Form MGT-7 – Annual Return
Registered company have to file Form MGT-7 . The due date of filing MGT-7 is 60 days from date of AGM. The due date for conducting AGM is on or before the 30th September20xx following end of a financial year. The due date for filing form MGT-7 is the 29th of November 20xx.
Penalty for Not Filing MGT-7
Penalty for not filing annual return has been significantly increased in 2018 to Rs.100 per day of any default. Please ensure all MCA annual return or income tax return is filed before due date at the earliest.
Information Filed in Form MGT-7
In Form MGT-7, the company would be required to declare the following information pertaining to the financial year for which the form is filed:
- Registered office, principal business activities , particulars of its holding, subsidiary and associate companies.
- Shares, debentures and other securities and shareholding pattern.
- Details of indebtedness.
- Details of members and debenture-holders along with changes therein since the end of the previous financial year
- Promoters, directors, key managerial personnel along with changes therein since the end of the previous financial year.
- Details of Meetings of members or a class thereof, Board and its various committees along with attendance details.
- Remuneration of directors and key managerial personnel.
- Penalty or punishment imposed on the company, its directors or officers and details of compounding of offences and appeals made against such penalty or punishment;
- Matters relating to certification of compliances, disclosures as may be prescribed;
- Shareholding pattern of the company; and such other matters as required in the form.
While preparing and filing form MGT-7, various financial and operational information pertaining to the financial year must be required. Company would be required to file a copy of audited financial statement while preparing MGT-7
Documents Filed in Form MGT-7
The following documents are required to be filed with Form MGT-7:
- List of shareholders, debenture holders in case of company having share capital.
- Approval letter for extension of AGM if AGM due date was extended.
- Copy of MGT-8 in case of a listed company or a company having paid up share capital of Ten Crore rupees or more or turnover of Fifty Crore rupees or more.
Form MGT-7 of a small company or a one person company must be signed by the Director of a company using digital signature or a company secretary in practice.
Section 92 of Companies Act
Section 92(1) of the Companies Act governs the filing of MGT-7 or company annual return.
The annual return is required to be signed by the company secretary, or where there is no company secretary, by the director of the company in relation to One Person Company and small company