1. Every listed public company shall prepare in the prescribed manner a report on each annual general meeting including the confirmation to the effect that the meeting was convened, held and conducted as per the provisions of this Act and the rules made there under.
2. The company shall file with the Registrar a copy of the referred to in subsection (1 ) within thirty days of the conclusion of the annual general meeting with such fees as may be prescribed, or with such additional fees as may be prescribed, within the time as specified, under section 403.
3. If the company fails to file the report under sub-section (2 ) before the expiry of the period specified under section 403 with additional fee, the company shall be punishable with fine which shall not be less than one lakh rupees but which may extend to five lakh rupees and every officer of the company who is in default shall be punishable with fine which shall not be less than twenty-five thousand rupees but which may extend to one lakh rupees.
Legal Commentary & Landmark Judgments: Section 121
Section 121 of the Companies Act, 2013 imposes an exclusive statutory duty on listed public companies to prepare and file a formal compliance report on the conduct of their annual general meeting with the Registrar of Companies within thirty days in Form MGT-15.
In proxy battles and takeover litigation involving listed companies, obtain Form MGT-15 from the MCA portal immediately upon filing. Scrutinize the disclosures against Secretarial Standard-2 (SS-2) and the scrutinizer's report. Any material discrepancy between the chairman's declaration in Form MGT-15 and the actual video recording or scrutinizer certificates forms the primary ground to challenge the validity of AGM resolutions before the NCLT.