SECTION 89(6) OF THE COMPANIES ACT, 2013 PENALTY FOR DELAY IN MGT‑6 FILING
WHICH COMPANY HAS TO FILE FORM MGT-6
Form MGT-6 is an important document under Section 89 of the Companies Act, 2013, that must be filed with the registrar to disclose the persons who are listed as shareholders in the registered members list but have no beneficial interest in shares. This section requires all such companies to file Form MGT-6.
NON-BENEFICIAL OWNERSHIP OF SHARES.
The Companies Act requires such companies to file Form MGT-6 within 30 days from the date they received a declaration from a registered member about the non-beneficial ownership of shares.
SECTION 89(7) OF THE COMPANIES ACT
Under section 89(7) of the Companies Act, if a company does not file the form within the required time, it and the responsible officer will be liable to pay a penalty.
FOLLOWING IS THE TABLE SHOWING PENALTY FOR DELAY IN FILING FORM MGT-6
This highlights compliance is paramount objective of a company. By complying various provisions, company and its directors can avoid unnecessary penalties.
R V SECKAR , FCS , LLB 79047 19295
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