Annual return is an Annual /yearly form/return which contains information regarding the company, its shareholders, Directors, KMP, etc. as on 31st March and filed by every company with ROC every year. As per Companies Act – 2013 – Section 92(1) every company is required to file annual return. From the financial year commencing on or after 01.04.2014, MGT 7 is being used in place of 20B / 21A to do filing of annual return. Non-filing of this annual compliance has many ramification and legal interventions.
MGT-7 is an electronic form provided by the Ministry of Corporate affairs to all the corporates in order to fill their annual return details. This e-form is maintained by the Registrar of Companies via electronic mode and on basis of the statement of correctness given by the company. It is a popular form among the companies which are required to file the form as per the norms and regulations of the ministry of corporate affairs.
• Form MGT-7 is to be filed within 60 days from the date of Annual General Meeting of the company.
• The due date for conducting annual general meeting is on or before the 30th day of September following the close of every financial year.
• Hence, the last date for filing of Form MGT 7 is usually 28th of November every year unless extended by MCA.
The contents of annual return form MGT 7 include details of the company’s registered office, principal business activities, information about the company’s holdings and subsidiary firms, shareholding patterns, company’s members, debenture holders, indebtedness, etc.synmac provide you the best MGT-7 FILING in Chennai ,Bangalore & Delhi.
• Late filing – Rs 100 per day as “penalty“ upto maximum Rs 5 Lac + company and its officers who is in default shall be liable to pay penalty of Rs 50000.
• Non-filing – Non Filing for continuous period of three financial years will leads to disqualification of Directors.
• Additionally, after the companies amendment act 2019, Delay filing of annual returns will also amount to adjudication by ROC after issuing of Show Cause Notice.synmac provide you the best MGT-7 FILING in Chennai ,Bangalore & Delhi.
• Late filing – Rs 100 per day as “penalty“ upto maximum Rs 5 Lac + company and its officers who is in default shall be liable to pay penalty of Rs 50000.
• Non-filing – Non Filing for continuous period of three financial years will leads to disqualification of Directors.
• Additionally, after the companies amendment act 2019, Delay filing of annual returns will also amount to adjudication by ROC after issuing of Show Cause Notice.synmac provide you the best MGT-7 FILING in Chennai ,Bangalore & Delhi.
vii. Company with foreign Subscribers
The following documents must be filed with Form MGT-7:
• List of investors, debenture holders
• Approval letter for extension of AGM, if applicable.
• MGT-8 copy if applicable.
• Optional Attachment(s), if any
Optional: MGT-8 is a certificate given by Company Secretary in practice where the company is listed or its paid-up share capital is INR 10 Crores or more or Turnover is INR 50 crores or more.synmac provide you the best MGT-7 FILING in Chennai ,Bangalore & Delhi.
• When OPC is concerned – the signature by the company secretary on Form MGT 7 is required and if there is no company secretary for the firm then the signature is required by the director of the company.
• When companies other than OPC are concerned – Form MGT 7 needs signatures from the director and the company secretary of the firm, if there is no all-time company secretary then signature is required by the company secretary in practice.
• To be noted: If any company found alleged of filing Annual Return which is contradicting the provisions of the ‘Companies Act’ then the company has to pay the fine of minimum Rs. 50,000 but not exceeding Rs. 5,00,000.synmac provide you the best MGT-7 FILING in Chennai ,Bangalore & Delhi.
Step 1 – Download MGT– 7
Step 2 – Fill the form
Save the form properly. Read instruction kit and start filling the form –
First of all mention CIN no. of the company and use pre fill facility. Up to point no. VI will be filled automatically.
As you will click on no. of business activity, it will ask you to fill the turnover of the business and that column will appear before you. For filling other details at this point, use instruction kit. At Annexure C table is given which will assist you to fill the information.synmac provide you the best MGT-7 FILING in Chennai ,Bangalore & Delhi.
1. Give details of particulars of holding, subsidiary, joint ventures and associate companies
2. Give details of share capital, debentures and other securities of the company
3. Turnover and net worth of the company (as defined in the Companies Act, 2013 – You have already filled turnover, now fill other information
4. Share holding pattern – promoters & public
5. Number of promoters, members, debenture holders details
6. Details of directors and key managerial personnel
7. Meetings of members/class of members/board/committees of the board of
8. Remuneration of directors and key managerial personnel
9. Matters related to certification of compliances and disclosures
10.Penalty and punishment – details thereof
11.Whether complete list of shareholders, debenture holders has been enclosed as an attachment
12.Compliance of sub-section (2) of section 92, in case of listed companies
13.After all the above information declaration by director and certification by company secretary is required.
Step 3 – Do Prescrutiny
Step 4 – Upload the Form.synmac provide you the best MGT-7 FILING in Chennai ,Bangalore & Delhi.
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