An annual return is a yearly statement that companies must file with the MCA. It includes information about the company’s activities, composition, and financial position. All companies, including private limited companies, one person companies, small company and section 8 companies, must file an annual return.
- Who will sign the annual return of an OPC (One Person Company) and a small company?
The annual return of a One Person Company (OPC) and a small company shall be signed by the company secretary of the company. If the company does not have a company secretary, the annual return can be signed by any one director of the company who is authorized to do so.
- Who will signed annual return in case of Other than listed company & company having psc <10cr or turnover <50cr?
A company other than a listed company or a company with a paid-up share capital of less than ₹10 crore or a turnover of less than ₹50 crore shall have its annual return signed by the director and the company secretary. If the company does not have a company secretary, the annual return shall be signed by the director and a practicing company secretary (PCS).
- Who will signed annual return in case of Listed company or company having psc≥10cr or turnover≥50cr ?
A listed company or a company with a paid-up share capital of ₹10 crore or more, or a turnover of ₹50 crore or more, shall have its annual return signed by the director and the company secretary. If the company does not have a company secretary, the annual return shall be signed by the director and a practicing company secretary (PCS).
Such a company’s annual return shall be certified by a practicing company secretary (PCS) in Form MGT-8
Note:- As per Section 203 of the Companies Act, 2013, and Regulation 6 of the LODR (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is mandatory for every listed company to appoint a company secretary (CS).
Section 92(4):-
Section 92(4) of the Companies Act, 2013 states that companies are required to file an annual return with the Registrar of Companies (ROC) within 60 days of the Annual General Meeting (AGM) in Form MGT-7
In the case of One Person Companies (OPC) and small companies, the annual return must be filed in Form MGT-7A.
Penalty:-
Section 92(5) of the Companies Act of 2013 states that if a company doesn’t file its annual return within the specified time, the company and its officers will be liable for a penalty:
The penalty is ₹10,000
If the failure continues, a further penalty of ₹100 is added for each day after the first
The maximum penalty for the company is ₹2 lakh
The maximum penalty for officers is ₹50,000
Section 92(6) of the Companies Act, 2013 states that a company secretary is liable to a penalty of up to two lakh rupees if they certify an annual return that does not comply with the requirements of the section or the rules made under it.
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