Annual return of a company
The annual return of a company is Form MGT-7, filed with the Registrar within 60 days of the annual general meeting. Company Suggestion prepares MGT-7, or MGT-7A where that shorter form applies.
What is Form MGT-7?
Section 92 of the Companies Act, 2013 requires every company to file an annual return. MGT-7 is that return for a company that is not a one person company and not a small company.
The return states the registered office, the principal business activities, the holdings of members, the directors and key managerial personnel, meetings, and penalties, among the other particulars the section lists.
Who files MGT-7A instead?
Two kinds of company file MGT-7A.
- A one person company.
- A small company: paid-up capital up to ₹4 crore and turnover up to ₹40 crore, and not a section 8 company, holding company or subsidiary.
The due dates sit in the private limited company calendar and the OPC calendar.
Which details does the return contain?
The working file has five lists.
- Shareholders and the shares each holds, as on the year end
- Directors and key managerial personnel, and changes during the year
- The dates of board meetings and of the annual general meeting
- Indebtedness and share capital
- Penalties and compounding, if any were imposed
What are the filing steps?
Company Suggestion files the return in four steps.
- The shareholder and director lists are taken as on the financial year end.
- The annual general meeting date is confirmed. An OPC uses the deemed adoption date instead.
- MGT-7 or MGT-7A is prepared and signed.
- The form is filed within 60 days of the meeting, or of the OPC’s deemed adoption.
Frequently asked questions
4 questions cover the rules that decide this registration.
When is MGT-7 due?
Within 60 days of the annual general meeting. If no meeting was held, within 60 days of the last date on which it should have been held.
Who signs MGT-7?
A director signs it, and the company secretary also signs it when one is appointed. A company secretary in practice certifies the return in MGT-8 when paid-up capital is ₹10 crore or more, or turnover is ₹50 crore or more.
Is MGT-7 the same as AOC-4?
No. AOC-4 files the financial statements. MGT-7 files the annual return of members, directors and other particulars in section 92.
Does an LLP file MGT-7?
No. An LLP files Form 11 as its annual return, by 30 May.