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Is annual report & annual return the same thing under co act ?
While annual return is return required to be filled with the ROC as a part of compliance procedure under companies act.
Annual return is the snapshot of certain company information as they stood on the close of the financial year. Section 92 of the Companies Act, 2013 deals with Annual Return of the Company. The basic purpose of filing annual return with the Registrar of Companies (‘ROC’) is to provide the annual information about the Company to the ROC and its members. Every company shall prepare an Annual Return in Form No. MGT-7 containing the particulars as they stood on the close of the financial year.
Annual Report: An annual report is a comprehensive report detailing a company’s activities throughout the preceding year. Its purpose is to provide users, such as shareholders or potential investors, with information about the company’s operations and financial performance. An annual report is a comprehensive report on a company's activities throughout the preceding year.
Annual Return is MGT-7
Annual Report includes Notice of AGM, Directors Report, Auditors Report, Financial Statement and annexures.
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