Under Section 121 (1) of the Companies Act, 2013 every listed public company needs to furnish e-form MGT 15 (Filing Report on Annual General Meeting) under 30 days from the finish of the Annual General Meeting.
Applicability of E-form MGT 15 Under MCA
Beneath section 121(1) of the companies act 2013 read with rule 31(2) of the Companies (Management and Administration) Rules 2014 each company listed in the public will make a report on the AGM. The report will furnish a confirmation that the meeting was summoned, executed under the provision of the guidelines. A copy of the report will be furnished with the registrar in e-form MGT-15 within 30 days of the AGM (Annual General Meeting) result and with the mentioned fee.
Need of the Filing Report on AGM
- However, the minutes of the general meeting was maintained the report will be made on the additional grounds
- The Chairman of the meeting will sign and date the report. Towards the concern, he is not able to sign it any 2 directors of the firm and the company secretary will sign that. If the company held with the managing director then one of the signatures must be done by him
- Various information is to be displayed in the report which consists of the Day, date, venue, and time of the AGM, Components of the appointment of the chairman, information about “the attendees of the meeting, Confirmation of the quorum, Business transacted at the meeting, and the decisions made thereof, Details of any adjournment/postponement of the meeting, a fair summary of the proceedings of the meeting, Confirmation as obeys the meeting being called convened, held and conducted as per the provisions of the act, the rules and secretarial standards,” any other appropriate information needed to the report
- The form will be signed in a digital way and the DIN/PAN/membership figure will be furnished
Penalties Under Section 121
Mentioned below will be the penalties beneath Section 121 of the Act:
| Defaulter | Penalty |
|---|---|
| Company | INR 1 lakh Continuing Failure: INR 500 for each day of default capped at INR 5 lakh |
Every officer in default | Minimum: INR 25,000 Continuing failure: INR 500 for each day of default limited at INR 1 lakh |
Moreover, section 448 of the act furnishes that if the individual builds a statement that is not correct though knows that it is not correct or misses any material fact by finding out it to be the material in any return/ report/ certificate/ financial statement/prospectus/statement or the additional document then the person shall be subjected beneath Section 447 of the Act. Section 449 of the Act is made for the punishment when the person gives the wrong proof in the punishment there will be imprisonment for at least 3 years which might get prolonged to 7 years and a fine which may surge to Rs 10 lakh.
MCA E-form MGT 15 Purpose
All listed public companies will make a report upon each AGM engaging the confirmation to the result that the meeting was called upon carried and executed and furnish that in e-Form MGT-15 with Registrars of Companies (ROC) under MCA.
MCA MGT 15 E-Form Number According to Companies Act, 1956
Under the Companies Act 2013 the same e-form has begun.
Guidelines of the Filing Fees
| Purpose | Normal Fee | Additional Fee (Delay Fee) | The logic for Additional Fees | |
|---|---|---|---|---|
| Event Date | Time limit(days) for filing | |||
| Form MGT 15 for filing Report on AGM (Annual General Meeting) | The Companies (Registration Offices and Fees) Rules, 2014 | Date of the AGM (Annual General Meeting) | 30 Days | |
Fees liable to pay are for the revisions in pursuance of the Act or any rules or regulations formed or notification provided.
Type of Processing
The e-form shall be auto-approved beneath the mode of processing.
Email:
When the e-Form is enrolled through the related authority a disclosure of that will be sent to the user in the email form in the day end to the email id of the company.
