Section 8 Company is a Company Registered under Section 8 of Companies Act,2013 for the objects of promoting commerce,art, science,sports,education,research,social welfare,religion,charity, protection of environment or any such other object and intends to apply its profit,if any,in promoting its objects and prohibited distribution of any dividend to its members.
According to Section 101(1) of Companies Act,2013 a General Meeting of a company may be called by giving not less than clear fourteen days notice.Requirement of maintaining the minutes is exempted in case of Section 8 Company except minutes can be recorded within 30 Days of conclusion of every meeting in case where the Articles of Association provide for confirmation of minutes.
Mandatory Forms required to be Filed:-
- Form ADT-1 for appointment of Statutory Auditor is required to be filed within 15 days of appointment.
- Form AOC-4 for filling Financial Statements (i.e.Balance Sheet & Statement of P&L) and a Board Report within 30 Days of conclusion of Annual General Meeting
- Form MGT-7 for filling Annual Return within 60 days of conclusion of Annual General Meeting
Annual Compliance regarding conducting of Board Meeting:-
- Board meeting of Section 8 Company shall be conducted atleast once in Six Calender Months.
- Form MBP-1 for disclosure of Interest of Director to be filed by every director at First Board Meeting of every Financial Year.
| Forms | Attachments |
| Form AOC-4 | Signed Auditor’s Report, Signed Financial statements, Signed Board Report, Any other Attachment |
| Form MGT-7 | List of Shareholders & Debenture holders, Copy of MGT-8,if available, Any other Attachment |
| Form ADT-1 | Copy of Intimation Given by Company, Copy of written consent given by Auditor, Any other Attachment |
| Form DIR-3 KYC | Pan Card, Aadhar Card |
A List of Disclosures to be given by Section 8 Company is as follows:-
- the web address of company where Annual Return of Company is placed
- number of meetings of board
- Directors’ Responsibility Statement
- details of fraud which are not reportable to Central Government as per Section 143 (12) of Companies Act,2013
- a statement on declaration given by independent director under Section 149 (6) of Companies Act,2013
- explanation or comments by the board on every qualification, reservation or adverse remark made by auditor in his report and by secretarial auditor in his report
- particulars of loans, guarantee or investment under Section 186
- particulars of contract or arrangement with related party under Section 188
- State of Company Affairs
- the amount,if any, which it proposes to carry to reserves and recommends to pay dividend
- material changes and commitments which affects the financial position of Company
- the conservation of energy, technology absorption, foreign exchange earnings and outgo
- a statement indicating development and implementation of risk management policy
- details about development and implementation of Corporate Social Responsibility
- Any other Matter as may be prescribed
For any further queries or requirements contact
Team
Compliance Arena
info@compliancearena.in
8447773833