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INC-28: Notice of Order of the Court or any other competent authority:
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Introduction:
INC-28 is a form prescribed by the Ministry of Corporate Affairs (MCA) in India. It is used by companies to notify the Registrar of Companies (RoC) about any order passed by a court or other competent authority. This form ensures that all legal orders affecting a company are officially recorded and acknowledged by the regulatory authorities.
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Who Needs to File:
Any company registered under the Companies Act, 2013, that receives an order from a court or any other competent authority must file Form INC-28. This could include orders related to the alteration of the company’s memorandum or articles of association, reduction of share capital, approval of a scheme of arrangement or amalgamation, or any other legal directive that impacts the company.
Importance:
Filing Form INC-28 is crucial for maintaining the legal compliance of a company. By officially notifying the RoC of court or tribunal orders, the company ensures that these orders are recognized and enforceable. It also protects the company from legal challenges and penalties that may arise from non-compliance with judicial or administrative directives.
Deadline:
Form INC-28 must be filed with the RoC within 30 days from the date of the court order or the order of any other competent authority. It is important to adhere to this deadline to avoid penalties and ensure timely compliance.
Documents Required:
The following documents are typically required when filing Form INC-28:
- A certified copy of the court order or order from the competent authority.
- An affidavit verifying the application (if applicable).
- Any other document as specified by the relevant authority or as required by the nature of the order.
Penalties for Non-Compliance:
Failure to file Form INC-28 within the stipulated time frame can lead to significant penalties. The company may be subject to fines, and in some cases, officers of the company may also face penalties. Additionally, non-compliance can result in the court order not being recognized by the RoC, leading to further legal complications.
Filing Process:
- Obtain a Certified Copy of the Order: Ensure you have a certified copy of the court or tribunal order that needs to be filed.
- Prepare the Necessary Documents: Gather all required documents, including affidavits or other supporting documents as needed.
- Log in to the MCA Portal: Access the Ministry of Corporate Affairs’ online portal (mca.gov.in).
- Download Form INC-28: Navigate to the “Forms & Downloads” section and download Form INC-28.
- Fill in the Details: Complete the form by entering the necessary details, including the company’s CIN, date of the order, and particulars of the order.
- Attach Documents: Upload the certified copy of the order and any other required documents.
- Sign and Certify the Form: Ensure the form is digitally signed by an authorized signatory of the company.
- Submit the Form: After completing all required fields and attaching the documents, submit the form online through the MCA portal.
- Payment of Fees: Pay the applicable filing fee as per the prescribed rates.
- Acknowledgment: Once submitted, an acknowledgment and SRN (Service Request Number) will be generated, which can be used to track the status of the filing.
FAQs
Filing Form INC-28 is important because it ensures that any court or tribunal order affecting the company is officially recognized and recorded by the Registrar of Companies (RoC). This helps maintain legal compliance, protects the company from potential legal challenges, and ensures that the order is enforceable.
Timely filing of Form INC-28 helps avoid penalties and legal complications. It ensures that the company’s records are up-to-date, reflecting any changes mandated by court or tribunal orders. This also helps in smooth operation and adherence to regulatory requirements.
By officially recording court or tribunal orders, Form INC-28 provides a clear legal standing for the company. It helps ensure that the company’s actions are in compliance with judicial directives, thus protecting the company from potential lawsuits or disputes related to non-compliance.
Yes, filing Form INC-28 enhances a company’s credibility by demonstrating its commitment to legal compliance. Stakeholders, investors, and business partners are more likely to trust a company that diligently follows legal procedures and keeps its records in order.
Form INC-28 plays a vital role in corporate governance by ensuring transparency and accountability in the company’s operations. It facilitates the official recording of significant legal changes, which is a key aspect of good governance and compliance management.
During mergers or acquisitions, the legal standing of both companies is thoroughly examined. By having all court orders properly filed through Form INC-28, a company ensures that there are no legal discrepancies or outstanding compliance issues, which can streamline the M&A process and enhance the company’s valuation.
Yes, Form INC-28 can help prevent internal disputes by officially recording orders that affect the company’s operations or governance structure. This provides clarity and reduces the risk of conflicts among shareholders, directors, or other stakeholders.
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