Important Update

What is Form MGT 7?

• Form MGT-7 must be filed by all companies registered in India every year. 
• It is an electronic form provided by the Ministry of Affairs to all the corporations in order to fill their annual return details

Due date of filing the Form MGT 7

• The due date for filing MGT-7 is 60 days from the date of Annual General Meeting. 
• The due date for conducting annual general meeting is on or before the 30th September following the end of a financial year. 
• Hence, the due date for filing form MGT-7 is normally the 28th of November.

Penalty for not filing the MGT 7

• The penalty for not filing the annual report 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.

From where the form can be downloaded?

The Form MGT 7 can be downloaded from the MCA portal from annual E-filing category.

Particulars to be filled in the Form MGT 7

Following particulars of details will have to be filled in:

• The registered office, principal business activities, particulars of its holding, subsidiary and associate companies;
• The shares, debentures and 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;
• The 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;
• 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;
• 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.

Attachments to be enclosed with the Form MGT 7

 With the Form MGT 7, following documents would be needed to be attached:

• List of shareholders, debenture holders
• Approval letter for extension of AGM;
• Copy of MGT-8;
• Optional Attachment(s), if any

It is mandatory for all the companies including Private Limited Companies, One Person Companies to file an Annual report in the form MGT 7 And AOC 4. Failing at which might cause you the penalty as per the provisions. 

Related Read: All about Form AOC 4