Compliances of Annual Return under Companies Act 2013. As you all know that the date of filing form MGT-7  there has been various questions regarding the implications of the form on company. This article will clarify all your doubts regarding the same. This articles consists of the formalities that need to be furnished under this section such as particulars of the Annual Return, Penalties, Required to whom, comparison with the previous Companies Act, Relevant Sections under which notified. Now you can scroll down below n check more details regarding “Compliances of Annual Return under Companies Act 2013”

Compliances of Annual Return under Companies Act 2013

Required to be Signed by ?

In case of Companies except One Person Company, the Annual Return needs to be filed and signed by Company Secretary or director and in case of no Company Secretary, needs to be signed by PCS, and in case of One Person Company, the annual return needs to be signed by Company Secretary and in case of no Company Secretary, needs to be signed by director.

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Certification in certain cases :

In case of companies having paid up share capital of Rs. 5 crores or more and turnover of Rs.  25 crores or more or any listed company needs to certify its annual return with PCS. In this PCS has to certify that all the facts and the figures and the disclosures mad by the company are been true and nothing have been hidden.

Due Date for filing of Annual Return:

There may be 2 cases where the annual return has to be filed within limits, they are :

  1. In case of AGM held – If the AGM has been held by the company, then needs to file the annual return within 60 days from the date of AGM.
  2. In case of No AGM held – If no AGM have been held than the return should be filed within 60 days from the date on which the AGM should have been held specifying the reason for not holding AGM.

Must Read – Definitions of Companies under Companies Act, 2013


Particulars of Annual Return:

The Annual return would include the following things:

  1. The primary details of the business such as its registered office, business activities conducted, etc.
  2. The indebtness of the company in other companies or with suppliers.
  3. The shareholding pattern.
  4. Remuneration given to the Directors and whether it was according to the act or not.
  5. Details of the Directors and the promoters of the company.
  6. Penalties or any Punishments given to the company or officer in charge or any of the Directors or Promoters or Key managerial person in charge.
  7. Any non disclosures in the previous years.
  8. Shares held by the Foreign Institutional Investors and also their personal details such as address and country of incorporation.
  9. Meetings of the class of the members held, board meetings held, committee meetings held, etc.
  10. Other matters as may be prescribed.

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Penalty Clause :

In case of non compliance of the same, company will be liable to pay a fine of Rs. 50,000 to Rs. 5,00,000. In case of officer being found guilty, than he may be liable for Imprisonment of 6 months or fine of Rs. 25,000 which may go up to Rs. 5,00,000 or both.

Amendments in Comparison with previous Companies Act:

  1. In previous Act, the Sections in which the Annual return was covered was from Section 159 to Section 162, while in new act, it is covered in pone section only named Section 92.
  2. In previous Act, the certification by PCS was required only in case of listed companies while now it is also required in case of unlisted companies with some criterias.
  3. Extract of Annual return also needs to be filed according to the new act which was not there in previous act.

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