Get a Quote
Get a Quote and Find Services to Fit Your Needs 50000+ Satisfied Clients
5000+ Licenses & Registration
15 Branches across India
75 Years + Combined experience
MGT 14 full form in company law is Management 14. MGT 14 is a specific MCA form that is used for filing resolutions with the Registrar of Companies (ROC). If you want to have an in-depth understanding of what this form is and how to file it correctly, then this blog post will serve as a guide for you!
Form MGT 14 is a document that a company submits to the Registrar of Companies to report resolutions/agreements passed by its board of directors/shareholders during a board meeting or general meeting. This form must be filed within 30 days in line with Section 117(1) of the Companies Act 2013.
The purpose of MGT-14 form is to report resolutions passed by a company during its meetings like those held by the Board of Directors, Shareholders or Creditors. Whenever a resolution is passed at these meetings, the company is required to file the resolution details with ROC using MCA MGT-14 form. This filing must be done within the prescribed period to ensure legal compliance.
According to Section 117, whenever a company passes a resolution in a meeting, it must file the resolution with the ROC within 30 days using Form MGT-14. However, certain resolutions are exempt from this filing requirement.
Companies don't need to file MGT-14 for resolutions related to matters listed in Section 179(3)(f) of the Companies Act 2013, which are further explained in Rule 8 of the Companies (Meetings of Board and its Powers) Rules 2014.
This includes resolutions passed by: (i) Banking companies (ii) NBFCs registered with the Reserve Bank of India and (iii) Housing finance companies registered under the National Housing Bank Act 1987.
These companies are not required to submit MGT-14 for resolutions related to granting loans, providing security, or offering guarantees in the ordinary course of business.
Under Section 117(3), MGT-14 form filing must be done in case of the following resolutions and agreements:
Special resolutions;
Resolutions that have been agreed to by all the members of a company, but which, if not so agreed to, would not have been effective for their purpose unless they had been passed as special resolutions;
Any resolution of the Board of Directors of a company or agreement executed by a company, relating to the appointment, re-appointment or renewal of the appointment, or variation of the terms of appointment, of a managing director;
Resolutions or agreements which have been agreed to by any class of members but which, if not so agreed to, would not have been effective for their purpose unless they had been passed by a specified majority or otherwise in some particular manner; and all resolutions or agreements which effectively bind such class of members though not agreed to by all those members;
Resolutions requiring a company to be wound up voluntarily passed in pursuance of section 59 of the Insolvency and Bankruptcy Code, 2016;
Resolutions passed in pursuance of sub-section (3) of section 179.
When you submit MGT-14 on MCA portal, you need to upload a few essential documents such as:
Copy of the Resolution or Agreement: This the main document while filing Form MGT-14. The copy of Resolution/Agreement should include the actual resolution details passed by the company.
Explanatory Statement: This document should offer a clear, detailed explanation of the resolution/agreement passed by the company and outline its purpose.
Altered Articles: If the resolution results in any changes to the Articles of Association, you must attach a copy of the updated articles.
You can download MGT-14 form by following the steps below:
Step 1: Visit the official MCA portal.
Step 2: Once you are on the homepage, you must login by entering User ID and password.
Step 3: After you have logged in, go to the MCA services tab.
Step 4: Now, click on the “Company e-Filing” option and then on ‘Compliance Services’. Afterwards, choose “MGT-14 - Resolutions and Agreements u/s 117”
Step 5: Thereafter, a new page will appear for displaying the MGT 14 form. You can then save the form in PDF format.
After downloading the form, you can then fill it out and file it on the MCA portal.
You can file MGT-14 on the MCA portal by following the steps outlined below:
First and foremost, you need to access the official website of the Ministry of Corporate Affairs (MCA).
Now, you need to click on the Login button on the top right corner of the homepage. Enter your login credentials, and then proceed to click on the ‘Login’ button. In case you do not already have an account, you will have to create one by clicking on the Register option, and completing the registration process.
Now, you need to download the MGT-14. You can follow the instructions mentioned in the previous section of this blog post to download the MGT-14 form.
In this step, you need to complete the form with all the relevant information, including company information, details of the resolution and explanatory statements. Make sure you fill all the mandatory fields and attach all the necessary documents along with the form.
You must navigate to the “Upload e-Forms” section. For this go to MCA Services, then go to the “e-filing” section. There you will find, “Upload e-Forms” section.
Now, choose “Normal Forms” so that you can upload the standard forms. Thereafter, click on the “Browse” button to locate and choose your saved Form MGT 14 from your device.
Once you choose the form, click on the “Upload” option. The form will be verified and checked for any errors by the MCA system. During this process, make sure you have a stable internet connection to avoid any interruptions.
A Service Request Number (SRN) will be generated by the system after you successfully upload the form. Your form submission is uniquely identified by this SRN. The SRN must be noted down or saved for future reference in order to make the payment and monitor the progress of your form.
Select the "Payments" section on the MCA portal. To continue with the payment, enter the SRN that was generated during the upload procedure. Choose a payment option, such as debit card, credit card, net banking, etc, and finish the transaction. Make sure you receive a payment confirmation.
A confirmation message will appear on the screen following a successful payment. Additionally, an acknowledgement receipt verifying the submission and payment of Form MGT-14 will be sent to your email address.
Following confirmation of payment, the RoC will proceed to process the submitted form.
The SRN on the MCA portal allows you to monitor the progress of your form submission.
If a company fails to file Form MGT-1 with the ROC within the prescribed period of 30 days, there's a penalty. According to Section 117(2) of the Companies Act, 2013, the company will face a minimum fine of Rs. 10,000.
On top of that, there is an additional Rs. 100 for each day they delay filing, and this can go on until the fine reaches a maximum of Rs. 2,00,000 for the company itself. If any defaulting officer (including the liquidator of the company) is responsible for the delay, they can be fined up to Rs. 50,000.
When a company passes a resolution, it must submit the details of the resolution to the Registrar of Companies, Ministry of Corporate Affairs. The details must be submitted using a special form known as MGT Form 14, which can be accessed online through the MCA portal. By submitting it on time, the company can avoid penalties and legal repercussions.
.png "Registrationwala banner")
Q1. What is the due date for filing MGT-14?
A. You must file MGT-14 within 30 days from the date of passing the resolution/agreement.
Q2. Where can I file MGT-14?
A. You can file MGT-14 on the official Ministry of Corporate Affairs (MCA) website.
Q3. Does a sole proprietorship need to file MGT-14?
A. No, a sole proprietorship does not need to file MGT-14 because it is not governed by the Companies Act 2013.
Q4. Can I file the MGT-14 form offline?
A. No, you cannot file MGT-14 offline. You must file it online through the MCA portal.
Q5. When does a company need to file MGT-14?
A. A company needs to file MGT-14 for resolutions passed by the board or shareholders under the Companies Act 2013.
Want to know More ?
