REQUESTING MCA TO ISSUE NOTIFICATION ABOUT GIVING A WEBLINK OF ANNUAL RETURN IN BOARD’S REPORT OF COMPANIES.

REQUESTING MCA TO ISSUE NOTIFICATION ABOUT GIVING A WEBLINK OF ANNUAL RETURN IN BOARD’S REPORT OF COMPANIES.

GIVING WEB-LINK OF ANNUAL RETURN IN BOARD’S REPORT

As per Companies Act ,2013, the companies have to give a web-link of annual return in Board’s report and publish the same in their websites.

SECTION 134 OF CA 2013 AND MGT-9 EXTRACT

As per CA, 2013 section 134, Companies was required to prepare MGT-9 extract of Annual Return and such MGT-9 was required to file with Directors Report.

NOW , NO EXTRACT OF MGT-9 IS NEEDED TO BE PUBLISHED

Nonetheless, this provision has been amended by CAA, 2017 w.e.f. 31.7.2018 i.e. as per notification dated 31st July, 2017 provision in relation to MGT-9 has been removed from Section 134 .

TO GIVE A WEB LINK FOR ANNUAL RETURN

Thus , a new provision is added i.e. “the web address, if any, where annual return referred to in sub-section (3) of section 92 has been placed”.

Consequently, we can come to a conclusion that MGT-9 is not required to prepare by any Company if Directors Report approved in Board Meeting on or after 31st July, 2018.

Thus, as per Companies Act ,2013, the companies have to give a web-link of annual return in Board’s report and publish the same in their websites.

YET TO BE NOTIFIED BY MCA

However , this has not yet notified by the MCA as on date.

 If a Company doesn’t having website, whether it is mandatory to Prepare MGT-9?

As per Section, 134 Companies have to give the link of Annual return in Directors Report only in the condition if Company having website. However , it is silent about those companies which do not have website.

It is not clear whether companies which do not have website , what they have to do as they cannot give web-link of their Annual Return in their Board Report.

FURTHER ACTION REQUIRED BY MCA

Hence , there prevail confusion whether Companies have to give a web-link of their annual return in their Board’s report and to publish their same in their websites or not for the financial year 2018-2019.

It is submitted  that MCA to notify the above at the earliest so that the prevailing confusion over the above issueS can be resolved at the earliest.