Relaxations given by MCA

On account of difficulties arising due to resurgence of Covid-19 pandemic, Ministry of Corporate Affairs has issued various circulars dated 03rd May, 2021 by providing relaxations in the following:

1) Relaxation on levy of additional fees for forms due for filing during 01/04/2021 to 31/05/2021 :

The Ministry has issued Circular 06/2021 and 07/2021 allowing stakeholders to file various forms (other than a CHG-1, CHG-4 and CHG-9 form) due for filing during the period from 01/04/2021 to 31/05/2021 without additional fees till 31st July, 2021.

2) Relaxation of time for filing forms related to creation or modification of Charges:

Central Government on request of Ministry has allowed relaxation of time and condone the delay in filing forms related to creation/modification of charges.

Relaxation is given in respect of filing of Form CHG-1 and CHG-9 by the company or a charge holder , where date of creation or modification of charge is

  • before 01/04/2021 but time limit of filing is not expired as per the Companies Act, 2013 as on 01/04/2021

or

  •  falls between 01/04/2021 to 31/05/2021

then the first day after the date of creation/modification of charge shall be consider as 01.06.2021 for the purpose of counting the number of days within which the form is required to be filed.

Fees applicable in this regard :

  • For the charge created or modified before 01.04.2021 but the timeline for filing such forms has not expired as on 01.04.2021 then:

If the form is filed on or before 31.05.2021, the fees payable as on 31.03.2021 shall be charged, if the form is filed thereafter, the days will be counted by adding the number of days beginning from 01.06.2021 and ending of the date of filing plus time period lapsed from the date of creation of charge till 31.03.2021.

  • For the charge created or modified during the period of 01.04.2021 to 31.05.2021 then:

If the form is filed before 31.05.2021, the normal fees will be applicable and if form is filed thereafter, the period will be counted from the date 01.06.2021 till the date of filing of form for the purpose of calculation of fees.

This relaxation is not applicable to following:

  • Forms CHG-1 & CHG-9 is already been filed before the date of 3rd May, 2021.
  • The timeline of form has already been expired
  • The timeline of for expires at future date but exclusion for the timeline as mentioned above.
  • Filing of Form CHG-4 for satisfaction of charge.

3. Relaxation in Gap between two Board Meetings:

MCA has extended the interval between two board meetings by a period of 60 days for first two quarters of Financial Year 2021-22. Earlier the gap between two subsequent board meetings was 120 days but now it has been extended for further 60 days (i.e 120 days + 60days =180 days) during the Quarters April to June, 2021 and July to September, 2021.

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