MCA has issued a clarification on mode of filing of MGT-14 and relaxed the process as Straight Through Process mode. except in the case change of Name, change of object, resolution for further issue of capital and conversion of companies will be STP Mode.
Straight Through Processing means the ability to receive and process financial transactions from start to finish using an electronic system and without intervention of any sort. In case information is easily transferred.
General Circular 28-2014
File No.U9-2013- CL-V
Ministry of Corporate Affairs
Dated: 9th.July, 2014
Subject: clarification on form MGT-14 through STP mode.
In order to simplify procedures and with a view to ensure timely disposal of E Forms in the office of registrars of Companies and keeping in view the penal provisions for false declaration as contained in section 448 read with section 447 the following E-Forms with the conditions mentioned along with will be processed
and taken on record using the Straight Through Process mode.
|1||MGT-14||All cases except for change of Name, change of object, resolution for further issue of capital and conversion of companies will be STP Mode.|
This circular will be effective from 21.07.2074.