Purpose of Form MGT-8? Plz. reply
0
0
Answer Now
Comment
Report
3
Answers
The annual return, filed by a listed company or, by a company having such paid-up capital of Rs.10 Crores or more OR turnover of Rs.50 Crores or more shall be certified by a PCS in Form No. MGT-8 stating that the annual return discloses the facts correctly and adequately and that the company has complied with all the provisions of this Act.
Important Note โ Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures โ online & in Pen Drive/ DVD โ at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below โ
For any questions Request A Call Back
The annual return, filed by a listed company or a company having paid-up share capital of ten crore rupees or more or turnover of fifty crore rupees or more, shall be certified by a Company Secretary in practice and the certificate shall be in Form No. MGT.8.
Hello Priya,
This is the answer of your query.
> **Certification of Annual Return**
As per section 92(2) of the Companies Act, 2013 read with rule 11(2) of the Companies (Management and Administration) Rules, 2014, the Annual Return of some companies shall be certified by a PCS in Form MGT-8. The Companies which are required to get certificate in Form MGT-8 are as follows:-
**โข Every listed company
โข Company having a paid up share capital of Rs. 10crore or more
โข Company having turnover of Rs. 50 Crores or more**
> **Purpose of form**
1. PCS has to certify the AR prepared in MGT 7 by way of separate certificate in form MGT 8
2. Stating that the annual return discloses the facts relating to a company correctly and adequately
3. That the company has complied with ALL the provisions of the Companies Act
> **Penalty for wrong certification by PCS**
Fine which shall not be less than **Rs. 50,000** but which may extend to **Rs. 5 lac**.