MGT-7 Form : Complete Guide for Annual Return

Form MGT-7 is an electronic form for filing annual return by a company to ROC on MCA portal.

All companies registered in India have to file Form MGT-7 every year.  The due date for filing MGT-7 is 60 days from the date of the Annual General Meeting. Also, Any failure or delay in filling the form may attract fine/penalties on the company.

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Information Filed in Form MGT-7

In Form MGT-7, the company has to mention the following information with respect to the financial year for which the form is filed:

  1. Registered office, principal business activities, particulars of its holding, subsidiary and associate companies.
  2. Shares, debentures as well as other securities and shareholding patterns.
  3. Details of indebtedness.
  4. Details of members and debenture-holders along with changes therein since the close of the previous financial year
  5. Promoters, directors, key managerial personnel along with changes therein since the close of the previous financial year.
  6. Meetings of members or a class thereof, Board and its various committees along with attendance details.
  7. Remuneration of directors as well as key managerial personnel.
  8. Penalty or punishment imposed on the company, its directors or officers
  9. Details of compounding of offenses and appeals made against such penalty or punishment;
  10. Matters relating to certification of compliances, disclosures as may be prescribed;
  11. Shareholding pattern of the company; such other matters as required in the form.

To prepare and file form MGT-7, various financial and operational information pertaining to the financial year would be required. Hence, before preparing MGT-7 it is advisable to keep a copy of audited financial statement of the company handy.

Every listed company and unlisted companies having paid-up share capital more than Rs 10 cr or Turnover more than Rs 50 cr shall require to attach a certificate in MGT-8 along with the annual return to be filed with ROC.
Tip
Every listed company and unlisted companies having paid-up share capital more than Rs 10 cr or Turnover more than Rs 50 cr shall require to attach a certificate in MGT-8 along with the annual return to be filed with ROC.

Sample Form MGT-7

Sample Form MGT-7
Form MGT-7 for filing annual return by a company.
From here you can directly download Form MGT-7 available on MCA portal
Download
Form MGT-7 for filing annual return by a company.
From here you can directly download Form MGT-7 available on MCA portal
Download

What is the procedure of Filing Form MGT-7?

Time needed: 5 minutes.

  1. Download Form

    First and foremost, the form must be downloaded from the MCA Portal.

  2. Enter CIN & click on Pre-fill

    Users can avail pre-fill facility which auto-fills the form based on details that have already been collected.

  3. Fill additional details

    Next, the form must be filled carefully, and all the details it asks for must be provided. Please make use of the instruction kit

  4. Attach Documents

    Next, upload the necessary documents and attachments as mentioned above.

  5. Sign & Submit Form

    Before submitting go through the form once again and check for errors. Attach your digital signature to authorize the form, and then click Submit.

  6. Upload Form

    Upload the form and pay the required transaction fees.
    Note down the SRN number which has been generated for future reference

Attachments required to file this form

Following documents must be filed with Form MGT-7:

  • List of shareholders, debenture holders
  • Approval letter for extension of AGM;
  • Copy of MGT-8;
  • Optional Attachment(s), if any

Due Dates for filing Form MGT-7

In case of company other than OPC:

-60 days from AGM date or Calculated due date of AGM whichever is earlier

In case of one person company:

-60 days starting from the expiry of 6 months from the closing date of Financial Year

Fees for filing Form MGT-7

The amount which is to be paid along with form MGT 07 is mentioned in the table below:

Nominal Share Capital Normal Fee Applicable in Rupees
Less than 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
1,00,00,000 or more INR 600

Moreover, For the companies not falling under any of the above-mentioned criteria, the fees along with MGT-7 form is Rs. 200.

Signing of Form MGT-7

Form MGT-7 of a small company or a one-person company must be signed by the Director of a company or a company secretary in practice. Moreover, It must be signed by using a class 2 digital signature.

Consequences for late or non-filing of Annual Return

(a) Late filing – Rs 100 per day as “ penalty “ upto maximum Rs 5 Lac + company and its officers who is in default shall be liable to pay penalty of Rs 50000.

(b) Non-filing – Non Filing for continuous period of three financial years will leads to disqualification of Directors.

Additionally, after the companies amendment act 2019, Delay filing of annual returns will also amount to adjudication by ROC after issuing of Show Cause Notice.

FAQS

If a company is a dormant company, will it require to file MGT-7?

No, If dormant status is taken from ROC then compani is not required to file MGT-7.

If AGM of the company has not been held, how the MGT-7 will be filed?

As per provisions of section 92, if there is no AGM held, then within 60 days will be considered from the date on which the AGM should have been held. The MGT-7 also should be attached with reasons for not holding the AGM.

If company has not filed INC-22A, will it be able to file annual return?

Yes, the company can able to file MGT-7.