevant section, it may, without prejudice to any other legal action or liability under this Act, be submitted, filed, registered or recorded as the case may be, on payment of such additional fee as may be prescribed and different fees may be prescribed for different classes of companies: 3[Provided also that where there is default on two or more occasions in submitting, filing, registering or recording of such document, fact or information, as may be prescribed, it may, without prejudice to any other legal action or liability under this Act, be submitted, filed, registered or recorded, as the case may be, on payment of such higher additional fee, as may be prescribed.]] 4[
(2) Where a company fails or commits any default to submit, file, register or record any document, fact or information under sub-section (1) before the expiry of the period specified in the relevant section, the company and the officers of the company who are in default, shall, without prejudice to the liability for the payment of fee and additional fee, be liable for the penalty or punishment provided under this Act for such failure or default.]