MGT-1 is a crucial legal document required for companies incorporated in India; specifically, it serves as an official notice for a Board meeting.
Here's a breakdown:
- Purpose: To formally notify the Registrar of Companies (RoC) about an upcoming Board meeting.
- Legal Requirement: Filing Form MGT-1 is a statutory obligation under the Companies Act, 2013 and related rules.
- Timing: The form must be filed with the RoC before the Board meeting takes place.
- Content: The form typically includes details about the date, time, venue, and agenda of the Board meeting.
In essence, MGT-1 ensures transparency and compliance by informing the regulatory authorities about important corporate decisions being considered by the company's Board of Directors.
