MGT-7

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ARUN KUMAR MAITRA (Querist)

26 January 2021 While filing MGT-7 list of shareholders are not attached and in the return column for No option is ticked. Now how reasons are to be indicated in the return separately?
The above return was for subsequent year and not for year of incorporation

Aashok Kumar Sharma online

Aashok Kumar Sharma

(Expert)

09 July 2024 If you have filed MGT-7 (Annual Return) and failed to attach the list of shareholders, you will need to rectify this by providing the necessary information and indicating the reasons for the omission. Here’s how you can proceed:

1. **Rectify the Error**: Since the list of shareholders was not attached, you should prepare the list of shareholders as per the requirements of the MGT-7 form. Include details such as names, addresses, number of shares held, and any other required information.

2. **Provide Explanation**: In the subsequent filing or communication with the Registrar of Companies (ROC), clearly explain the reasons for not attaching the list of shareholders in the original filing. Common reasons could include oversight, technical issues, or misunderstanding of the requirements.

3. **Document the Reasons**: When you file the next MGT-7 or any other correspondence related to this issue, explicitly mention the reasons for not attaching the list of shareholders in the previous submission. This should be done in the cover letter or a separate note accompanying the filing.

4. **Future Compliance**: Ensure that in future filings of MGT-7 or any other related documents, you comply with all requirements, including attaching the list of shareholders as per the prescribed format.

5. **Consultation**: If you are unsure about how to proceed or if there are specific regulations governing such omissions under your jurisdiction, consider seeking advice from a Company Secretary or legal advisor who specializes in corporate compliance.

By rectifying the error promptly, providing a clear explanation, and ensuring future compliance, you can address the issue effectively. This approach helps in maintaining transparency and adherence to regulatory requirements as per the Companies Act.

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