Extract of annual return not to be disclosed in MGT 9 if weblink disclosed in Board Report notifies MCA



Quick Summary
The Ministry of Corporate Affairs has amended the Companies (Management and Administration) Rules, 2014. As of their publication in the Official Gazette, companies are no longer required to attach the extract of their annual return to the Board's report in Form No. MGT.9. This change applies if the web link to the annual return has already been disclosed in the Board's report, as per Section 92(3) of the Companies Act, 2013.

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (i)]

GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
Notification
New Delhi, the 28 August, 2020

G.S.R. (E). - In exercise of the powers conferred under sub-section (3) of section 92, read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Management and Administration) Rules, 2014, namely:-

1. Short title and commencement.-

(I) These rules may be called the Companies (Management and Administration) Amendment Rules, 2020.

(2) They shall come into force on the date of their publication in the Official Gazette.

2. In the Companies (Management and Administration) Rules, 2014, in rule 12, in sub-rule (1), the following proviso shall be inserted, namely:-

"Provided that a company shall not be required to attach the extract of the annual return with the Board's report in Form No. MGT.9, in case the web link of such annual return has been disclosed in the Board's report in accordance with sub-section (3) of section 92 of the Companies Act, 2013."

[F.No.01/34/2013-CL-V-(Pt-I)]

(K.V.R. MURTY)
Joint Secretary to the Govt. of India

Note: - The principal notification was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.s.R. 260(E), dated the 31st March, 2014 and subsequently amended vide the following notifications:-

Serial Number | Notification Number | Notification Date
1. | G.5.R. 415 (E) | 23.06.2014
2. | G.S.R. 537 (E) | 24.07.2014
3. | G.5.R. 669 (E) | 28.08.2015
4. | G.S.R. 737 (E) | 24.09.2015
5. | G.5.R. 862 (E) | 16.11.2015
6. | G.5.R. 908 (E) | 23.09.2016
7. | G.5.R. 175 (E) | 16.02.2018
8. | G.S.R. 560(E) | 13.06.2018 

FAQ :

The main change is that companies are no longer required to attach the extract of their annual return with the Board's report in Form No. MGT.9.

A company can omit the extract if the web link to the annual return has been disclosed in the Board's report.

Section 92, sub-section (3) of the Companies Act, 2013 is relevant to this amendment.

These amendment rules came into force on the date of their publication in the Official Gazette.

Form No. MGT.9 is the form where the extract of the annual return is typically attached with the Board's report.




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