The ministry of corporate affairs (MCA) has in furtherance with the MCA Circular No. 10/2020, come up with the ‘Companies Fresh Start Scheme 2020’ as Government of India’s efforts to provide relief to law abiding companies and Limited Liability Partnerships (LLPs) in the wake of COVID-19, to enable companies make good any filing-related defaults, irrespective of duration of default, and make a fresh start as a fully compliant entity. As per the Scheme companies have to pay ONLY NORMAL FEES of the forms WITHOUT ANY ADDITIONAL FEES.
The Companies Fresh Start scheme (Circular 12/2020 dated 30.03.2020) and modified LLP Settlement Scheme (Circular 13/2020 dated 30.03.2020) incentivize compliance and reduce compliance burden during the unprecedented public health situation caused by COVID-19.
The scheme will be provided during the period starting from 1st April, 2020 and ending on 30th September, 2020.
There is no fee payable for this Form CFSS-2020.
Provided, no immunity shall be given in the following matters:
This scheme shall not apply in the following cases: –
> To any company against which Final notice for striking off the name of the company under section 248 of the companies act, 2013 already issued by the designated authority.
> Where the company has already made an application for striking off the name of the company from Registrar of
> To companies which have amalgamated under the scheme of compromise &
> Where applications have already filed for obtaining Dormant status under section 455 of the companies act, 2013 before the scheme
> To Vanishing Companies
> Documents related to Increase in authorised share capital (FormSH-7)
> Charge related documents (CHG-1, CHG-4, CHG-8 &CHG-9)
Scheme for Inactive Companies:
The defaulting inactive companies while filing pending form under scheme simultaneously can apply for the following:
Q 1. When can the Form CFSS 2020 can be filed?
Ans: This Scheme is available during the period starting from 1st April 2020 till 30th September,2020.
Q 2.Which Forms can be filed under this Scheme?
Ans: All the forms which were not filed on their due dated can be filed under this scheme EXCEPT:
Q 3. Which companies are eligible to file Form under this Scheme?
Ans: Any ‘defaulting company’ is permitted to file belated documents which were due for filing on any given date in accordance with the provisions of the scheme.
Q 4. What is the ‘defaulting Company’?
Ans: Defaulting company means a company defined under the companies act 2013, and which has been made a default in filing of any of the documents, statements, returns etc. including statutory documents on the MCA Registry.
Q 5. Who is the Designated Authority?
Ans: Designated Authority means the Registrar of companies having jurisdiction over the registered office of the company.