AMENDMENTS TO ANNUAL RETURN UNDER COMPANIES ACT – Eshwars
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AMENDMENTS TO ANNUAL RETURN UNDER COMPANIES ACT

Authored by Praveen Pandian

Brief Background on Annual Return under Companies Act, 2013:

An annual return is a yearly return to be filed by all the companies with the Registrar of Companies, certifying the compliances with the provisions of companies act and in which the companies are required to make detailed disclosures such as details of shareholders and directors and the changes in them during the financial year, the dates of Board and general meetings and attendance of directors and shareholders and various other disclosures.

This annual return is required to be filed with the Registrar of Companies in e-Form MGT-7, within a period of sixty days from the conclusion of annual general meeting or sixty days from which such annual general meeting should have been held.

Amendments with respect to annual return:

The Ministry of Corporate Affairs on 5th March 2021, has notified certain amendments (“Amendment”) in provisions relating to annual return the brief of which is provided in the below table:

S. No. Particulars Prior to Amendment Post Amendment

 

1 Requirement of filing annual return in form MGT-7 All companies including Small companies and one person company were required to file annual return in form MGT-7 Small companies and one person company are required to file annual return in MGT- 7A

 

Other Companies will continue to file annual return in form MGT-7

2 Extract of annual return on Board’s report An extract of annual return in form MGT-9 was required to be provided in Board’s report, in case of Companies not having a website. This requirement is done away with
3 Disclosure on indebtedness of the Company All companies were required to disclose the details of indebtedness in form MGT-7 This requirement is done away with.

Effective date:

The changes prescribed above are to be incorporated while filing annual return in Form MGT-7 or MGT-7A as the case may be for the financial year 2020-21 onwards.

Reference:

  1. http://www.mca.gov.in/Ministry/pdf/CommencementNotification_11032021.pdf
  2. http://www.mca.gov.in/Ministry/pdf/CompaniesMgmtAdminAmndtRules_11032021.pdf

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