Kedar Anil Gadgil .

Companies incorporated on or before 31 December 2017 to file “Active Company Tagging Identities and Verification” before 25 April 2019 under threat of a fine of Rs.10,000.…/CompaniesIncorporationAmendmentRule…

Every day, this government invents a new way to harass the entrepreneur, to threaten businesses, to increase compliance load, and to create new headaches for people just trying to survive in this economy and create the much needed jobs.

How do you expect us entrepreneurs to get any work done at all if all the time, we are working on accounting and regulatory compliance? And heavens forbid if you are a start-up and too cash-poor to have a regular accountant and company secretary. That's just too bad. Leave aside your business and get cracking on struggling with online forms and decoding complex rules and legislations.

Today, entrepreneurs are constantly having to prove their genuineness, with a presumption of guilt and fraud. Are we criminals? Or do you want to punish us just for dreaming and wanting to build something of value by risking it all? गलती की क्या हमने के धंदा करने की कोशिश की? Is this your much tom-tommed "Ease of doing business"? Do you want us all to quit and the country go back to being ruled by foreign companies like before 1858? How do you think this will end well?


Originally Posted Here

Dipankar Dutta

Agreed 100%.

Kedar Anil Gadgil

The worst part is that none of this crazy compliance stops a Nirav Modi or a Mehul Choksi or a Vijay Mallya. And the ridiculousness of the MCA and government's demands keeps increasing. Now, for the above compliance, they want to know the Lat-Long of our registered office, a photo of the building, and a photo of at least one director sitting in the office. I mean, seriously? Do they think this would have deterred or stopped a Nirav?

Dipankar Dutta

While the whole world is moving towards virtual offices, co-working spaces, etc. these jokers are going backward in time. These assholes are increasing compliance cost for entrepreneurs to make small money for the government. They are slowly destroying job creation and some large companies are even shifting registered office out of India.

And why Nirav Modi or Mallya, even ILFS owned largely by SBI and LIC is creating much bigger scam than all of Mallyas and Modis.

Kedar Anil Gadgil

I know. And as if knowing the latitude and longitude of their registered addresses would have made a difference!

Dipankar Dutta

Let them first find out the latitude and longitude of Nitin Gadkari's office. He submitted a godown in Kolkata as his company's registered office

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