What is MGT-7?
Form MGT-7 is an electronic form provided by the Ministry of Corporate Affairs (MCA) to all incorporated companies in India for filing their Annual Return. It contains comprehensive details regarding the company’s shareholding structure, changes in directorships, details of meetings held during the financial year, and remuneration paid to key managerial personnel. Filing this form is a mandatory statutory requirement under Section 92 of the Companies Act, 2013. Maintaining transparency with the Registrar of Companies (ROC) through this form ensures the company remains active and compliant.
Who Must File MGT-7?
Every company registered under the Companies Act, 2013 (or previous acts) is obligated to file Form MGT-7 annually. This includes Private Limited Companies, Public Limited Companies, Section 8 Companies, and wholly-owned subsidiaries. However, One Person Companies (OPCs) and Small Companies are permitted to file an abridged version of the form known as Form MGT-7A.
MGT-7 Due Date & Timeline
The statutory due date for filing Form MGT-7 is strictly within 60 days from the date of the Annual General Meeting (AGM) of the company. Since the AGM must generally be held on or before September 30th of the financial year, the standard deadline for filing MGT-7 naturally falls on or around November 29th each year.
Consequences of Late Filing MGT-7
Delaying the filing of MGT-7 attracts severe statutory penalties. Unlike general event-based forms which follow a multiplier cap (e.g., 2x to 12x the normal fee), MGT-7 attracts a strict, uncapped penalty of ₹100 per day for every single day of default. Furthermore, continuous non-filing for consecutive years can lead to the directors being disqualified under Section 164(2) and the company being struck off the register by the ROC.