If there is delay in filing of Form-23B by statutory auditor, whether penalty under section-629A will be attracted or in any other section? If penalty is attracted then what is the procedure for payment or ROC will intimate the same.
I agree with Mr. Unmesh, as normally it is not seen that penalty is levied for non furnishing of form 23B, but, nowadays, as there has come wide changes in functioning of ROC ,Recently it is heard, that notices are sent to some CA Firms from ROC, for giving explaination for using SRN No. Z999999 for filing form Form 23AC, and being asked that why form 23b was not filed by them, so Nowadays it is advisable to file form 23B with ROC ASAP, without delay., And as asked by you, about the penalty procedure, i think that u will get to know about the same, only after u recieve a notice from ROC regarding the same, There is no other way to know about the penalty, as even no time is prescribed for filing the form 23b with ROC till now.
1.AS PER SEC. 224(1A) OF THE COMPANIES ACT FORM 23B IS TO BE SUBMITTED BY AUDITOR TO ROC WITHIN 30 DAYS OF RECEIPT OF APPOINTMENT.
2.BUT ROC IS ALLOWING EVEN IF YOU HAVE NOT FILED FORM 23B.
3.IN FACT THERE ARE CASES THAT ONE CA HAS FILED FORM 23B & STATUTORY AUDIT IS CONDUCTED & SIGNED BY OTHER CA & 23AC HAS BEEN FILED. IN E-FILING THERE IS NO CROSS CHECK.
4. LAST WEEK IN A MEETING WITH ROC HE CONFIRMED THE ABOVE FACT.
I have never seen any case where penalty for this default being initiated by the ROC, Normally if form 23B could not be filed in time CA's dont file this form and they usually use Z99999999 as default SRN no. in annual filing, although if you want to file this form i will suggest you should file the form and wait for the action from ROC end.