Annual Return - Online Process
Annual Returns should be authenticated by the director and company secretary. Or in case the absence of company secretory, Annual Return should be authenticated by a company secretary in practice.
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Annual Return
Every company shall prepare Annual Return as per the applicable provisions of the Companies Act,2013. Annual Return filed in Form MGT-7. It include details like Registered office, Principle business activity, Shares, Holding, Subsidiary, Remuneration, Meeting, shareholding pattern etc. MGT-7 form also require to file by small companies. If Annual Return not filed on time then company as well as officer in default liable for the penal provision.
Contents of Annual Return :
A.Registration and Other Details:
- Corporate identification number (CIN) of the company.
- Global Location Number of the company.
- PAN of the company.
- Name of the company
- Registered Office of the company.
- Type of the company, category of the company, sub-category of the company.
- Having share capital or not.
- Shares listed in RSE or not.
B.Principal business activity of the company:
- The number of business activity.
- Group code of main activity.
- Description of the main activity.
- Business code.
- Description of business activity.
- Turnover of the company.
C. Details of Holding, Subsidiary, Associate including Joint Venture of the company.
Each of the such companies name along with following details must state in annual return:
- Corporate Identification Number
- Percentage of holding in each company
- Nature of relationship
D.Details regarding the transfer of shares/debentures since closure of the last financial year:
- Date of the transfer.
- Type of transfer.
- A number of shares/debentures transfer.
- Transferor and transferee name.
- Ledger Folio No. of Transferor and Transferee.
E.Turnover and net worth of the company.
Details of turnover of company as well as net worth should be stated in documents.
F.Number of promoter, member, debenture holder of the company at the beginning of the year and at the end of the year.
- Total number of promoters
- Designation of promoter
- Composition of Board
- Category wise number of board of directors at beginning of financial year as well as end of financial year
- Shareholding of promoter as well as director.
G.Details of Director and Key Managerial Personnel:
- Composition of Directors.
- Number of directors at the beginning of the year.
- Number of directors at the end of the year.
- Percentage of shares held by directors at the end of the year.
2.Particulars of Change in Director and KMP during the year.
H.Details regarding a meeting of members/ class of members/ board meeting/ committee meeting of the Board of Directors
- No of meeting.
- Type of meeting.
- Date of the meeting.
- No directors associated with the date of the meeting.
I.Remuneration of Directors and KMP
Details of remuneration paid to Director, Manager, Managing Director, Senior Manager etc.
- Name of Directors, KMP along with gross receipt of salary
- Name of persons who hold Sweat equity
- Bonus
- Commission
- Fees for participating Board Meeting and Committee Meeting
J.Matters related to certification of compliances and disclosures
- Compliance certificate from compliance officer
- Due date compliances such as Annual return, filing financial statement etc.
- Reasons for delay in compliance
- Concerned authority name
K.Details regarding punishment and penalty
- section under which company penalized
- brief description of non-compliance, fraud
- Name of penalized authority
- Reference of appeal made if any.
Consequences of non-compliance of provision of Annual Return:
Non-compliances of provisions of annual return such company and officer in default shall liable to penalty Rs.10,000 and in case continues failure with further penalty Rs.100 per day subject to maximum Rs.2,00,000.
Company secretary in practice who certify annual return of company otherwise than by requirement then liable for the penalty of Rs.2,00,000.
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Basic Features to Read before starting private limited company
The private company is required to add the word “Private Limited” or “Pvt. Ltd.” to the end of its name. Private company should have at least two members and two directors. The private company has the right to issue debentures to any number of persons.
Features of Public Limited Company
MCA provides the facility for the incorporation of public limited companies. For incorporation, firstly apply for name through RUN (Reserve Unique Name) on the MCA portal. After the availability of name from ROC we should file incorporation form i.e. Spice 32, INC 33(for eMOA), INC 34(for eAOA), .