Section 92 of the Companies Act, 2013
Section 92 of the Companies Act, 2013 deals with the filing of an annual return by companies in India.
🔹 Section 92 – Annual Return
Key Provisions:
Applicability:
Every company (except One Person Company - OPC) must prepare an annual return in the prescribed form (Form MGT-7).
Time Limit for Filing:
The annual return should be filed with the Registrar of Companies (ROC) within 60 days from the date of the Annual General Meeting (AGM).
If the AGM is not held, then within 60 days from the date on which the AGM should have been held.
Contents of the Annual Return:
The return shall contain the following details as on the close of the financial year:
Registered office, principal business activities, particulars of holding, subsidiary, and associate companies
Shares, debentures, and other securities and shareholding pattern
Indebtedness
Members and debenture-holders along with changes therein since the close of the previous financial year
Promoters, directors, key managerial personnel and changes therein
Meetings of members or a class thereof, Board and its various committees along with attendance details
Remuneration of directors and key managerial personnel
Penalty or punishment imposed on the company, its directors or officers
Matters relating to certification of compliances, disclosures
Shareholding pattern of the company, and such other matters as may be prescribed
Certification (Sub-section 2):
In case of listed companies and companies having paid-up share capital of ₹10 crore or more or turnover of ₹50 crore or more, the annual return must be certified by a practicing company secretary (PCS) in Form MGT-8.
Penalty for Non-filing:
If a company fails to file the annual return within the prescribed period, it shall be liable to pay a penalty under Section 92(5) and as per Section 403 of the Act.
Earlier, there was imprisonment and fine, but with the Companies (Amendment) Act, 2020, many offenses have been decriminalized, and now monetary penalties apply.
RELATED Blog
0 comments