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Understanding Forms MGT-7 & 7A

Published On: Nov 24, 2022 • Last Updated: Dec 2, 2022 • 4.5 min read •

Introduction

Every company registered in India, be it a private limited company, a public company, or an OPC, is required to file Annual returns; the forms AOC-4 and MGT-7 are used to file these returns with the MCA. In this article, we will be discussing the form MGT-7 in-depth.

Table of Contents
  • What are Forms MGT-7 & 7A?
  • What is the due date for the form?
  • What is the purpose of Forms MGT-7 and MGT-7A?
  • Where is the form available?
  • Details to be filled in the forms MGT-7 & MGT-7A
  • Documents needed for forms MGT-7 & MGT-7A
  • Penalty for non/late filing
  • Frequently asked questions

    • What are Forms MGT-7 & 7A?

    Companies Act, 2013, requires every company to file annual returns; the forms MGT-7 and MGT-7A are filed by companies as a part of their annual compliance requirements. These forms reflect every company’s specific information as it stands at the close of the financial year. The kind of information contained in the forms MGT-7 and MGT-7A are: information of a company relating to its share capital, indebtedness, directors, shareholders, changes in directorships/ownership, etcetera. 

    What is the due date for the form?

    Generally, the due date for filing the forms is the 29th of November of every year. This date is calculated on the basis that MGT-7 and MGT-7A need to be filed within 60 days from the annual general meeting (AGM) of a company, and the due date for conducting an AGM for companies is on or before 30th September of every year.

    What is the purpose of Forms MGT-7 and MGT-7A?

    These forms let the MCA stay updated about the annual returns of every company registered in India. It lets MCA stay in the loop about the financial wellness of the companies and if there are any major changes made within it. 

    Where is the form available?

    MGT- 7 form is available online for download on the Company Forms Download page on the MCA website. 

    Details to be filled in the forms MGT-7 & MGT-7A

    The MGT-7 & MGT-7A  forms require the following details:

    • Details of the company’s registered office, its principal business activities, and its holding, subsidiary, and associate companies
    • All the information regarding the company’s shareholding pattern and securities, such as its shares, debentures, etcetera.
    • Particulars of the company’s Indebtedness.
    • Information regarding the members and debenture-holders of the company and of any alterations connected to them that have occurred since the end of the previous financial year.
    • Information regarding the promoters, directors, and key managerial personnel of the company and of any alterations connected to them that have occurred since the end of the previous financial year.
    • Details of the various meetings of the members, a certain class, the board, and its committees, that have taken place in the financial year. The details should also include attendance details of the meetings.
    • The remuneration paid by the company to the directors and key managerial personnel.
    • Details of any penalty or punishment that was/is imposed on the company, its directors, or officers in the current financial year, including details of any compounding of offences and appeals against the penalty.
    • Information regarding matters that are related to certification of compliance and all disclosures as prescribed by law.
    • Any other matter as specified in the form.
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    Documents needed for forms MGT-7 & MGT-7A

    The following documents need to be attached with the forms MGT-7 & MGT-7A:

    • A list of all the shareholders of the company as on the financial year’s end.
    • A list of all the debenture holders of the company.
    • A Copy of form MGT-8,  if applicable
    • An approval letter allowing for extension of AGM case the AGM work held past the due date (30th September).
    • Any other optional attachment as and if required by the form.

    Penalty for non/late filing

    Non-filing or late filing of the forms carries a penalty of INR 100 per day with no upper limit. Additionally, the MCA can also charge some other penalties at its discretion.

    Frequently asked questions

    What is the difference between forms MGT-7 and MGT-7A?

    While both the forms are to be filed with the MCA, and both provide the details of the annual returns of companies, MGT-7A is made specifically for One Person Companies (OPC) and small companies.

    Which companies are required to file annual returns?

    All companies registered in India are required to file annual returns with the MCA. For most companies, annual returns are to be submitted via form MGT-7. For small companies and OPCs, annual returns are to be submitted via form MGT-7A.

    Does a private limited company have to file MGT-7 even if it’s not doing any business?

    As long as the company has an active status, it is required to file form MGT-7 every year. To no longer have to do this, you are required to get dormant status for your company from the Registrar of Companies (ROC).

    If my company is a listed company, does it still have to submit the form MGT-7, or is there any other form that is required?

    Listed companies also need to file form MGT-7; however, they also need their annual returns to be certified by a practising Company Secretary in form MGT-8.

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    Monjima Ghosh
    About the Author

    Monjima Ghosh

    Monjima is a lawyer and a professional content writer at LegalWiz.in. She has a keen interest in Legal technology & Legal design, and believes that content makes the world go round.

    2 Comments

    1. S. Muthukishnan 16/10/2023 at 8:52 pm - Reply

      Should the list of shareholders attached to Form MGT-7 be validated in MCA website or simply
      signed by a director of the list will do?

      • Monjima Ghosh 31/10/2023 at 7:50 pm - Reply

        Hi, validation is necessary, in other words, the list of shareholders attached to Form MGT-7 must be validated on the MCA website. This is because Form MGT-7 is a statutory form that must be filed with the Ministry of Corporate Affairs (MCA) in India. The MCA uses the information in Form MGT-7 to maintain a central register of companies and to track changes in company ownership.

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