Contributed By: Geetanjli Aggarwal

Email: geetanjali@simplybiz.in

 The Ministry of Corporate Affairs (MCA) launched Version 3 (V3) of its gateway for company filings on July 14, 2025. This major upgrade replaces the previous Version 2 (V2) system and modernizes how companies prepare and submit statutory documents including the Board Report. The shift promotes transparency, digitization, and accuracy through new features and stricter norms.

Transition to Fully Online Web-Based Filing

One of the transformational aspects of MCA V3 is shifting from PDF-based offline filing to a completely web-based form completion directly on the portal. This change enables:

• Real-time data validation to minimize errors during submission.
• Autosave capabilities allowing users to resume incomplete filings.
• Pre-population of fields with data linked from the company’s MCA profile, reducing manual input.

Additionally, V3 offers an offline utility for annual filings where companies can download an Excel template prefilled with some basic data, complete it offline, and upload it back for filing, blending flexibility with digital control.

Enhanced Disclosures in Board Report

MCA V3 introduces updated and more detailed disclosure norms within the Board Report filings. These include:

• Mandatory POSH Act Disclosures: Companies are now required to disclose quantitative details about sexual harassment complaints received during the year under the POSH Act, 2013. This includes the number of complaints received, how many were disposed of, and any complaints pending for more than 90 days. This disclosure moves beyond the earlier requirement of simply stating compliance with an Internal Complaints Committee (ICC), aiming to improve workplace safety and accountability.
• Maternity Benefit Act Compliance: Companies must include a statement on their compliance with the Maternity Benefit Act, 1961, emphasizing the focus on employee welfare and gender-sensitive governance.
• Employee Demographic Reporting: Board Reports must now include workforce diversity data, specifically the number of employees by gender, i.e., female, male, and transgender employees, as of the financial year-end date.

Changes introduced in E-forms

• E-Form Filing and Digitization: Filing of extracts of the Board’s Report and Auditor’s Reports (standalone and consolidated) is now mandatory in electronic format (PDF) attached with financial statement filings (AOC-4). This move promotes standardization and easier access for regulators and stakeholders.
• Debenture Holder & Shareholder Disclosures: Additional detailed disclosures and structured data filing regarding debenture holders and shareholders are now necessary as part of the Board Report annexures to improve transparency in capital structure.
• Annual Return in Form MGT-7 is web based which requires
• Submission of a current photograph of the registered office with a visible company name board.
• Geo-location tagging (latitude and longitude) of the Company’s registered office at the time of filing and at the financial year-end.
• A breakdown of promoters and key shareholders by gender, shareholding type, and Foreign Institutional Investor (FII) status.
• Detailed summaries of debentures issued, including separate filing of debenture holders

Linked and Structured Filings

Under the V3 Portal, the Extract of Board’s Report form is integrated with other related filings like financial statements (AOC-4) and Annual Returns (MGT-7). This linkage ensures consistency and completeness across the suite of corporate filings, making compliance more streamlined.

The system also supports the uploading of structured data files (Excel templates) to electronically capture detailed lists of shareholders and debenture holders, replacing previously unstructured attachments.

Offline Utility Option

To accommodate Companies preferring offline data entry, MCA V3 allows downloading a pre-filled Excel template of the Board Report form. Users can complete required details offline and then upload the completed file back into the portal. This hybrid model balances ease of use with the benefits of online validation.

Real-Time Status and Error Correction

The portal features a dedicated “My Application” dashboard, enabling users to track the status of each filing, view pending digital signature certificate (DSC) uploads, fee payments, or resubmission requests. This instant visibility reduces administrative delays and improves compliance timeliness.

Failing to comply with these new requirements can lead to form rejections or regulatory scrutiny because of incomplete or inaccurate filings.

Increased File Size and Attachment Limits

To accommodate growing data requirements, V3 increases maximum file size limits for attachments. For instance, MGT-7 (Annual Return) allows up to 300 MB for shareholder and debenture holder lists, improving feasibility for larger companies.

Conclusion

The MCA V3 portal marks a transformative step in India’s corporate compliance environment. For Board Reports, it introduces more detailed disclosure demands and a fully integrated filing process using modern digital solutions. To stay compliant, companies must be proactive in understanding and adapting to these changes—from adopting new data formats to leveraging offline utilities—ensuring smooth and error-free submissions under MCA’s enhanced framework.

These changes are aimed at fostering greater transparency and aiding regulatory monitoring of company activities.

This article is based on the latest MCA notifications, portal FAQs, and expert interpretations regarding the MCA V3 portal rollout and its impact on Board Report filings effective July 2025.

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