Calculation Of Due Date Of Annual Forms

SHORT SUMMARY

In this editorial author shall discuss a very common point of Companies Act, 2013 that is in relation to Calculation of Due Date of Annual Forms. The question are followings:

• Whether Date of AGM shall be include/ excluding while calculating the Due Date of e-form?
• What is the Due Date of AOC-4, MGT-7, ADT-1 and DIR-12
• Consequences of filing of e-forms after Due Date?

PROVISION OF THE LAW

• Due Date of AOC-4: (1) A copy of the financial statement , including consolidated financial statement, if any, along with all the documents which are required to be or attached to such financial statements under this Act, duly adopted at the annual general meeting of the company, shall be filed with the Registrar within thirty days OFthe date of annual general meeting in AOC-4, with such fees or additional fees as may be prescribed
• Due Date of ADT-1(1): Provided also that the company shall inform the auditor concerned of his or its appointment, and also file a notice of such appointment with the Registrar within fifteen days OFthe meeting in which the auditor is appointed.
• Due Date of MGT- 7(4): Every company shall file with the Registrar a copy of the annual return, within sixty days FROM the date on which the annual general meeting is held or where no annual general meeting is held in any year within sixty days from the date on which the annual general meeting should have been held together with the statement specifying the reasons for not holding the annual general meeting, with such fees or additional fees as may be prescribed.
• Due Date of DIR-12(2): A return containing such particulars and documents as may be prescribed, of the directors and the key managerial personnel shall be filed with the Registrar within thirty days FROM the appointment of every director and key managerial personnel, as the case may be, and within thirty days of any change taking place.

ANALYSIS OF PROVISIONS

As per above mentioned provisions of Companies Act, 2013 we are analyzing the provisions of Due Date for 4 (four) forms of Companies Act, 2013 which are relating to Annual Filing.

Due Date of AOC-4 and ADT-1

• AOC-4 required to file within thirty days OFAnnual General Meeting.
• ADT-1 required to file within fifteen days OFAnnual General Meeting

As per above language, one can opine that while calculating the 30 days or 15 days from the AGM due to the word "OF" the date of AGM shall be "include".

Due Date of MGT-7 and DIR-12

• MGT-7 required to file within sixty days FROMAnnual General Meeting.
• DIR-12 required to file within Thirtydays FROMAnnual General Meeting

As per above language, one can opine that while calculating the 60 days or 30 days from the AGM due to the word "FROM" the date of AGM shall be "Exclude".

CALCULATION OF DUE DATE

On the basis of above provisions and interpretation lets find out Due Date on the basis of a hypothetical situation:

Eg: Divesh Solutions Private Limited held their Annual General Meeting on 30th September 2022. In the AGM Director has been regularized, auditor has been appointed, financial has been adopted. What shall be due date of all the forms?

AOC-4: within 30 OF days of Annual General Meeting

MGT-7: within 60 FROM days of Annual General Meeting

ADT-1: within 15OF days of Annual General Meeting.

DIR-12: within 30 FROM days of Annual General Meeting

Que: Consequences of filing of e-forms after Due Date?

Conclusion

After Analysis of above-mentioned provisions of Company Law along with their interpretation one can opine that there is very minor difference between language of provisions like OF AND FROM. This OF and FROM changing the complete calculation of Due Date of above mentioned four forms.

Therefore, everyone should carefully interpret OF and FROM while calculating the due dates of the forms.