MCA clarification regarding the migration of Forms GNL-2 and MGT-14

Introduction

The Ministry of Corporate Affairs (MCA) has issued a Circular notifying the filing of Forms GNL-2 (filing of prospectus-related documents) and MGT-14 (filing of Resolutions relating to prospectus-related documents) owing to the migration from V2 Version to V3 Version in Portal from January 7th, 2023 to January 22nd, 2023.

Suggested Read – https://ebizfiling.com/blog/company-forms-will-be-released-by-mca-on-9th-and-23rd-january-2023/

Introduction to the Form GNL-2

This single form is used for filing various documents, including copies of the prospectus, information memorandum, private placement offer letter (PAS-4), and the company’s record of the private placement (PAS-5), a company’s filing to the ROC indicating the director’s disqualification.

Introduction to the Form MGT-14

MGT 14 is filed for matters related to change of name, change of object, resolution for further issue of capital, and conversion of organizations. According to sections 94(1) and 117(1) of the Companies Act 2013 and the rules established under the Sections, a company must file MGT-14 with the Registrar of Companies (RoC). Private businesses are exempt from submitting Board Resolutions.

What is the recent MCA clarification regarding the migration of Forms GNL-2 and MGT-14?

The Ministry has decided that businesses planning to file Forms GNL-2 (for the filing of documents related to a prospectus) and MGT-14 (for the filing of resolutions related to documents related to a prospectus) on the MCA-21 Portal between January 7 and January 22, 2023, may submit such forms in physical form, duly signed by the parties involved in accordance with the requirements of the relevant forms. Company e-Filings on the V2 portal will be disabled from January 7th, 2023 12:00 AM to January 22nd, 2023 11:59 PM for 46 forms that are scheduled to be released on January 23rd, 2023.

FAQs on Filing Forms GNL-2 and MGT-14

1. What is the MCA V2 Portal, exactly?

The MCA portal, Version 2, which was used to file different forms relating to companies and LLPs is known as the V2 portal. The LLP Services have been moved from the V2 portal to the V3 portal.

2. What is the MCA V3 Portal?

The MCA is the procedure used to upgrade the current portal from Version 2 to Version 3. V3 is a n improved version of the V2 site which is only available to LLPs. For LLPs, the V3 site currently permits the following:

• User Registration & Login

• Filing of DSC Association

• Filing of DSC Association

• On March 8, 2022, the above services on the V3 portal were launched.

3. Where should I submit my LLP and company forms?

LLP forms have been moved to Version 3 of the portal, however, Company forms are still in Version 2. To ensure a seamless transition of the portal, this migration is being done in stages.

4. What are the “key” changes between V2 and V3?

• Version 2 forms must be completed and uploaded to the site, whereas Version 3 forms must be completed online.

• This makes it convenient for users, who can save forms that are only partially completed.

• In Version 2, there was simply a My Workspace that had a list of Ministry of Corporate Affairs alerts and circulars.

• There is a customized “My Application” functionality in Version 3.

• It enables users to view any forms they have submitted, together with information on how they are being processed, such as if they need to pay fees or submit them again.

• In contrast to V2, when the user id was required for login, V3 requires the user’s email address.

• An OTP will be issued to your email and mobile device when a business user has logged into the Ministry of Corporate Affairs system to verify the user’s identity.

   

5. Who is a Business User in V3?

Any of the following can access and submit all forms as a business user. Between V2 and V3, a business user’s name or role remains unchanged. You can pick the category that best fits your needs.

• Company/Limited Liability Partnership (LLP)

• Director/Designated Partner

• Manager/Secretary/Authorized Representative

• Officer in Default

• Professional

   

6. Do I need to re-register if I am an existing user?

No, you don’t need to register again if you already have an account with V2. In fact, the system will recognize the mail ID you provide as a duplicate ID and prevent further registration. However, if you try to register using a new email address that wasn’t in V2, a new user will be created for you. It is best to prevent such registrations in V3 when a user is already registered in V2.

Source – https://www.ebizfiling.com/bin/dms/getdocument=open