Document
Index

eForm MGT-15 Under Companies Act, 2013

Updated on: Jun 17th, 2024

|

1 min read

As per Section 121 (1) of the Companies Act, 2013 every listed public company has to file MGT 15 (Report on Annual General Meeting) in less than 30 days from the completion of the Annual General Meeting.

Applicability

As provided under Section 121(1) of the Companies Act, 2013 read with Rule 31(2) of the Companies (Management and Administration)Rules 2014; every listed public company shall prepare a report on the annual general meeting. The report shall provide a confirmation that the meeting was convened, held and conducted as per the provisions of the Act and the rules. The copy of the report shall be filed with the Registrar in eForm MGT-15 within 30 days of the conclusion of the annual general meeting along with the prescribed fee.

Requirements of the Report

  • Although the minutes of the general meeting are maintained, this report shall be additionally prepared.
  • The chairman of the meeting shall sign and date the report. In case he is unable to sign it, any two directors of the company and the company secretary shall sign the same. If the company has a managing director, then one of the signatures shall be his.
  • The various details to be stated in the report include: – Day, date, venue and time of the annual general meeting. – Details of the appointment of the chairman. – Details of the attendees of the meeting. – Confirmation of the quorum. – Business transacted at the meeting and the decisions made thereof. – Details of any adjournment/postponement of the meeting. – A fair summary of the proceedings of the meeting. – Confirmation as regards the meeting being called convened, held and conducted as per the provisions of the act, the rules and secretarial standards. – Any other relevant inclusions to the report.
  • The form shall be digitally signed, and the DIN/PAN/membership number shall be furnished.

Penalties

The following shall be the penalties under Section 121 of the Act:

DefaulterPenalty
CompanyRs 1 lakh Continuing failure: Rs 500 for each day of default capped at Rs 5 lakh
Every officer in defaultMinimum: Rs 25,000 Continuing failure: Rs 500 for each day of default capped at Rs 1 lakh

Further, Section 448 of the Act provides that if any person makes a statement that is false though aware that it is false or omits any material fact knowing it to be material in any return/ report/ certificate/ financial statement/prospectus/statement or any other document he will be liable under Section 447 of the Act. Section 449 of the Act, provides for punishment for false evidence which shall be punishable with imprisonment for at least 3 years which may extend to 7 years and with a fine which might go up to Rs 10 lakh.  

Disclaimer: The materials provided herein are solely for information purposes. No attorney-client relationship is created when you access or use the site or the materials. The information presented on this site does not constitute legal or professional advice, and should not be relied upon for such purposes or used as a substitute for legal advice from an attorney licensed in your state.  

Can't get yourself started on taxes?
Get a Cleartax expert to handle all your tax filing start-to-finish
summary-logo

Quick Summary

Listed public companies must file MGT 15 report within 30 days after AGM. Requirements, penalties, and digital signature details are outlined for the report. False statements or evidence may lead to penalties under Sections 448 and 449 of the Companies Act, 2013.

Was this summary helpful?
liked-feedbackliked-feedback

RELATED ARTICLES

Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.

Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.

CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.

Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.

Cleartax is a product by Defmacro Software Pvt. Ltd.

Company PolicyTerms of use

ISO

ISO 27001

Data Center

SSL

SSL Certified Site

128-bit encryption