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Annual Return section 92 of Companies Act, 2013

Annual Return section 92 of Companies Act, 2013

According to section 92 of Companies Act, 2013 every Company shall prepare Annual Return in Form MGT- 7 updated w.e.f. 30.09.2015 containing the particulars as on the close of the Financial Year. Annual return shall contain the following information:

  1. Its registered office, PAN number incerted by Companies Management and Administration (Amendment) Rules 2014 dated 04 September 2015, principal business activities, particulars of holding, subsidiary and associate companies
  2. Its shares, debentures and other securities and shareholding pattern;
  3. Its promoters, directors, KMP along with the changes therein since the close of the previous financial year;
  4. Remuneration of Directors and KMP;
  5. Its indebtedness;
  6. Penalty or punishment imposed on the Company, its directors or officers;
  7. Such other matters as may be prescribed.
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Important points

  1. Filing with ROC : within 60 days from the date of AGM, in case no AGM is held in the year then within 60 days from the date on which AGM should have been held with a statement specifying not holding AGM and with additional fee.
  2. Information from the closure of previous financial year till the closure of current financial year is only include in annual return and not as on the date of AGM.
  3. Signing of Annual Return:

*In case of OPC and small company annual return is to be signed by Company Secretary or Director.

* In case of Listed companies and other companies having paid up share capital of Rs. 10 crore or more or having turnover of Rs. 50 crore or more shall be signed by Company Secretary and Director and shall be certified by Practicing Company Secretary in separate form MGT 8 declaring that the annual return discloses all the facts correctly and certifying that the company has complied with all the provisions of Companies Act, 2013.

* In case of other companies annual return is to be signed by Company Secretary and Director in case there is no CS then by Practicing Company Secretary.

4. Penalty: In case of non compliance of provisions of section 92 the company shall be punishable with fine which shall not be less than Rs. 50000/- but which may extend to Rs. 5 lacs.

Every officer in default shall be punishable with imprisonment for a term which may extend to 6 months or with fine which shall not be less than Rs. 50000/- but which may extend to Rs. 5 lacs or both.

If Practicing Company Secretary certify Annual Return which is not in conformity with the provisions of Companies Act, 2013 he shall be punishable with fine which shall not be less than Rs. 50000/- but which may extend to Rs. 5 lacs.

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