1. Objective of Companies Fresh Start Scheme (CFSS), 2020:

An opportunity to companies to complete their pending compliances by filing necessary forms including annual filings with MCA by paying normal fees and without any additional fees, penalty /other proceedings for such delay.

2. Validity Period of Companies Fresh Start Scheme (CFSS), 2020

Valid from 01-April-2020 till 30-Sep-2020.

3. Filings covered under Companies Fresh Start Scheme (CFSS), 2020

  • Annual statutory compliance i.e. Annual Return and Financial Statements
  • Other Statements, documents, returns ,

4. Reliefs available for diff. scenario

SI No Scenario Reliefs
 

A.

 

Filing of belated returns/forms by defaulting companies

  • No additional fees
  • Immunity from initiation of prosecution/proceedings for imposing penalty on account of delay in filing
 

B.

 

Inactive companies

  • Get their companies declared as ‘dormant company’ by filing simple application at a normal fee
  • To continue on the register of companies with minimal compliance requirements
 

C.

Appeal (against         penalty proceedings) pending before a  competent court or authority Companies can opt for this scheme by withdrawing the appeal filed
 

 

D.

 

Order imposing penalty proceedings passed but appeal could not be filed by companies

  • Additional time of 120 days allowed for filing appeal, if last date for filing the appeal falls between 01-Mar- 2020 to 31-May-2020
  • During such period, no proceedings shall be initiated for such delay in filing

5. Application for issue of immunity certificate under this Companies Fresh Start Scheme (CFSS), 2020

  • An application for seeking immunity in respect of belated documents/forms filed under this scheme shall be filed through online Form CFSS-2020 after the date of closure of the scheme and after the documents taken on file/record or approved by the designated authority but not after the 6 months from the closure of the
  • No fee shall be payable for filing this

6. Non-applicability of the Companies Fresh Start Scheme (CFSS), 2020

Immunity under this scheme shall not apply:

  • To Companies against which action for final notice for striking off the name u/s 248 of the Act has already been initiated
  • Where any application has already been filed by the companies for action of striking off the name of the company from the register of companies
  • To companies which have amalgamated under a scheme of arrangement or compromise under the Act
  • Where applications have already been filed for obtaining dormant status u/s 455 of the Act
  • To vanishing companies
  • Where any increase in authorized capital is involved (Form SH-7) and also charge related documents (CHG-1, CHG-4, CHG-8 and CHG-9)
  • In the matter of any appeal pending before the court of law and in case of management disputes of the company pending before any court of law or tribunal
  • In case any court has ordered conviction in any matter or an order imposing penalty has been passed by an adjudicating authority under the Act and no appeal has been preferred

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