Under Section 134(3)(c) Companies Act 2013, the BOARD'S REPORT shall include 'Extract of the Annual Return' in Form MGT-9. After the Companies (Amendment) Act 2017:
AMGT-9 has been substituted with a 100-page corporate governance disclosure under SEBI rules (cf. Companies Act 2013, Section 92(3) read with Section 134(3)(a) (post Companies (Amendment) Act 2017))
BMGT-9 extract is no longer required; the company is required to place the FULL ANNUAL RETURN on its website (if any) and reference the URL in the Board's Report — exemption for OPC and small companies
Cthe Annual Return is no longer required for any company under Section 92 of the Act (cf. Companies Act 2013, Section 92(3) read with Section 134(3)(a) (post Companies (Amendment) Act 2017))
Dthe Annual Return must be published in newspapers within 30 days of AGM (cf. Companies Act 2013, Section 92(3) read with Section 134(3)(a) (post Companies (Amendment) Act 2017))
Answer & Solution
Correct answer: B. MGT-9 extract is no longer required; the company is required to place the FULL ANNUAL RETURN on its website (if any) and reference the URL in the Board's Report — exemption for OPC and small companies
1. The Companies (Amendment) Act 2017 substituted Section 92(3) and Section 134(3)(a).
2. Section 92(3) (substituted): every company shall place a copy of the ANNUAL RETURN on the WEBSITE of the company, if any, and the WEB-LINK shall be disclosed in the Board's Report.
3. Section 134(3)(a) (substituted): the Board's Report shall include the web-link of the annual return (instead of MGT-9 extract).
4. The earlier requirement of including MGT-9 extract was dispensed with.
5. OPCs and small companies file abridged annual return in MGT-7A.
6. Hence option A is correct.
_Source: Companies Act 2013 (Act 18 of 2013), Govt. of India MCA — Companies Act 2013, Section 92(3) read with Section 134(3)(a) (post Companies (Amendment) Act 2017)_
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