As per Section 92(1) of Companies Act, 2013, every company (including One Person Company(“OPC”) and small company) is required to prepare annual return containing information as on the close of financial year, i.e., 31st March and file such annual return in the form of MGT 7
Such annual return contains information about company related to it’s registered office, principal business activities, particulars of holding & subsidiary company, shareholding pattern, members and debenture-holders alongwith change therein, its indebtedness etc.
As per Rule 11 of Companies (Management and Administration) Rules, 2014, annual return should be prepared in form MGT 7. Such form should be filed with Registrar of Company (“RoC”) within stipulated time period.
Information about e-form MGT 7 is given below in FAQ form
1. What is e-Form MGT-7?
MGT 7 is an annual return of company which contains information about company as at close of the every Financial Year, i.e., 31st March.
2. Who is required to file e-Form MGT-7?
Every company including One person company (OPC) and small companies are mandatory required to file MGT 7 with RoC on annual basis.
3. What is the due date to file this form?
MGT 7 due dates various in different situations which is as follows:
- In case of One Person Company– MGT 7 should be filed within 60 days from expiry of 6 months from end of Financial Year to which MGT 7 pertains. E.g., If financial year of company closes on 31st March, 2019, then 6 months expires on 30th September, 2019. Accordingly, MGT 7 should be filed on or before 29th November, 2019 (30th September, 2019 plus 60 days)
- In case of any other company– MGT-7 should be filed within 60 days from date of Annual General Meeting (“AGM”). If company fails to held AGM during any year then MGT-7 should be filed within 60 days from the date on which AGM should have been held together with reasons of not holding AGM.
4. What is legal fee for filing this form?
Amount of legal fee to be paid alongwith MGT-7 is based on share capital. Following is fee structure based on share capital:
|Share capital||Fee Applicable|
|Less than INR 1,00,000||INR 200|
|1,00,000 to 4,99,999||INR 300|
|5,00,000 to 24,99,999||INR 400|
|25,00,000 to 99,99,999||INR 500|
*In case of company without share capital, MGT 7 filling fee applicable is INR 20
5. What is the late fee for filling MGT 7?
Delay in filing of MGT 7 attracts additional fee. As per Companies (Registration Offices and Fees) Second Amendment Rules 2018, additional fee payable is INR 100 per day after expiry of due date of filing of MGT-7.
6. What are other consequences of non-filing of MGT-7 within stipulated time?
If company fails to file MGT-7 within prescribed time limit then defaulting company and every officer who is in default shall be punishable with penalty of INR 50,000.
However, if default continues then additional penalty of INR 100 per day will also be leviable subject to maximum of INR 5,00,000.
7. What all documents are required to attach while filing form MGT-7?
Following documents are required to attach with MGT-7
- List of shareholders & Debenture holders – It is applicable in case of company having share capital and where “Whether complete list of shareholders, debenture holders has been enclosed as an attachment” is selected as “Yes” while filing form
- Approval letter for extension of AGM, if applicable.
- MGT-8*, if applicable
- Optional Attachment
* MGT-8 is a certificate given by Company Secretary in practice where company is listed or its paid-up share capital is INR 10 Crores or more or Turnover is INR 50 crores or more.
8. Who shall sign MGT-7?
In case of OPC– MGT-7 should be signed by company secretary, or where there is no company secretary, by the director of the company.
In case of other companies- Form should be signed by a director and the company secretary, or where there is no company secretary, by a company secretary in practice.
Please note that if company in practice certifies any Annual Return which is not in line with provisions of companies act then he shall be punishable with fine of minimum of INR 50,000 but not exceeding INR 5,00,000.
9. Where to download MGT 7 format?
To download MGT 7 format click here. Alternatively form is available to download in MCA site.
Read more about all Compliance for companies registered under ROC