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MGT 7 – Overview, Purpose, Format, Due Date & companies act 2013

What Is Form MGT 7? Who has to file the form? What are the consequences of non-filing the form? Format What is the purpose of the e-Form MGT-7? Which are the attachments required to file this form? What is the due date for filing this form? What Is Form MGT 7? MGT-7 is an electronic form provided by the Ministry of Corporate affairs to all the corporates in order to fill their annual return details. This e-form is maintained by the Registrar of Companies Tandoor Manufacturer via electronic mode and on the basis of the statement of correctness given by the company. Who has to file the form? All companies, whether public or private which are registered in India must file the Form MGT-7 every year. A company files the Form MGT-7 for its annual return. What are the consequences of non-filing the form? The  penalty for not filing an annual return  has been remarkably increased in 2018 to  Rs. 100  (Rupees Hundred) per day of default. Hence, it should be ensured that
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MCA clarifies on e-filing of MGT-14

Subsequent to this clarification, Corporate can proceed with any school of thought and stay assured of the form MGT-14 getting approved. The Ministry of Corporate Affairs (MCA) recently issued clarifications on compliance filings regarding resolutions and agreements for companies. There had been many confusions stemming from the new Companies Act which was passed in 2013. Since the new government took over, the MCA has been issuing various Circulars, notifications and removal of difficulty orders to the 2013 law. The latest one being the decision to approve e-Form MGT-14 through Straight Through Process (STP) mode, except in case of certain matters, in order to ensure timely disposal of e-Forms. MCA vide General Circular No 28/2014 dated 9 July 2014 issued a clarification that MGT-14 filed for purposes specified under Section 117 of the Tandoor Manufacturer Companies Act, 2013 (Act, 2013) will be processed and taken on record using the STP mode with effect from 21 July 2014. Howev
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Form MGT-14 E form | Filing of agreement and resolutions with RoC

Registrar of Company (“RoC”) is a body governing companies and is liable to keep all data and information related to the companies. Accordingly, every company is required to inform Registrar of Company (“RoC”) about major actions taken by the company either through the passing of any resolutions (at Board meeting or Member’s meeting) or by entering into any agreement. To comply with same, Section 117 of the Companies Act, 2013 (“The Act”) contains provisions which require companies to file various agreement or resolutions (passed at Board Meeting/Shareholder’s Meeting) with RoC. Table of Content  [ hide ] 1. Filing requirement of Section 117 1.1 *Meaning of Explanatory statement 2. Resolutions or Agreement to be filed u/s 117 3. Manner of Filing of Resolution or Agreement with RoC (Section 117 of the Act read with Rule 24 of The Companies (Management and Administration) Rules, 2014) 4. Documents to be filed along with MGT-14 5. Major Contents of form MGT-14 6. Lega
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Requirement & Applicability of eForm MGT-14 Under Companies Act, 2013

[List of Resolutions for which MGT-14 are required to be filed] [Pursuant to section 94(1), 117(1) of The Companies Act, agreements to the registrar  2013 and section 192 of The Companies Act, 1956 and rules made thereunder]   (Filing of Resolution(s), Agreement, Postal ballot resolution under section 110 and proposed resolution under section 94(1) to the Registrar.   Mentioned below are the Resolution(s) for which MGT-14 is required to be filed with ROC. Special Resolution Board Resolution Ordinary Resolution In above-mentioned Resolution(s), if a company passes any business-relevant matters it shall be filed with ROC within 30 days of passing the Resolution. REGARDING FORM MGT 14 W.R.T UNDER SECTION 117, DO REFER RULE 24 OF COMPANIES (MANAGEMENT AND ADMINISTRATION) RULES, 2014   Rule 24: Resolutions and Agreements to be Filed with ROC   Under Section 117(1)  In respect of Matters specified under section (3) together with the explanatory statement under
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Consequences of Filing e-Form MGT-14 After 30 Days

There is confusion regarding Consequences of Filing e-Form MGT-14 After 30 Days which includes- Whether it is required compounding/ Condonation or adjudication and Which authority have to power under the companies  act, 2013  for compounding/ Condonation or adjudication? LEGAL BACKGROUND: As per Section 117, a copy of every resolution or any agreement, in respect of matters specified in sub-section (3) shall be filed with the Registrar within  THIRTY DAYS  of the passing or making thereof in such manner and with such fees as may be prescribed. PENALTY:   If any company fails to file the resolution or the agreement under subsection (1) before the expiry of the period specified therein, SUCH COMPANY  shall be liable to a penalty of  one lakh rupees  and in case of continuing failure, with a further penalty of  five hundred rupees for each da y after the first during which such failure continues, subject to a maximum of twenty-five lakh rupees and EVERY OFFICER OF THE COMPANY 
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List of Resolution for which MGT-14 requires to be filed

We have listed Resolutions in 3 Categories, for which Form MGT-14 is required to be filed with ROC- 1. Board Resolutions – Annexure A 2. Special Resolutions- Annexure B 3. Ordinary Resolutions- Annexure C The list is updated after considering the recent exemption/relaxation provided to by notifications dated 05.06.2015 to  Government Companies ,  Private Companies,   Nidhi Companies  and  Companies registered under Section 8 of the Companies Act, 2013 (Act). ANNEXURE- A- LIST OF BOARD RESOLUTION REQUIRED TO BE FILE WITH ROC INFORM MGT-14 BY COMPANY OTHER THEN “PRIVATE LIMITED COMPANY” S. No. List Of Board Resolution Required To Be Filed With Roc In Form  MGT-14 A. To issue securities, including debentures, whether in or outside India. (In case of shares issue of security means issue of Letter of Offer). B. To Borrow Monies. (Borrow Money from any sources including Director) C. To invest the funds of the Company. (Also follow provisions of Section 186) D. To
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