OPPORTUNITY TO FILE DELAYED / BELATED RETURNS WITH REGISTRAR OF COMPANIES – Eshwars
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OPPORTUNITY TO FILE DELAYED / BELATED RETURNS WITH REGISTRAR OF COMPANIES

Authored by: Adit N Bhuva & Sri Vidhya Kumar.
 
NAME OF THE SCHEME:  Companies Fresh Start Scheme 2020.
 

PURPOSE OF THE SCHEME:  To provide Companies with an opportunity to make good any filing related defaults, irrespective of duration of default and make a fresh start as a fully compliant company.
 

BENEFITS UNDER THE SCHEME:

        I.

Waiver Additional filing fees waived for the period of delay.

      II.

Immunity Immunity from the launch of prosecution or proceedings pertaining to the delay associated with filings of belated documents.

   III.

Withdrawal the Registrar of Companies shall withdraw the prosecutions pending (in respect of only such defaults for which immunity is granted); and the proceedings of adjudication of penalties (in respect of only such defaults for which immunity is granted) under Section 454 of the Companies Act, 2013.

 

DURATION OF THE SCHEME:  1st April 2020 to 30th September 2020

 

SCHEME APPLICABLE TO:   Any Company which has made a default in filing any documents, statements, returns, etc including annual statutory documents, viz, DIR-3 KYC/DIR-3 KYC-WEB/e-form Active, on the MCA-21 registry.

 

SCHEME NOT APPLICABLE TO:

    • Companies against which actions for final notice for striking off the name u/s 248 of the Act has already been initiated by the Designated authority.
    • Companies which have already filed for striking off the name of the company from the Register of Companies
    • Companies which are amalgamated.
    • Companies which have filed applications for obtaining Dormant Status under section 455 of the Act before this Scheme
    • Vanishing companies
    • Where any increase in authorised capital is involved (Form SH-7)
    • All charge related documents (CHC-1, CHG-4, CHG-8 and CHG-9)
    •  

WHEN THE APPLICATION FOR IMMUNITY CAN BE MADE:

    • File returns with Registrar of Companies before 30th September 2020.
    • Make application for immunity in Form CFSS-2020 after the closure of this scheme, i.e., 30th September 2020 and after the belated returns filed under this scheme are taken on record / approved by the RoC.
    • Application for immunity has to be made before six (6) months from the date of closure of the scheme.

 
PROSECUTION LAUNCHED OR PROCEEDINGS INITIATED FOR IMPOSING PENALTIES

If Appeal filed If Appeal not filed
Withdraw the appeal – The applicant shall before making an application for issue of grant of immunity certificate with the RoC, withdraw the appeal and furnish proof of such withdrawal along with the application for grant of immunity. Extension of time to file such appeal

 

In case the last date for filing the appeal against the order of the adjudicating authority (with respect to delayed filing) under section 454(6) falls between 1st March 2020 to 31st May 2020, a period of 120 additional days is allowed with effect from such last date to all companies and their officers for filing the appeal before the concerned Regional Directors.

NA During the additional period, prosecution for non-compliance of the order of the adjudicating authority shall not be initiated against the companies or its officers.

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