Ishita Ramani
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Introduction Form MGT 14 was created by the Companies Act, 2013 in order to provide specific decisions to the Registrar of Companies (ROC). Such resolutions must be filed after they are officially accepted by a meeting of the company's creditors, shareholders, and board of directors. This article
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FAQ :
Form MGT 14 is a requirement under the Companies Act, 2013, for companies to file copies of resolutions adopted, agreements signed, and explanatory statements with the Registrar of Companies (ROC) in India.
Form MGT 14 is used to file Ordinary Resolutions, Special Resolutions, and Board Resolutions that have been passed by the company's shareholders, directors, or creditors.
An Ordinary Resolution is approved by a simple majority of votes. It typically covers matters such as accepting public deposits, modifying the company name, removing a director, or appointing a statutory auditor.
A Special Resolution requires approval from at least 75% of the members present and voting. It is used for significant matters like amalgamating businesses, voluntary winding up, transferring the registered office between states, or amending the Memorandum/Articles of Association.
Board Resolutions filed in Form MGT 14 often relate to approving buybacks of securities, issuing debentures, obtaining loans, approving financial reports, mergers and acquisitions, and appointing key management personnel.
Companies must submit Form MGT 14 to the Registrar of Companies within 30 days of the resolution being passed or the agreement being signed, along with the required fees.
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