The Central Government vide Notification No. G.S.R. 159(E) dated 5th March, 2021, amended the Companies (Management and Administration) Rules, 2014 such that changes were incorporated in the filing of Annual Returns by companies as well as the Board’s Report for Financial Year 2020-21 onwards.
Annual Return:
Pre Amendment: Annual Return was required to be filed by all the companies using Form No. MGT-7.
Post Amendment: OPC and Small Company shall file its Annual Return in Form No. MGT-7A.
Board’s Report:
Pre Amendment: As per Rule 12(1), extract of annual return shall form part of Board’s Report in Form No. MGT-9. Further, Rule 12(2) requires a copy of Annual Return to be filed with the Registrar along with payment of fees.
Post Amendment: Rule 12 no longer mentions that an extract of annual return should form part of the Board’s Report. This portion of Rule 12 stands omitted to this extent post amendment. Filing of copy of Annual Return with Registrar continues to be mandatory as per Rule12.
