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MGT-8 Applicability and Certification by Practising Company Secretary
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If you run a private limited company in Rajasthan or anywhere else in India, you already know how important it is to follow company laws. One key part of compliance for many companies is something called Form MGT-8. This form is connected to the Annual Return and needs to be certified by a Practicing Company Secretary (PCS).
In this blog, we will break down what MGT-8 is, when it is needed, and why it matters for your business. We’ll explain it so that even if you are not from a legal background, you can understand it clearly!
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What is Form MGT-8?
Form MGT-8 is a certificate given by a Practicing Company Secretary. It confirms that the Annual Return of a company (filed in Form MGT-7) is correct and complies with the rules under the Companies Act, 2013.
Understand it with this example:
Just like a doctor gives you a health certificate after a checkup, a PCS checks your company’s filings and gives you a “certificate of health” through MGT-8.
It is especially important for companies that need to maintain clean and updated compliance records. If you are serious about private limited company compliance, you must pay close attention to MGT-8.
When is MGT-8 Required?
Now, you might be wondering — Is my company required to get MGT-8 certified?
Here’s when MGT-8 becomes mandatory:
- If your company’s paid-up share capital is ₹10 crore or more, or
- If your company’s turnover is ₹50 crore or more.
This rule applies to both private limited companies and public companies.So, if your business is growing fast or if you are planning to register your business in Rajasthan, you must be aware that MGT-8 will soon be part of your yearly compliance checklist.
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Why is MGT-8 Important?
MGT-8 is not just a formality — it’s about building trust.
When your company’s Annual Return is certified by a PCS, it gives assurance to government authorities, investors, banks, and other stakeholders that your company is operating legally and responsibly.
Especially for MSMEs planning to hire a personal CFO or expand, having clean compliance records (including MGT-8 certification) makes it easier to get funding, loans, and partnerships.
Ignoring MGT-8, when required, can lead to penalties and legal problems. No one wants extra trouble when it’s avoidable, right?
Who Can Issue MGT-8?
Only a Practising Company Secretary can issue an MGT-8 certificate.
This means the person must be a registered member of the Institute of Company Secretaries of India (ICSI) and must have a valid Certificate of Practice.
It is important to work with an experienced PCS because they will check various records, like:
- Shareholding details
- Meeting records
- Statutory registers
- Filing history
- And other important documents
If any mistake is found during this review, it can be corrected before final certification.
In short, a PCS acts like a safeguard to ensure everything is legally correct.
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Key Points Checked Before Issuing MGT-8
Before giving the MGT-8 certificate, the Company Secretary will check:
- Whether all Board Meetings and Shareholders Meetings were properly held.
- Whether the company filed all necessary documents like MGT-7, AOC-4, DIR-12, etc.
- Whether the Directors, Auditors, and Shareholders’ details are updated.
- Whether the company has maintained its statutory registers.
- Whether there are any violations of the Companies Act, 2013.
For growing companies and startups seeking virtual CFO services for MSME, these checks are important for strategic planning and healthy business practices.
How to Ensure Smooth MGT-8 Certification?
Here are some easy tips to make sure your company gets MGT-8 certification smoothly:
- Keep all Board Meeting minutes and Annual General Meeting records properly maintained.
- Regularly update statutory registers like the Register of Members and Register of Directors.
- Make sure all ROC filings are done on time.
- Regularly consult your Company Secretary or Virtual CFO for legal updates.
If you are expanding your private limited company in Rajasthan, start focusing on compliance from day one. This saves a lot of time and money later.
What Happens if You Miss MGT-8?
If your company fails to obtain MGT-8 certification (when required):
- You may face penalties under the Companies Act.
- It could create legal trouble during audits or inspections.
- Your company’s credibility can be questioned.
- Loan approvals and investor funding can get delayed or rejected.
In short, missing MGT-8 can seriously damage your business reputation.
That’s why partnering with experts for private limited company compliance is always a smart move.
Why Businesses Choose Professional Help?
As a business owner, your focus should be on growing your business, not running behind compliance.
If you are starting a business or scaling your existing company, having the right professionals in your team can make the journey smooth.
You can even hire a personal CFO or get virtual CFO services for MSME to handle financial compliances alongside legal compliances.
Conclusion
MGT-8 certification is a crucial step for businesses that have crossed a certain size.
It is not just a legal formality, but a seal of trust for your company.
If you are serious about your company’s future, then complying with MGT-8 requirements is non-negotiable.
Focus on building your business while leaving compliance to experts!
Why Choose E Accountax Manager?
At E Accountax Manager, we help businesses stay compliant and stress-free.
Our experienced team of Company Secretaries and Virtual CFOs ensures that your Annual Returns, MGT-8 certifications, and all ROC filings are handled accurately and on time.
We provide simple, clear advice so you can focus on what you do best — growing your business!
Consult Today!
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CA Jitendra Agarwal
CA Jitendra Agarwal, a Chartered Accountant, is an experienced Income Tax Advisor with a proven track record in tax planning and compliance.
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