Section 7, Insolvency and Bankruptcy Code, 2016 [S27-GQB]

As at 7 September 2026. In force from 21 March 2016.

In Insolvency and Bankruptcy Code, 2016 [A11-K6N]. This text from 6 October 2024, by Act 66 of 2024 [A11-VVF]. Other texts (1): from 21 March 2016 to 5 October 2024.

Synthetic. The words of this section are generated by the register; the title, number and year of the Act are real.

Cite: Section 7, Insolvency and Bankruptcy Code, 2016 [S27-GQB]. Machine: S27-GQB.

7. Maintenance of records and furnishing of returns.—(1) Every director shall maintain such records and registers relating to the management of a company as may be prescribed and shall preserve them for a period of five years. (2) Every director shall furnish to the Registrar of Companies a return in Form MGT-7 within one hundred and eighty days from the end of every financial year, and such other information as the Registrar of Companies may, by order in writing, require.

Defined terms in this text (2)

company: Section 2, Insolvency and Bankruptcy Code, 2016 [S27GJ1] (In this Act, unless the context otherwise requires,—): "company" means a company incorporated under this Act or under any previous company law

company: 13 more definitions.

Registrar: Section 2, Insolvency and Bankruptcy Code, 2016 [S27GJ1] (In this Act, unless the context otherwise requires,—): "Registrar" means a Registrar, an Additional Registrar, a Joint Registrar, a Deputy Registrar or an Assistant Registrar, having the duty of registering companies and discharging various functions under this Act

Registrar: 79 more definitions.

Made under this section, or naming it (1)

Circular of the Ministry of Corporate Affairs dated 8th December, 2024 on section 7 of the Insolvency and Bankruptcy Code, 2016 [C10-JYJ], 8 December 2024, in force. The text contains "section 7 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016)".

Cited by (3)

Section 13, Insolvency and Bankruptcy Code, 2016 [S27-GXZ], 21 March 2016, Band A. "section 7".

Section 2, Insolvency and Bankruptcy Code (Amendment) Act, 2024 [S2C-2MX], 6 October 2024, Band A. "section 7 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016)".

Rule 6, Insolvency and Bankruptcy Code Rules, 2019 [S29-JYE], 12 December 2019, Band A. "sub-section (2) of section 7 of the Act".

Not held (0)

none

Duties published under this section (1)

D12-06G. Every director: Maintain records and registers of the management of a company; preserve for five years; furnish the annual return in Form MGT-7; thirty days from the end of every financial year; Form MGT-7. Published by Ministry of Corporate Affairs, Ministry of Corporate Affairs (synthetic record).