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MCA Notifies MGT-7A for OPC and Small Companies.

G.S.R-(E).- In exercise of powers conferred by sub-section (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Management and Administration) Rules, 2014, namely:-

  1. Short, title and Commencement.- (1) These rules may be called the Companies (Management and Administration) Amendment Rules, 2021.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Companies (Management and Administration) Rules, 2014, (herein after referred to as the said rules), in rule 11, for sub-rule (1), the following sub-rule shall be substituted, namely:-

“(1) Every company shall file its annual return in Form MGT-7 except One Person Company (OPC) and Small Company. One Person Company and Small Company shall file the annual return from the financial year 2020-2021 onwards in Form No. MGT-7A”.,

(a) in the said rule, for rule 12, the following rule shall be substituted, namely,-

“12. Filing of Annual Return with Registrar.- A copy of the annual return shall be filed with the Registrar with such fees as may be specified for this purpose.”.

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(b) in the said rules, in rule 20, after proviso in sub-rule (2), the following explanations shall be numbered namely,-

Explanation-I.– For the purpose of this sub-rule, “Nidhi” means a company that has been incorporated as a Nidhi with the object of cultivating the habit of thrift and savings amongst its members, receiving deposits from and lending to, its members only, for their mutual benefit, which complies with such rules as are made by the Central Government for the regulation of such class of companies.

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Explanation.II.– For the purposes of this rule, the expression-

(i) ‘agency’ means the National Securities Depository Limited, the Central Depository Services (India) Limited, or any other entity approved by the Ministry of Corporate Affairs subject to the condition that the National Securities Depository Limited, the Central Depository Services (India) Limited, or any other entity has obtained a certificate from the Standardization Testing and Quality Certification Directorate, Department of Information Technology, Ministry of Communications and Information technology, Government of India including with regard to compliance with parameters under Explanation (vi);

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MCA Notifies MGT-7A for OPC and Small Companies.

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