Comment on the following: Annual Return is a significant document in relation to the company.

Annual Return is a significant document for the stakeholders of a company as it provides a very comprehensive information about various aspects of a company. It is perhaps the most important document required to be filed by every company with the Registrar of Companies. Apart from the Financial Statements, this is the only document to be compulsorily filed with the Registrar of Companies, every year irrespective of any events/happenings in the company. While the Financial Statements give information on the financial performance of a company, it is the Annual Return which gives extensive disclosure and greater insight into the non-financial matters of the company and the people entrusted with the management of the company. Annual Return contains the following particulars in consonance with the Section 92(1) of the Companies Act, 2013: its registered office, principal business activities, particulars of its holding, subsidiary and associate companies; its shares, debentures and other securities and shareholding pattern; its indebtedness [omitted by the Companies (Amendment) Act, 2017) (Yet to be notified by CG)]; its members and debenture-holders along with changes therein since the close of the previous financial year; its promoters, directors, key managerial personnel along with changes therein since the close of the previous financial year; meetings of members or a class thereof, Board and its various committees along with attendance details; remuneration of directors and key managerial personnel; penalty or punishment imposed on the company, its directors or officers and details of compounding of offences and appeals made against such penalty or punishment; matters relating to certification of compliances, disclosures as may be prescribed; details, as may be prescribed, in respect of shares held by or on behalf of the Foreign Institutional Investors [indicating their names, addresses, countries of incorporation, registration and percentage of shareholding held by them - omitted by the Companies (Amendment) Act, 2017) (yet to be notified by CG)] and such other matters as may be prescribed.