PubKGroup’s Post

Yes, annual returns filing is mandatory but how will they know? I recently discovered that many businesses are unaware of their legal obligation to file annual returns or are unfamiliar with the concept altogether. A casual search on the Corporate Affairs Commission's (CAC) public search e-registry revealed that some companies registered as far back as 1980 have never filed annual returns or updated their business information on the CAC's portal. This lack of compliance was further highlighted when a business owner approached me recently to regularize their company's filings, including annual returns and bio-data updates, for a business registered in 1985/86 under the Registration of Business Names Act of 1961 (I found out about this act this weekend) I am concerned that many businesses may be delisted due to non-compliance with the Companies and Allied Matters Act (CAMA) 2020, particularly Section 692 (3) (4), without even being aware of the regulations. How can we effectively raise awareness about this critical requirement and prevent unintended delistings? #tamunonemitekenah #cacfilings #annualreturns #startupstipsntricks #linkedinlearning

🆕 𝐌𝐂𝐀 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐲 𝐔𝐩𝐝𝐚𝐭𝐞𝐬! 🆕 Catch up on the latest updates from the Ministry Of Corporate Affairs (MCA) : Update - 1. 𝐌𝐂𝐀 𝐈𝐦𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐬 𝐞-𝐀𝐝𝐣𝐮𝐝𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦 𝐟𝐨𝐫 𝐏𝐞𝐧𝐚𝐥𝐭𝐲 𝐀𝐝𝐣𝐮𝐝𝐢𝐜𝐚𝐭𝐢𝐨𝐧   MCA has amended the Companies (Adjudication of Penalties) Rules, 2014 to implement the e-Adjudication platform for adjudicating penalties by the Registrar in the following manner: • 𝐅𝐫𝐨𝐦 𝟏𝟔𝐭𝐡 𝐒𝐞𝐩𝐭𝐞𝐦𝐛𝐞𝐫 𝟐𝟎𝟐𝟒, all proceedings (including the issuance of notices, filing of replies or documents, submission of evidence, holding of hearings, attendance of witnesses, passing of orders, and payment of penalties) conducted by the adjudicating officer and Regional Director shall take place exclusively in electronic mode through the e-adjudication platform. • If the email address of any person is not available, the adjudicating officer shall send the notice by post to the last known address or the address available in the records. A copy of such notice shall be preserved in the electronic record on the e-adjudication platform. • If no address of the person concerned is available, the notice shall be placed on the e-adjudication platform. 👉 𝐂𝐥𝐢𝐜𝐤 𝐡𝐞𝐫𝐞 𝐭𝐨 𝐯𝐢𝐞𝐰 𝐑𝐮𝐥𝐞𝐬: https://lnkd.in/gQG_hx4Y Update - 2. 𝐂𝐞𝐧𝐭𝐫𝐞 𝐟𝐨𝐫 𝐏𝐫𝐨𝐜𝐞𝐬𝐬𝐢𝐧𝐠 𝐀𝐜𝐜𝐞𝐥𝐞𝐫𝐚𝐭𝐞𝐝 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐄𝐱𝐢𝐭 (𝐂-𝐏𝐀𝐂𝐄) 𝐝𝐞𝐬𝐢𝐠𝐧𝐚𝐭𝐞𝐝 𝐚𝐬 𝐀𝐮𝐭𝐡𝐨𝐫𝐢𝐭𝐲 𝐟𝐨𝐫 𝐋𝐋𝐏 𝐒𝐭𝐫𝐢𝐤𝐞-𝐎𝐟𝐟 MCA has amended the LLP Rules, 2009 to designate the Centre for Processing Accelerated Corporate Exit (C-PACE) as authority for striking off LLPs w.e.f 27th August, 2024. 👉 𝐂𝐥𝐢𝐜𝐤 𝐡𝐞𝐫𝐞 𝐭𝐨 𝐯𝐢𝐞𝐰 𝐑𝐮𝐥𝐞𝐬: https://lnkd.in/gDKpTQFb 🔗𝐅𝐨𝐥𝐥𝐨𝐰 𝐨𝐮𝐫 𝐩𝐚𝐠𝐞 𝐭𝐨 𝐧𝐞𝐯𝐞𝐫 𝐦𝐢𝐬𝐬 𝐚𝐧 𝐮𝐩𝐝𝐚𝐭𝐞. #RegulatoryUpdates #MCANews #MCAUpdates #Compliance #BusinessRegulations #CorporateLaw #RegulatoryUpdates #eAdjudication #LLPExit #CompanyLaw #CorporateGovernance #StayInformed #StayUpdated #IndustryNews #BusinessCompliance #LegalUpdates #CorporateProfessionals

Beginning January 1st, 2024, business entities are required to disclose beneficial owner information as part of the Corporate Transparency Act (CTA) or face harsh penalties. This seminar, presented by Brittaney Besler and Samantha Dragotto, will explain the details of the new CTA filing requirements and will guide you through the filing process. Find out more here: https://lnkd.in/ee58gdTN #yourworldworthmore #corporatetransparencyact

The deadline for filing a beneficial ownership information report under the CTA for all business entities formed prior to this year is December 31, 2024. Start gathering the necessary information and file your report by the Corporate Transparency Act deadline. https://lnkd.in/gu76rfWv #IPLaw #CTA #CorporateTransparencyAct

New to government contracting? Learn all about ensuring end-to-end compliance with FAR regulations across your government contracting operations in this latest blog by Steve Fehr, SVP of Sales and Regulated Industries at Cognitus! Read the full blog here: https://hubs.la/Q02tPtBt0 #FAR #compliance #governmentcontracting #governmentcontractors #federalcontractors

Many businesses do not file annual returns because they are not in operations or have not made a profit. However, the obligation to file annual returns is mandatory whether or not you have conducted business from registration or in the preceding year and is not dependent on profit making. Here is what you need to know about relisting your company to the Register of Companies after it has been struck off by the Corporate Affairs Commission (CAC) #annualreturns #compliance #CAC #business

The deadline for filing a beneficial ownership information report under the CTA for all business entities formed prior to this year is December 31, 2024. Start gathering the necessary information and file your report by the Corporate Transparency Act deadline. https://lnkd.in/gu3EPyii #IPLaw #CTA #CorporateTransparencyAct

New to government contracting? Learn all about ensuring end-to-end compliance with FAR regulations across your government contracting operations in this latest blog by Steve Fehr, SVP of Sales and Regulated Industries at Cognitus! Read the full blog here: https://lnkd.in/g726SWav #FAR #compliance #governmentcontracting #governmentcontractors #federalcontractors

The deadline for filing a beneficial ownership information report under the CTA for all business entities formed prior to this year is December 31, 2024. Start gathering the necessary information and file your report by the Corporate Transparency Act deadline. https://lnkd.in/g7m4juHf #IPLaw #CTA #CorporateTransparencyAct