Cos not filing returns on time to face legal action

The government will take legal action against a third of the total listed companies in the country for not filing their annual returns on time, minister for corporate affairs Prem Chand Gupta told the Parliament. The minister said at the end of March 2008, out of the total 9,837 listed companies, 3,401 had not filed annual returns. “Action is being taken by the government as warranted under law wherever defaults in filing the annual returns are noticed,” Mr Gupta said in response to a question in the Lok Sabha