MGT-7 /7A is an e-Form for filing annual return by a company. It is mandatory for every company registered under the Companies Act, 2013 to file their Annual Return (Form MGT-7/7A) with the Registrar of Companies (ROC) within the due date prescribed.
Who has to file the e-Form MGT-7/ 7A?
Annual Returns are of 2 types i.e.,
i) MGT 7A – MGT 7A is an abridged form of annual return. This form is applicable for
- One Person Company
- Small Companies
ii) MGT 7– MGT 7 needs to be filed by the following companies
- Companies other than small companies
- Public Companies
- A subsidiary or holding company.
- Companies registered under Section 8
- A body corporate or company governed by special act
What is the purpose of the e-Form MGT-7/ 7A?
MGT 7 / 7A contains the following information:
- Registration and other details
- Principal Business Activities of the Company
- Particulars of Associate Companies
- Share Capital, Debentures and other securities of the company
- Turnover and Net worth of the company
- Shareholding Pattern
- Number of Promoters, Debenture Holders
- Meetings of Members
- Remuneration of Directors
- Such other matters as required in the form
What is the Due Date for filing MGT-7/ 7A?
- Form MGT-7/7A 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.
- For AGMs held on 30th September 2023, Due by 28th November every year.
What is the Additional Fee (Penalty) for belated filing of MGT- 7/ 7A?
Non filing of MGT- 7/ 7A or belated filing of MGT-7/ 7A results in huge penalties. The penalty for belated or non-filing of form MGT- 7/ 7A w.e.f 30/06/2018 is Rs 100 per day in default.
What is the consequences for non filing of form MGT- 7/ 7A?
The consequences for non-filing of Form MGT 7 / 7A needs to be borne by both company and directors
- Company: Rs 50000 but it might extend upto Rs 5 lakhs
- Directors/Responsible Persons: Rs 50000 but it might extend upto Rs 5 lakhs
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Note: This Post was last updated on November 23, 2024
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