Summary: The Ministry of Corporate Affairs (MCA) has implemented key changes to its annual filing forms, MGT-7A and AOC-4, effective from July 14, 2025, to improve corporate governance and transparency. The new web-based forms introduce several mandatory requirements, including a revised filing option and the need to provide specific location details, such as longitude and latitude, and a photograph of the registered office. Companies must now also supply their Business Activity Code as per the NIC code and a detailed breakdown of shareholders by category, including gender. Form MGT-7A includes a new Excel sheet for standardized reporting of meeting details and a streamlined process for declaring designated persons. For Form AOC-4, financial figures must be entered in absolute rupees, and specific SRN numbers are required for linking with other forms like ADT-1. The changes also facilitate filing for companies under a Corporate Insolvency Resolution Process and provide separate procedures for both online and offline submissions, each with its own set of advantages and challenges. These updates aim to ensure comprehensive and accurate corporate reporting, ultimately promoting clarity and compliance.
Key Changes in Form MGT-7A:
1.Revised Filing Option: A separate option is now available to mark whether the return is an original or revised filing, with the requirement to provide the SRN for revised filings.
2. Registered Office Verification: The requirement of longitude and latitude details for the registered office aims to Ensure accuracy of registered office information and verify the office location as on Filing date and Financial year-end date.
3. Photograph of Registered Office: A photograph showing the external building and company name prominently visible is now mandatory. The details require on the company banner must be as per section 12 (3)(c) of companies act 2013.
4. Business Activity Code: Companies must provide their Business Activity Code as per the NIC code.
5. Shareholder Breakup:, A detailed breakup of shareholders by category, Promoters and Other than promoters including male, female, individual-transgender, and other than individuals, is now required.
6. Meeting Details: A separate Excel sheet is provided in a prescribed format to capture meeting details, covering Members Meetings, Committee Meetings and Shareholders Meetings. This format ensures standardized reporting and easy tracking of meeting details.
7. Designated Person Details: A new feature allows companies to declare designated persons directly, eliminating the need to attach board resolutions. This streamlines the process and reduces documentation requirements.
8. List of Shareholders: The list of shareholders in Excel format captures key details ie. Folio numbers, Shareholder Identification numbers (PAN, CIN, LLPIN, FCRN, FLLPIN, etc.), Categories, Nationality, Gender, Type and class of shares etc. This comprehensive data enables efficient tracking of shareholder identities and facilitates future reference.
Key Changes in Form AOC-4
The Ministry of Corporate Affairs (MCA) has introduced several key changes to Form AOC-4, which is used for filing financial statements. Here are the updates:
Important Points
1. Figures in Absolute Rupees: Financial figures should be entered in absolute rupees only.
2. Email ID Update: Email IDs of companies or LLPs cannot be changed through annual filing forms. Instead, use the CRF form or update through the MCA V3 portal.
3. Designation Categories: Additional designation categories have been added for signatories of financial statements.
4. SRN of ADT-1: When filing subsequent forms of AOC-4 Enter the SRN of ADT-1 to auto-populate relevant information For first-year filing, use SRN Z9999999 as a placeholder, as per practical aspects suggested by experts.
5. Insolvency Professional Filing: When a company is under Corporate Insolvency Resolution Process (CIRP), Insolvency Professionals (IPs) can file Form AOC-4 and IPs use their Digital Signature Certificate (DSC) for filing. This provision facilitates smooth compliance and reporting during the CIRP process.
6. Related Party Transactions: Details of related party transactions should be filled in the prescribed Excel format in AOC-2. In excel we need to file Nature of contracts/ arrangements/ transactions, Duration of the contracts / arrangements/ transactions contractual amount, Date of approval by the Board, Amount paid as advances, if any and many more.
7. E Auditor Report and E Director Report: When filing Form AOC-4:
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- Online Mode : After completing Form AOC-4, E-Auditor Report and E-Director Report will open as interlinked forms.
- Offline Mode: E-Auditor Report and E-Director Report will open in Excel format.
8. Attachments for Form AOC-4: All the signed documents need to be attached to Form AOC 4-Financial Statements, Auditor Report, Notice of Annual General Meeting (AGM), Signed Director’s Report, Consent for shorter notice (if applicable). These documents must be attached in both online and offline filing modes.
9. DSC Affixation: Online Mode :
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- After generating SRN, download forms in a zip folder.
- Affix DSC on: AOC-4, AOC-2, E-Director Report, E-Auditor Report
- Ensure the same Director’s DSC is used for all linked forms.
Offline Mode: Upload the completed Excel forms as attachments and affix the DSC on AOC-4 only.
Practical Issues or challenges:
1. Which option is better Online and Offline Modes
Answer: The choice between online and offline modes for filling forms depends on:
Work Culture: Your familiarity and comfort with digital platforms.
Data Entry Preference: Whether you prefer entering data directly online or working with Excel sheets offline.
Online Mode:
– Pros: Auto-save features, ease of use, and direct submission.
– Cons: Requires stable internet connection, potential system glitches.
Offline Mode:
– Pros: Flexibility to work without internet, control over data entry.
– Cons: Requires specific Excel settings, manual data transfer.
Ultimately, the choice depends on your personal preference and work style.
2. Signatories for Director Reports
- Physical Director Report: Signed by at least two directors, as per Section 134(6) of the Companies Act 2013.
- E-Director Report: Can be signed by only one director, as per the MCA’s form design.
3. Practical Advice for Filing Annual Forms
When filling annual forms, it’s advisable to:
- Gather all required information and documents beforehand.
- Organize prerequisites, such as financial statements and board meeting details.
- Ensure all attachments are ready and in the required format.
This approach will, Save time, Reduce errors, Enable smooth filing, by being prepared, professionals can efficiently complete and submit forms.
Conclusion: The Ministry of Corporate Affairs introduce the annual filing form on the V3 portal is a significant step towards enhancing transparency and accountability. The detailed design of these forms ensures that companies provide comprehensive information about their activities during the reporting financial year, promoting clarity and compliance.
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Disclaimer: The entire contents of this article have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation. The observations of the author are personal view and the authors do not take responsibility of the same and this cannot be quoted before any authority without the written.
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