ONE-TIME OPPORTUNITY TO FILE ALL BELATED DOCUMENTS WITH MCA- COMPANY LAW FRESH START SCHEME, 2020
One-time opportunity to file all belated documents with mca- MCA issued a General Circular No. 12/2020 dated 30/03/2020, wherein MCA notified Company Law Fresh Start Scheme, 2020. The Scheme is published to provide benefit to all companies who have made default in filing of various forms as required under Companies Act 2013. The circular has been made effective from 1st April 2020 and shall be valid till 30th September 2020. Though “Companies Fresh Start Scheme, 2020” an opportunity has been provided to all the companies which have not filed documents as specified below to make their default good as become fully compliant.
It is to be noted that all belated documents, as prescribed hereinbelow, can be filed without paying any additional fees.
The Scheme is known as “Company Law Fresh Start Scheme, 2020” (“CFSS 2020”). The CFSS 2020 Scheme has been notified through General Circular No. 12/2020 dated 30.03.2020 by MCA. This CFSS 2020 Scheme will come into effect from 01st of April, 2020 and will be valid till 30th September, 2020.
BENEFITS PROVIDED UNDER THE CFSS 2020 SCHEME
a). No levy of additional fees- Only fees of the form will be payable.
b). No launch of any prosecution against the Company taking the benefit under the CFSS 2020 Scheme
c). Non-levy of any further penalty or late fees
Further, this CFSS 2020 Scheme also provides an opportunity to the inactive companies to get the Companies declared as a “Dormant Company.” This can be done by filing a simple application under this CFSS 2020 Scheme at normal fees. No more compliance is required.
Any Defaulting Company which has made default in filing of documents, statement, returns forms as required to be filed under the Companies Act, 2013 have been provided one-time opportunity to make the default good.
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*Here Defaulting Company means Companies defined under Section 2(20) of the Companies Act, 2013 which has made default in filing of various forms as required to be filed under the Companies Act, 2013
CFSS 2020 Scheme shall apply on following forms:
Form MGT-7, Form AOC-4 and all other forms except Form SH-7 ie., form for increasing Authorized Capital and Charge related form
Non-applicability of CFSS 2020 scheme:
The CFSS 2020 scheme is not applicable in a few cases:
a). Company in the process of strike-off i.e., the Company which has filed Form STK 2
b). If the name of the Company has been published by the in the list of strike off in accordance with section 248 of the Companies Act 2013.
c). Companies that have amalgamated
d). Dormant companies u/s 455 of the Companies Act 2013
e). Vanishing Companies.
- f) To forms like Form SH-7 for the increase in authorized capital and Charge related forms (forms CHG-1, forms CHG-4, forms CHG-8 or forms CHG-9).
Last but not the least, Directors who’s DINs marked as “Deactivated’ in the records of MCA due to non-filing of Form DIR-3KYC/Form DIR-3 KYC-Web and those Companies whose compliance status has been marked as “ACTIVE non-compliant” due to non-filing of Active Company Tagging Identities and Verification (ACTIVE) eform can also take the benefit of the Scheme and can file respective forms without any filing fee which was INR 5000/INR 10000 respectively between the period the Scheme is in force.