Filings with MCA that Every Practicing CS Needs to Know
The procedure, due dates, and necessary attachments for each form are the main topics of this comprehensive article that examines the important yearly MCA filings that any CS needs to be familiar with
One of the pillars of corporate governance in India is annual compliance. In addition to being required by law, Company Secretaries' ( CS ) timely and accurate filings with the Ministry of Corporate Affairs ( MCA ) are essential to maintaining the company's legal position, accountability, and transparency. The procedure, due dates, and necessary attachments for each form are...
One of the pillars of corporate governance in India is annual compliance. In addition to being required by law, Company Secretaries' ( CS ) timely and accurate filings with the Ministry of Corporate Affairs ( MCA ) are essential to maintaining the company's legal position, accountability, and transparency.
The procedure, due dates, and necessary attachments for each form are the main topics of this comprehensive article that examines the important yearly MCA filings that any CS needs to be familiar with.
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Form MGT-7 / MGT-7A (Annual Return)
This form captures a company’s structure, shareholding, directorship, and other statutory data as on the close of the financial year. MGT-7 applies to all companies except One Person Companies (OPCs) and small companies.
MGT-7A is a simplified return applicable to OPCs and small companies. It must be filed within 60 days of the AGM, typically by 29 November if the AGM is held on 30 September.
Attachments:
- List of shareholders
- Debenture Holders
- List of Transfer/ Transmission of Shares
- List of Directors
- Approval letter for extension of AGM (if any)
- Copy of MGT-8
Form AOC-4 (Financial Statement Filing)
This form is used to file audited financial statements including balance sheet, profit & loss account, and cash flow statements. Applicable to all companies, it must be filed within 30 days of the AGM, ideally by 30 October.
Attachments include auditor’s report, board report, CSR report (if applicable), and financial statements in prescribed format.
Form AOC-4(CFS)
The Companies which have Subsidiary Company, Associate Company and Joint Ventures has to file this form. It is the Consolidated Financial Statement.
Form DPT-3 (Return of Deposits)
DPT-3 provides information on outstanding loans, deposits, or other receipts not considered deposits under the Companies Act. It applies to all companies except government companies and is due by 30 June every year. The form should be accompanied by the auditor’s certificate, list of depositors, and supporting documents.
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Form DIR-3 KYC
This is the annual KYC filing for individuals who hold a Director Identification Number (DIN) as on 31 March of the financial year. Filing must be completed by 30 September each year to avoid deactivation of DIN.
Form MSME-1
This half-yearly return mandates disclosure of outstanding payments due to MSME suppliers for over 45 days. Applicable to companies with such outstanding dues, the due dates are 30 April and 31 October for the respective periods ending March and September.
BEN-1 and BEN-2
These forms pertain to Significant Beneficial Ownership (SBO) reporting. BEN-1 is submitted by the individual SBO to the company, and BEN-2 is filed by the company with the ROC. The filing must be done within 30 days of becoming or ceasing to be an SBO, or on any change therein.
ADT-1
This form notifies the ROC about the appointment or reappointment of statutory auditors. Applicable to all companies, ADT-1 must be filed within 15 days of the AGM at which the auditor is appointed.
Attachments:
- Consent of Auditor
- Eligibility Certificate of Auditor
- CTC of General Meeting Resolution
- Appointment Letter
PAS-6
Filed by unlisted public companies, PAS-6 provides a half-yearly report on share capital reconciliation. It is due within 60 days from the end of each half-year, i.e., 30 September and 31 March.
CRA-4 (Cost Audit Report Filing):
CRA-4 is applicable to companies mandated to undergo cost audit under the Companies Act. It must be filed within 30 days of receiving the cost audit report from the cost auditor.
MGT-14 (Board Resolution Filing):
Used by public companies to file certain board or shareholder resolutions (like adoption of accounts), MGT-14 must be submitted within 30 days of the resolution being passed.
MGT-15 (AGM Report Filing):
This form contains a report of the Annual General Meeting proceedings and is applicable to listed public companies. It is due within 30 days of the AGM.
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The Role of Company Secretary in Annual Filings
Annual MCA filings serve as vital regulatory duties that protect the business's legal standing, reputation, and stakeholder trust; they are not just administrative tasks for a company secretary. The CS needs to:
- Monitor statutory calendars: Ensure all deadlines are tracked and met.
- Coordinate with auditors and management: Obtain timely financial statements, reports, and certifications.
- Prepare and verify documents: Authenticate accuracy and completeness of disclosures.
- Certify and file forms: Use digital signatures and, where required, professional certification.
- Maintain records: Ensure proper preservation of filed documents for inspection and reference.
- Advise the board: Update directors and management on compliance requirements and consequences of non-compliance.
Key Differences Between Form MGT-7 and MGT-7A for Annual Filings
Form MGT-7 and Form MGT-7A are both annual return forms prescribed under the Companies Act, 2013, but they cater to different categories of companies and have distinct requirements. Here are the primary differences:
|
| MGT-7 | MGT-7A |
| Applicability | Applicable to all companies except small companies and One Person Companies (OPCs). This includes public companies and private companies that do not qualify as small companies or OPCs | Exclusively for small companies and OPCs. Introduced to simplify compliance for these entities from the financial year 2020-21 onwards |
| Complexity and Disclosure Requirements | More detailed and comprehensive. It requires extensive disclosures, including:
| Simplified version with fewer fields and reduced disclosure requirements. Exemptions include:
|
| Filing Process and Documentation | Requires uploading comprehensive supporting documents, such as:
| Focuses on key information only, making the process faster and less administratively burdensome. The required attachments are fewer and the process is streamlined for small-scale operations |
| Cost and Time Efficiency | Involves a higher compliance burden, both in terms of time and cost, due to the volume of information and documentation required. | Designed to be more cost-effective and time-efficient, with a simpler fee structure and less documentation. |
| Due Date | Generally must be filed within 60 days of the AGM or, for OPCs (which do not hold AGMs), within 60 days from the completion of six months after the end of the financial year | Generally must be filed within 60 days of the AGM or, for OPCs (which do not hold AGMs), within 60 days from the completion of six months after the end of the financial year |
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