All About MGT-7 : Purpose, Format, Due Date as per companies act 2013
MGT-7 is filed Pursuant to Section 92(1) of the Companies Act, 2013 and rule 11(1) of the Companies (Management and Administration) Rules, 2014. It is a E Form filed with ROC through Electronic mode.
Lets Discuss Purpose, Format, Due Date of MGT-7 as per companies act 2013
Who is required to file this Form
Every Company, public or private is required to file this form. This form is filed every year and also know as Annual return of the company.
What is due date of filing Annual return or MGT-7 for a company
Due date of filing Annual Return or MGT-7 for a company is 60 days from the date of Annual General Meeting of the company.
For Example if AGM of the Company has been held on 28th September 2019, Due date of MGT-7 would be 27th November 2019.
Also As per Company Law, Companies have to do there AGM on 30th Day of September , therefore due date of filing MGT-7 is 29th November.
What if I don’t File Form MGT-7 for my comapny
The penalty for not filing Form MGT-7 is Rs. 100 (Rupees Hundred) per day of default.
Also Director of a Defaulting Company can become disqualified, if this form is not filed for 3 consecutive years.
Thus timely filing of this form should be ensured.
What are the Details required for filing Annual Return
Details required for filing Annual Return are:
a) its registered office, principal business activities, particulars of its holding, subsidiary and associate companies;
b) its shares, debentures and other securities and shareholding pattern;
c) its indebtedness;
d) its members and debenture-holders along with changes therein since the close of the previous financial year
e) its promoters, directors, key managerial personnel along with changes therein since the close of the previous financial year;
f) meetings of members or a class thereof, Board and its various committees along with attendance details;
g) remuneration of directors and key managerial personnel;
h) penalty or punishment imposed on the company, its directors or officers and details of compounding of offences and appeals made against such penalty or punishment;
i) matters relating to certification of compliances, disclosures as may be prescribed;
j) Shareholding pattern of the company; and such other matters as required in the form.
What are the Attachment required to file the Form
List of shareholders, debenture holders shall be mandatory in case of company having share capital
Approval letter for extension of AGM if applicable
Copy of MGT-8 if applicable : The annual return, filed by a listed company or a company having paid-up share capital of ten crore rupees or more or turnover of fifty crore rupees or more, shall be certified by a Company Secretary in Form No. MGT-8.
Optional Attachment(s), if any For Example Separate sheet for information of share transfer along with details of transfer should be attached.
Form Where Can I download Form MGT-7
Link for downloading Form MGT-7 is Given below:
Do we need CS Certification while filing Annual Return
The annual return, filed by a listed company or a company having paid-up share capital of ten crore rupees or more or turnover of fifty crore rupees or more, shall be certified by a Company Secretary in practice.
You May Also Refer : All About AOC-4 : Purpose, Format, Due Date as per companies act 2013
Tags : What is due date of filing Annual return, Due Date of MGT-7, penalty for not filing Form MGT-7, CS Certification while filing Annual Return, download Form MGT-7
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