MGT-9 not required! Extract of annual return mgt-9 applicability
Extract of annual return MGT-9 required or not? A million dollar question finally resolved! Ministry of Corporate Affairs has amended Companies (Management and Administration) Amendment Rules 2014, vide notification no G.S.R. 538 (E) dated 28th August 2020. As per the amendment MCA has done away with the requirement of attaching extract of annual return in Form MGT-9 to the boards report, if the web link of such annual return has been disclosed in the Board’s report.
Mgt-9 requirement :- Text of the notification: mgt-9 mgt9
In the Companies (Management and Administration) Rules, 2014, in rule 12, in sub-rule (1), the following proviso shall be inserted vide Notification no G.S.R. 538 (E) dated 28th August 2020, namely:-
“Provided that a company shall not be required to attach the extract of the annual return with the Board’s report in Form No. MGT-9, in case the web link of such annual return has been disclosed in the Board’s report in accordance with sub-section (3) of section 92 of the Companies Act, 2013.”
In simple words if your company has website publish annual return on your website and provide link of the annual return in your board report. If your company do not have website then disclose the fact in board report.
Latest amendment: MCA vide notification G.S.R. 159(E) dated 5th March, 2021 substituted the rule 12 of Companies (Management and Administration) Rules, 2014 with below rule:
12. “Filing of Annual Return with Registrar.- A copy of the annual return shall be filed with the Registrar with such fees as may be specified for this purpose”
Now, as per Section 92 (3) only annual return in MGT-7/7A will be filed with ROC. And , if company have website such annual return MGT-7/7A will be published on website. Link of this will be mentioned in the Board Report.
