Everything about Form MGT-7A: Small Companies and OPC

Last Updated On: Nov. 10, 2021, 10:04 p.m.
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EVERYTHING ABOUT NEW FORM MGT-7A FOR OPC AND SMALL COMPANIES

Under the section 92 read with sub rule (1) rule 11 of the companies management and administrative rules, Ministry of Corporate Affairs has notied a seperate form for small companies and OPC's. The Form MGT-7A is introduced to reduce the burden compliance on the small companies and OPC's.

 

Let us first understand the definition of small company-

A small company means a company other than the public company-

(i) paid-up share capital of which does not exceed two crores rupees or such higher amount as may be prescribed which shall not be more than ten crore rupees and

(ii) turnover of which as per profit and loss account for the immediately preceding financial year does not exceed twenty crore rupees or such higher amount as may be prescribed which shall not be more than one hundred crore rupees.

 

 

Provided that nothing in this clause shall apply to

(A) a holding company or a subsidiary company;

(B) a company registered under section 8; or

(C) a company or body corporate governed by any special Act.

The entire format of the form MGT-7A has been kept intact, barring few changes. The major differences between MGT-7 and MGT 7A is as follows:

1. Details of directors and KMPi.e., the composition of the board of directors, details of directors and KMP has been omitted in the new form.

2. The remuneration of details of KMP has also been omitted. *

3. The list of directors instead of mentioning in the form till now, has now been shifted to optional attachments.

 

Applicability of Form No- MGT 7A :

Form MGT 7A is applicable for the Financial Year 2020-21 in respect of the following:-

1. OPC (One Person Company), and

2. Small Company

 

 Due Date for filing Form MGT 7A for F.Y. 2020-21 :-

The last date for filing of Form MGT-7A is 29th January, 2022

Form MGT-7A is required to be filed within 60 days from the date of Annual General Meeting of the Company. Since the order has been issued by the respective State RoCs for extension of the Annual General Meeting for the Financial Year 2020-21 by a period of 2 months, the due date for AGM is 30.11.2021. Thus, the last date for filing of Form MGT-7A by a Small Company is 29th January, 2022.

The last date for filing of Form MGT-7A for OPC is 28th November, 2021.

One Person Company is not required to hold Annual General Meeting, yet the due date for filing Form MGT 7A shall be 60 days from the completion of the 6 months from the end of financial year. Thus, the last date for filing of Form MGT-7A by OPC is 28th November, 2021.

 

 

Form Filing Fees:

In case of company having Authorised / Nominal Share Capital of :- Fee applicable
Less than 1,00,000 Rs.200
1,00,000 to 4,99,999 Rs.300
5,00,000 to 24,99,999 Rs.400
25,00,000 to 99,99,999 Rs.500
1,00,00,000 or more Rs.600

 

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