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Filing of MGT-14

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Muralidharan

Self Employed

1035 Points Posted on 22 August 2020

Dear Members

In compliance with Section 117 read with Section 179 read with Rule 8 of Companies Meetings of Board and its Powers Rules, Form MGT-14 is required to be filed by public limited companies for various types of resolutions passed by the Board / Members.

A company has appointed CFO. Form MGT-14 along with board resolution already filed with ROC / MCA. The CFO is entitled for annual increments. Hence the board of directors have passed resolution for providing increase in remuneration wef 01.04.2020.

Please inform whether Form MGT-14 is required to be filed for passing resolution by the board for annual increase in remuneration of CFO.

with regards

Muralidharan

Replies (2)

Quick Summary

This discussion addresses whether Form MGT-14 needs to be filed with the ROC/MCA when a company's board passes a resolution for an annual increment in the CFO's remuneration. While MGT-14 is generally required for certain board/member resolutions, the consensus here suggests it's not needed for a standard annual remuneration increase for a CFO, unless it constitutes a special resolution or involves a new agreement.