S, a director of VCT Ltd. wants to know from you as an expert of Company Law for consequences for non-filing of Annual Return of the Company. Explain the provisions of the Companies Act, 2013 from the company's point of

Consequences for non-filing of Annual Return: For the Company: Penalty: If any company fails to file its annual return, before the expiry of the period specified, such company and its every officer who is in default shall be liable to a penalty of ten thousand rupees and in case of continuing failure, with further penalty of one hundred rupees for each day during which such failure continues, subject to a maximum of two lakh rupees in case of a company and fifty thousand rupees in case of an officer who is in default. [Section 92(5)] Further, notwithstanding anything contained in the Companies Act, 2013, if penalty is payable for non-compliance of any of the provisions of this Act by a One Person Company, small company, start-up company or Producer Company, or by any of its officer in default, or any other person in respect of such company, then such company, its officer in default or any other person, as the case may be, shall be liable to a penalty which shall not be more than one-half of the penalty specified in such provisions subject to a maximum of two lakh rupees in case of a company and one lakh rupees in case of an officer who is in default or any other person, as the case may be. (Section 446B) Winding up: If the Company has defaulted in filing Annual Returns for the immediately preceding five financial years, the Company may be wound up by the Tribunal. (Section 271) Inactive status: If the Company has not filed its Annual Return for last two financial years, it will be termed as 'inactive company'. [Section 455(1)] Dormant status: If the Company has not filed its Annual Return for two financial years consecutively, the Registrar shall issue notice to the Company and enter its name in the Register of Dormant Companies. [Section 455(4)] Compounding of Offences: Provisions and procedure for compounding of offences, which are punishable under Companies Act, 2013 are stipulated under Section 441. Under section 441 of the Companies Act, 2013, any offence punishable under this Act (whether committed by a company or any officer thereof) not being an offence punishable with imprisonment only or punishable with imprisonment and also with fine, may, either before or after the institution of any prosecution, be compounded by: The Tribunal; or Where the maximum amount of fine which may be imposed for such offence does not exceed ₹25 lakh by the Regional Director or any Officer authorized by the Central Government.