MCA releases Companies (Management and Administration) Amendment Rules, 2021



Quick Summary
The Ministry of Corporate Affairs (MCA) has introduced the Companies (Management and Administration) Amendment Rules, 2021. These new rules amend the 2014 regulations and specify changes to how companies file their annual returns. Notably, One Person Companies (OPCs) and Small Companies will now use Form No. MGT-7A for their annual returns from the financial year 2020-2021 onwards, while other companies will continue to use Form No. MGT-7.

The Ministry of Corporate Affairs has further amended the Companies (Management and Administration) Rules, 2014 and have released the Companies (Management and Administration) Amendment Rules, 2021. Read the official notification and amendments made therein, below:

[To be published in the Gazette of India, Extraordinary, part II, section 3, sub-section (i)] 

GOVERNMENT OF INDIA 
MINISTRY OF CORPORATE AFFAIRS 
NOTIFICATION 
New Delhi, 5th March, 2021 

G.S.R-(E).- In exercise of the powers conferred by 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.-

Companies Act Amendment Rules 2021 Released by MCA

(1) These rules may be called the Companies (Management and Administration) Amendment Rules, 2021. 

(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,(herein after referred as the said rules), in rule 11, for sub-rule (1), the following sub-rule shall be substituted, namely:- 

"(1) Every company shall file its annual return in Form No.MGT-7 except One Person Company (OPC) and Small Company. One Person Company and Small Company shall file annual return from the financial year 2020-2021 onwards in Form No.MGT-7A"; 

(a). in the said rules, for rule 12, the following rule shall be substituted, namely,- 

"12. Filing of Annual Return with Registrar.- A copy of the annual return shall be filed with the Registrar with such fees as may be specified for this purpose."

To read more in details, find the enclosed copy of the official notification  

FAQ :

These are new rules released by the Ministry of Corporate Affairs that amend the existing Companies (Management and Administration) Rules, 2014.

The amendment rules come into force on the date they are published in the Official Gazette.

From the financial year 2020-2021 onwards, OPCs and Small Companies must file their annual returns using Form No. MGT-7A.

All companies, except for One Person Companies (OPC) and Small Companies, will continue to file their annual returns using Form No. MGT-7.

A copy of the annual return shall be filed with the Registrar with the specified fees.




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