The End of MGT-9 Requirement

The End of MGT-9 Requirement : Since previous days many professionals have asked one question Whether MGT-9 is required for F.y. 2017-18 or not. As per CA, 2013 section 134, Companies were required to prepare MGT-9 extract of Annual Return and such MGT-9 was required to be filed with Directors Report. However, this provision has been amended by CAA, 2017 w.e.f. 31.7.2018 i.e. as per notification dated 31st July, 2017 provision in relation to MGT-9 has been removed from Section 134 and a new provision has been added i.e. the web address, if any, where annual return referred to in sub-section (3) of section 92 has been placed. Therefore, one can opine that MGT-9 is not required to prepare by any Company if Directors Report approved in Board Meeting on or after 31st July, 2018. i. First: Notification of Section 36 of Companies Amendment Act, 2017 ii. Second: Section 36 of Companies Amendment Act, 2017 or can say section 134 of Companies Act, 2013. Therefore, one can opine that w.e.f. 31st July, 2018 I. OPC and Small Company shall prepare directors report as per Rule 8A and rule 8A states the web address, if any, where annual return referred to in sub-section (3) of section 92 has been placed II. Companies other than OPC and Small Company follow section 134 and section 134 states the web address, if any, where annual return referred to in sub-section (3) of section 92 has been placed Note: Company have to give Link of Annual Return not Extract of Annual Return Which means, MGT-9 is totally removed from Companies Act, 2013 w.e.f. 31st July, 2018. Link for Draft Directors Report: https://studycafe.in/2018/07/abridged-directors-report-opc-and-small-company.html https://studycafe.in/2018/08/draft-format-of-directors-report.html FAQs Annual Filing: https://studycafe.in/2018/08/annual-filling-company-law-as-updated-by-company-amendment-act-2017.html

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(Author CS Divesh Goyal, GOYAL DIVESH & ASSOCIATES Company Secretary in Practice from Delhi and can be contacted at [email protected]). Disclaimer: The entire contents of this document have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation. Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, I assume no responsibility therefore. Users of this information are expected to refer to the relevant existing provisions of applicable Laws. The user of the information agrees that the information is not a professional advice and is subject to change without notice. I assume no responsibility for the consequences of use of such information. IN NO EVENT SHALL I SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM, ARISING OUT OF OR IN CONNECTION WITH THE USE OF THE INFORMATION