CRITICALITIES – Annual Filing F.Y. Ended 31.03.2019

In an attempt to discuss the Criticalities in preparation of Annual Documents and filing of Annual Forms for the F.Y. ended 31.03.2019. Like: MGT-9 required preparing or not? In this editorial we will discuss the 10 most discussed FAQ’s on Annual Filing.

As per provisions of Section 137 and Section 92 Companies are required to file e-form AOC-4 within 30 days of holding of AGM and MGT-7 within 60 days of holding of AGM.

 

FAQ’s

1. Whether AGM can be held through Video Conferencing?
  As per Companies Act, 2013, Annual General Meeting of Company can’t be held through Video Conferencing. It can be held only as physical meeting.
2. Whether Financial Statement of Company can be approve in Board Meeting held through Video Conferencing?
  As per Companies Act, 2013, Financial statement of Company can be approve in the meeting of board of Directors held through Video conferencing, Provided physical quorum of Board Meeting should be present at the place of meeting.
3. Whether Companies are required to prepare MGT-9 for F.Y. ended 31.03.2019?
  As per section 92 all the companies have to prepare MGT-9 for the f.y. ended 31.03.2019.
4. Whether Companies required publishing MGT-7 or MGT-9 on its Website.
  As per section 134 every company having website need to upload its MGT-7 (Annual Return) on website of the Company and link of same publication need to give in Directors Report.
5. Whether Auditor can be appoint for period less than or more than 5 year in the AGM of 2019?
  As per Section 139(1), auditor of company can be appointing till 6th AGM of the Company. Therefore, Auditor can be appointing for minimum or maximum 5 years.
6. Who can sign the Annexure of Director Report?
  As per section 134, annexure to Directors Report should be sign in same manner as Directors Report is signed. Therefore, same person who have signed the Directors report have to sign annexure of Directors Report.
7. Whether it is mandatory to note down disclosure about compliance of POSH Act in Directors Report?
  As per Section 22 of Posh Act, every company on which Posh act applicable need to give disclosure about compliance of provisions of POSH Act in Directors Report.
8. Directors report prepare on the basis of Standalone financial statement or Consolidated Financial Statement?
  As per Section 134, Directors report shall be prepare on the basis of Standalone financial statement only.
9. Whether it is mandatory to note down disclosure about compliance of Secretarial Standard in Directors Report?
  As per provisions of Secretarial Standard 1, every company on need to give disclosure about compliance of Secretarial Standards in Directors Report.
10. Whether proxy can attend the meeting for the purpose of fulfilling of quorum of General Meeting.
Proxy shall not be count for quorum.

(Author – CS Divesh Goyal, GOYAL DIVESH & ASSOCIATES Company Secretary in Practice from Delhi and can be contacted at csdiveshgoyal@gmail.com).

Disclaimer: The entire contents of this document have been prepared on the basis of relevant provisions and as per the information existing at the time of the preparation. Although care has been taken to ensure the accuracy, completeness and reliability of the information provided, I assume no responsibility therefore. Users of this information are expected to refer to the relevant existing provisions of applicable Laws. The user of the information agrees that the information is not a professional advice and is subject to change without notice. I assume no responsibility for the consequences of use of such information. IN NO EVENT SHALL I SHALL BE LIABLE FOR ANY DIRECT, INDIRECT, SPECIAL OR INCIDENTAL DAMAGE RESULTING FROM, ARISING OUT OF OR IN CONNECTION WITH THE USE OF THE INFORMATION

Author Bio

More Under Company Law

Leave a Comment

Your email address will not be published. Required fields are marked *