What is the MGT-14 Form?

The MGT-14 is a mandatory form that companies need to file with the Ministry of Corporate Affairs (MCA) in India. It is primarily used to inform the MCA about resolutions that have been passed by the company’s board of directors or shareholders.

When is MGT-14 Required?

A company must file this form in these particular circumstances:

• A specialized resolution classified as MGT-14 requires filing when a company approves such changes (alterations of name or capital or other significant decisions).

• All important decisions made by company boards require resolution documents to be filed through Board Resolutions. These documents encompass major decisions like appointing directors and approving financial statements and policy creation.

• Companies need to use MGT-14 to submit their resolution about memorandum or articles of association modifications to MCA.

What Documents Are Needed?

The following documents are typically needed when filing MGT-14:

• Resolution Passed: A copy of the resolution passed by the board or shareholders.

• Notice of Meeting: A copy of the notice of the meeting where the resolution was passed (in case of board resolutions).

• Certified True Copy: A certified true copy of the resolution by the authorized signatories of the company.

Steps to File MGT-14 Form

The filing process for the MGT-14 form is as follows:

• Login to MCA Portal: The company authorized representative (director, company secretary) should log in to the Ministry of Corporate Affairs portal.

• Download and Fill the MGT-14 Form: Choose the appropriate form (MGT-14) and fill in all the required details, such as:

1. Corporate details (Company name, CIN, etc.)
2. Date of resolution passed
3. Details of the resolution

• Attach Supporting Documents: Upload the required documents, including the copy of the resolution passed, and any other documents as applicable.

• Sign the Form: The form needs to be signed digitally by a director or a company secretary authorized to do so.

• Pay Filing Fees: Pay the prescribed filing fees online through the MCA portal.

• Submit the Form: After completing all steps, submit the form. Upon successful submission, a confirmation will be generated, and the company can track the filing status.

Penalty for Non-Compliance

If the MGT-14 form is not filed on time, the company may face penalties as prescribed under the Companies Act, 2013. The penalties can be substantial and increase with time, so it is crucial to file the form within the specified time limit, which is generally 30 days from the date of passing the resolution.

Common Types of Resolutions Filed Through MGT-14

Some common resolutions that are filed through MGT-14 include:

• Change in Registered Office Address: If the company changes its registered office address.

• Alteration of Share Capital: If there is a change in the company’s share capital structure.

• Appointment of Directors: When a new director is appointed, or there is a change in the existing board.

• Alteration of Memorandum and Articles of Association: If the company alters its memorandum or articles, such as changing the business objectives or modifying clauses.

• Approval of Financial Statements: When the board approves the financial statements.

Key Points to Remember

• MGT-14 must be filed within 30 days from the date of the passing of the resolution.

• The form should be filed for special resolutions and board resolutions.

• The form should be signed digitally by an authorized representative.

Conclusion

MGT-14 serves as an essential document under the Companies Act 2013 enabling Indian companies to notify changes in corporate resolutions to the MCA. On-time submissions and precise information delivery prevent legal penalties while maintaining the company’s position within the law.

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