A registered company needs to file an annual return every year with ROC. This return contains the basic information related to company, its shareholders, directors etc. as on the last day of the financial year i.e 31st March . It is mandatory compliance for all registered companies to file the annual return in Form MGT-7.
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.
Who has to file the form?
- All companies, whether public or private which are registered in India must file the Form MGT-7 every year.
- One person company (OPC) introduced in the Finance Act 2021 are also mandatorily required to file the annual return in Form MGT-7.
- A company files the Form MGT-7 for its annual return.
What are the consequences of non-filing the form?
The penalty for not filing an annual return has been remarkably increased in 2018 to Rs. 100 (Rupees Hundred) per day of default. Hence, it should be ensured that the annual return in this form is filed before the due date.
The form can be downloaded from here under “Annual filing e-forms” category of the MCA portal.
What is the purpose of the e-Form MGT-7?
Every company shall prepare an annual
return in the form MGT-7 containing the particulars as they stood on the
close of the financial year. These details include details regarding:
- The registered office, principal business activities, particulars of its holding, subsidiary and associate companies;
- The shares, debentures, other securities and shareholding pattern of the company;
- Indebtedness of the company;
- The members and debenture-holders along with alterations connected to them since the end of the previous financial year;
promoters, directors, key managerial personnel along with alterations
connected to them since the close of the previous financial year;
- Meetings of members or a class thereof, Board and its various committees along with attendance details;
- Remuneration of directors and key managerial personnel;
or punishment imposed on the company, its directors or officers and
details of compounding of offences and appeals made against such penalty
- The matters relating to certification of compliances and disclosures as may be prescribed;
- Its Shareholding pattern; and
- Such other matters as required in the form.
Which are the attachments required to file this form?
This e-form can be filled by attaching
the scanned copy of documents under the attachments head. This is at the
end of the form. The attachments required include:
- List of shareholders, debenture holders
- Approval letter for extension of AGM;
- Copy of MGT-8;
- Optional Attachment(s), if any
What is the due date of filing this form?
- Form MGT-7 is to be filed within 60 days from the date of Annual General Meeting of the company.
- The due
date for regulating annual general meeting is on or before the 30th day
of September following the close of every financial year.
- Therefore, the last date for filing form MGT-7 is generally 29th of November every year.
Frequently Asked Questions
My company is a small company, do we still have to file MGT-1?
Yes, MGT-7 is to be filed by even small companies as per section 92.
We have a private limited company , however we don’t carry any business in it since years. Do we still need to file annual return in Form MGT 7?
MGT-7 is required to filed till the status of the company is ‘active ‘. Once you obtain a ‘dormant status’ then you need not file.
My company has not filed annual return for last 2 years, can we file for both the years?
Yes, you can file for both the years by making payment of additional fees.
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