Rectify Mistake in MGT-7 or AOC-4 Filing

Introduction

MGT-7 and AOC-4 are important forms that companies in India need to file every year with the government. MGT-7 has details about the company’s owners and directors, while AOC-4 shows the company’s financial reports. Sometimes mistakes can happen when filing these forms, and fixing those mistakes is important to keep the company’s records correct and avoid fines.

Objectives

• To fix any mistakes or wrong details that were shared earlier in MGT-7 or AOC-4, so that everything is correct in the company’s records.
• To keep the company’s information up to date with the government, so it always shows the real picture of the business.
• To avoid getting fined or facing legal issues because of incorrect or incomplete information.
• To stay honest and follow the rules of the Companies Act, 2013, which helps build trust with government authorities, investors, and others connected to the company.

Key Features of MGT-7 or AOC-4

• If you make a mistake in MGT-7 or AOC-4, you can correct it by filing a new, corrected version of the same form.
• You can fix mistakes like wrong names of directors, incorrect details of shareholders, financial errors, or incorrect dates.
• When submitting the corrected form, you must clearly explain what was wrong and how you fixed it.
• There is a proper step-by-step process to follow, and it’s important to complete it on time to avoid paying extra charges or penalties.

Benefits of  MGT-7 or AOC-4

• Fixing mistakes in the company’s filings ensures that all official records are accurate and reliable.
• By correcting errors on time, the company can avoid paying fines or facing legal problems.
• Keeping filings updated shows that the company respects the rules and follows the law, improving its reputation.
• Clear records help leaders make better decisions about planning, investments, or growth strategies.

Step-by-Step Procedure to Correct Mistakes in MGT-7 or AOC-4

• Find the Mistake: Check the original MGT-7 or AOC-4 form and identify what was wrong.
• Collect the Right Details: Gather accurate information and proof such as financial reports or board decisions.
• Log in to the MCA Website: Use your registered email ID and password.
• Download the Corrected Form: Choose and download the revised MGT-7 or AOC-4 form.
• Fill in the Form Again: Enter correct details carefully and review everything.
• Attach Proof: Upload supporting documents showing what was wrong and the corrections.
• Submit the Form Online: Submit the revised form and add a note explaining the correction.
• Pay the Required Fee: Complete the payment based on delay and company size.
• Save the Acknowledgement: Download and keep the receipt for future reference.
• Track the Status: Log in later to check the submission status.

Documents Required for MGT-7 or AOC-4

• Copy of the original MGT-7 or AOC-4
• Corrected details with proof such as:
  • Updated financial statements
  • Board resolution
  • Affidavit or explanation letter
  • Authorization letter from the board (if needed)

Fees & Penalties for MGT 7 and AOC 4

• Late Fees for MGT-7: ₹100/day of delay, up to ₹5 lakh.
• Late Fees for AOC-4: ₹1,000/day. Can go up to ₹10 lakh for company, ₹5 lakh for officers.
• Normal Filing Fees: ₹200-₹600 depending on capital.
• Extra Late Fees: For very late filings, penalties can rise to 12 times the normal fee.
• If You Don’t File: Directors may be disqualified, company marked inactive or struck off, or face legal action including jail up to 6 months.

Challenges

• Understanding the correction process can be confusing for beginners.
• Delays in correction lead to higher penalties.
• Gathering proper documents takes time and attention to detail.
• Board or partner approvals may be needed, causing further delay.

Additional Information

Deadlines and Extensions

• MGT-7: within 60 days after AGM, usually by November 29.
• AOC-4: within 30 days after AGM.
• Extension requests must be made before deadline.

Revising vs Cancelling a Form

• MGT-7: File a revised version to fix errors.
• AOC-4: If already approved by RoC, request cancellation before resubmitting.

Risk of Incorrect Certification

• Incorrect certification by CS or CA can lead to a ₹2 lakh fine.
• Always double-check data before submitting.

Use of Technology

• Compliance software can help organize, track, and remind about deadlines.
• Helpful especially for growing businesses to avoid errors and delays.

Conclusion

Fixing mistakes in your MGT-7 or AOC-4 forms is essential. It keeps your company records correct and helps you stay on the right side of the law. When you file revised forms on time with the right information, you can avoid late fees, stay compliant, and protect your company’s reputation. Just follow the steps, keep your documents ready, and if you’re unsure, don’t hesitate to get help from a professional.

Suggested Read :

How to File Form MGT 7 and AOC 4 Online?

Penalties for Non Filing MGT 7 and AOC 4

Due Date Extension for MCA Form AOC 4

What is the Form MGT 7?

Due Dates for Pvt. Ltd. Annual Filing 2025-2026

FAQs