ANNUAL RETURN UNDER SECTION 92 OF COMPANIES ACT 2013 & FORM MGT 7

ANNUAL RETURN UNDER SECTION 92 OF COMPANIES ACT 2013 & FORM MGT 7

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Hey guys earlier we have posted regarding the Key Points to be remember for Annual Filing 2015 to ROC and today in continuation of the same we are sharing Annual Return under Section 92 of Companies act 2013 & Form MGT 7.
According to the above mentioned section every company has to prepare and file Annual Return under Section 92 of Companies act 2013 in the Form MGT – 7
(Earlier form 20B used to be annual return form) updated up to 30 th September 2015 having the details as required in the form for the relevant financial year .
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The following information shall be required to prepare Annual Return under Section 92 of Companies act 2013 in Form MGT – 7:-
1. Basic information regarding Company such as
  • Its registered office address
  • Main business activities (Principal)
  • Its holding – Subsidiary companies
  • PAN (Inserted from 4th September 2015)
2. Remuneration/ salary of KMP & directors
3. Indebtness
4. Shareholding pattern
5. Shares, debentures and other securities
6. Punishment or penalty imposed on any of the director, officer or itself on the company.
7. Other matters as may be required/prescribed.
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What is the Last of filing Annual Return under Section 92 of Companies act 2013 without late fee?
The annual return should be filed to ROC within sixty days from the date of Its Annual General Meeting . In case company is not able to have an AGM then 60 days from the last date on which Annual General Meeting should have been held by the company. In such case company has to prescribe in the form that it was unable to hold any AGM and to pay some additional fee.
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Who will sign the Annual Return under Section 92 of Companies act 2013?
It depends upon the nature of the company.
# If company is OPC (One Person Company) or Small company then annual return must be signed by the director or Company Secretary.
# If the company is LISTED or other companies having paid-up share capital of Rs 10 Crore or more or having receipts/turnover of Rs 50 Crores or more in the relevant financial year then annual return must be filed by the Directors plus Company Secretary plus it should be certified by a practicing Company Secretary that company has disclosed all the facts and information correctly and also certified that company has complied with all the relevant provision of the companies act 2013.
# In any other case annual return must be signed by the Director and Company Secretary. In case company has not appointed a CS then it should be signed by a Practicing Company Secretary.
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What are the penalties of non-compliance of Annual Return under Section 92 of Companies act 2013?
In case of non-compliance the following may be the consequences
# For Company – Fine which is minimum Rs. 50,000 & Maximum Rs. 5,00,000
# For Every Officer in Default – Fine which is minimum Rs. 50,000 & Maximum Rs. 5,00,000 or Imprisonment of 6 months or Both.
# For Practicing Company Secretary who wrongly certifies – Fine which is minimum Rs. 50,000 & Maximum Rs. 5,00,000
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