Private company’s major annual compliances under the Companies Act, 2013
| Form/Return | Due date | Documents needed/to be submitted |
| Form MBP1 Directors must disclose details of their interest/shareholding in any other company, if any. | First Board meeting that the director participates after appointment or in case of any subsequent changes. | MBP1 |
Form DIR-3 KYC Individuals who have been allotted DIN as on March 31 of a financial year. | Within 30th September of the immediately next financial year. | Proof of permanent address of the director -i.e. passport, election card, and ration card, driving license, electricity bill, telephone bill or Aadhaar. |
Board Meeting Companies have to hold 4 meetings in a year. | With not more than 120 days gap between each meeting. |
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| Annual General Meeting(AGM) | On or before September 30 for the financial year ending on March 31 or 15 months from the date of last AGM, whichever is earlier. In the case of a newly incorporated company, the first annual general meeting can be held within a period of 9 months from the date of closing of the first financial year. |
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| Form AOC-4 Reporting the company’s annual financial statements | Within 30 days from the date of the company’s annual general meeting held in the relevant year |
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| MGT-7 Filing the company’s annual returns | Within 60 days from the date of the annual general meeting held in the relevant year |
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| Form ADT-1 Reporting the appointment or re-appointment of company’s auditor | Within 15 days from the date of appointment An auditor has a maximum tenure of five years |
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In the recent past there have been ample instances of the regulators coming down harsh on companies by merely reading and understanding the information submitted as a part of the annual compliance filings. Even minor non compliances have proven costly to companies. Hence annual filings should not be seen as just another compliance tick box. As founders, since you are the torch bearers of a company’s governance culture, annual filings help look back and introspect into the level of compliance adherence. They also serve as the compliance health report for an entire year of an organisation.
