Amended and updated notes on section 405 of Companies Act 2013. Detail discussion on provisions and rules related to power of Central Government to direct companies to furnish information or statistics.
Chapter XXV (Section 405) of the Companies Act, 2013 (CA 2013) deals with the provisions related to companies to furnish information or statistics. Section 405 of CA 2013 provides for power of Central Government to direct companies to furnish information or statistics.
Recently, we have discussed in detail section 404 (Fees, etc., to be credited into public account) of CA 2013. Today, we learn the provisions of section 405 of the Companies Act 2013.
The provisions of section 405 are effective from 12th September, 2013. You may refer Notification No. S.O. 2754(E) issued dated 12-09-2013. In this article, you will learn detail of the provisions of section 405 the Companies Act 2013.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | XXV |
| Chapter Name | Companies to furnish information or statistics |
| Section No. | 405 |
| Section Name | Power of Central Government to direct companies to furnish information or statistics |
| Monthly Updated Edition | Company Law PDF |
Section 405 of Companies Act 2013: Power of Central Government to direct companies to furnish information or statistics
Section 405 shall come into force on 12th September, 2013 vide Notification No. S.O. 2754(E) dated 12.09.2013
(1) The Central Government may, by order, require companies generally, or any class of companies, or any company, to furnish such information or statistics with regard to their or its constitution or working, and within such time, as may be specified in the order.
(2) Every order under sub-section (1) shall be published in the Official Gazette and may be addressed to companies generally or to any class of companies, in such manner, as the Central Government may think fit and the date of such publication shall be deemed to be the date on which requirement for information or statistics is made on such companies or class of companies, as the case may be.
(3) For the purpose of satisfying itself that any information or statistics furnished by a company or companies in pursuance of any order under sub-section (1) is correct and complete, the Central Government may by order require such company or companies to produce such records or documents in its possession or allow inspection thereof by such officer or furnish such further information as that Government may consider necessary.
(4) If any company fails to comply with an order made under sub-section (1) or subsection (3), or knowingly furnishes any information or statistics which is incorrect or incomplete in any material respect, the company shall be punishable with fine which may extend to twenty-five thousand rupees and every officer of the company who is in default, shall be punishable with imprisonment for a term which may extend to six months or with fine which shall not be less than twenty-five thousand rupees but which may extend to three lakh rupees, or with both.
(5) Where a foreign company carries on business in India, all references to a company in this section shall be deemed to include references to the foreign company in relation, and only in relation, to such business.
CG vide S.O. 368(E), dated 22nd January, 2019 makes an order called the Specified Companies (Furnishing of information about payment to micro and small enterprise suppliers) Order, 2019. Accordingly, every specified company shall file a return as per MSME Form I, by 31st October for the period from April to September and by 30th April for the period from October to March.