The Companies Act, 2013 - UPDATE ANNUAL RETURN UNDER COMPANIES ACT 2013. I. Every company shall prepare its annual return in Form No. MGT.7. and signed by director of company and the company secretary, or where there is no company secretary, by a company secretary in practice.(only applicable on companies with specified share capital.) II. In relation One Person Company and small company, the annual return shall be signed by the director(s) of the company. III. The annual return filed by certain class of companies shall be certified by a Company Secretary in practice in Form No. MGT.8. IV.EXTRACT OF ANNUAL RETURN. The extract of the annual return to be attached with the Board’s Report shall be in Form No. MGT.9. V. Every company shall file with the Registrar a copy of the annual return, within sixty days from the date on which the annual general meeting is held along with requisite fee. VI. PENALTY (i) If a company fails to file its annual return with the registrar within 60 days and before the expiry of period of 270 days with additional fee, the company shall be punishable with fine of Rs.50,000 which may extend to Rs.5,00,000 and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to 6 months or with fine of Rs.50,000 which may extend to Rs.5,00,000, or with both. (ii)If a company secretary in practice certifies the annual return otherwise than in conformity with the requirements, he shall be punishable with fine of Rs.50,000 which may extend to Rs.5,00,000. Source: As per MCA notified Chapter VII rules.
Posted on: Sun, 04 May 2014 04:30:00 +0000
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