Are you a Director of any Company?

Are your company Non-Compliant with RoC compliances?

Are you disqualified and yet not filled financial statement and Annual Return with RoC?

Are you confused which forms are required to be filled?

If the answer is YES, then this Article is for you…………

The Condonation of Delay Scheme, 2018 announced by the Ministry of Corporate Affairs is initially active from 1st January 2018 to 31st March 2018. Now, Government extended the scheme for another 1 month i.e up to 30th April, 2018.

Directors who were disqualified for failure to file financial statements and annual return can file MCA eCODS form 2018 to regularize compliance and avoid disqualification for a period of 5 years.

  • What is CODS-2018?

The Scheme provides for temporary restoration of DIN during the currency of the Scheme “with a view to giving opportunity for the non-compliant, defaulting companies to rectify the default” and become compliant.

  • Who are eligible to opt for e-Form CODS, 2018?

CODS-2018 is for the defaulting companies whose status in the record of the Registrar of Companies (ROC) is active. In other words, the scheme is not applicable for those companies which have been struck off/ whose name has been removed from the record of ROC. They have to first approach NCLT for revival and then they can take benefit of CODS.

  • What are the Forms that only can be filed under CODS-2018 (Overdue documents)?
F.Y 13-14 Form 23 AC, ACA (XBRL) Balance Sheet and P & L
Form 20B Annual Return
Form 23B Appointment of Auditor
Form 66 Compliance Certificate
F.Y 14-15 Form AOC-4 Balance Sheet and P & L
Form MGT-7 Annual Return
ADT-1 Appointment of Auditor (Can be appointed for 5 years)
F.Y 15-16 Form AOC-4 Balance Sheet and P & L
Form MGT-7 Annual Return
F.Y 16-17 Form AOC-4 Balance Sheet and P & L
Form MGT-7 Annual Return
CODS Condonation of delay form (Fees : Rs. 30,000/-)
  • What are the consequences of non-availing of CODS-2018?

The DIN of Directors associated with defaulting companies that have not done the below mentioned shall be liable to be de-activated on expiry of the scheme period; if

  • the overdue documents have not been filed; and
  • the e-form CODS-2018 is not filed; and
  • these are not taken on record in the MCA21 registry; and
  • are still found to be disqualified on the conclusion of the scheme.

Form eCODS can be filed by directors who were disqualified. From 1st January 2018 to 30th April, 2018, the DIN of all disqualified Directors will be temporarily re-activated. The disqualified Directors are to use the condonation of delay scheme and this window to regularize compliance. On filing eCODS form, the Director Disqualification would be removed and the DIN of the Directors would remain active even after 30th April, 2018.

Author Bio

Qualification: CS
Company: DVG & Associates
Location: Mumbai, Maharashtra, IN
Member Since: 02 Feb 2018 | Total Posts: 37
CS Dhaval Gusani is a founder of DVG & Associates, Company Secretaries and Corporate Law Professionals. He is a Commerce Graduate and an Associate Member of the Institute of Company Secretaries of India (ICSI). He has cumulative experience of more than 3 years with Listed Company, Chartered Acco View Full Profile

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Tags : Companies Act (2597) Companies Act 2013 (2369)

3 responses to “Condonation of Delay Scheme – Forms, Last date of filling and Procedures”

  1. sagar says:

    Hi Sir
    We have taken a loan Rs. 10 lakhs and received NOC from bank on 14 August 2018 till today 22-10-2018 not filed chg-4 remove roc charge
    what happend

  2. Joseph John says:

    Dear Sir
    I have two pvt ltd companies, In the first company my friend and me are the directors, with paid up capital Rs. One Lakh, formed in the F.Y 2011 – 12. We had filed ROC documents(Form 20B,23 AC, ACA and 23B) upto F.Y 12 – 13. Now the company & directors are disqualified by the ROC. I had enquired about that, i can understand that, we can file all the ROC documents and file COD for removing the disqualification. Is it correct?, If yes what are the procedure to be followed for that ?

    In the Second Company, My wife and me are directors formed in the F.Y 2012 – 13 with paid up capital Rs One Lakh. In that company We had only one Bank account opend in April 2012 with deposit of Rs 5000/- and all the amounts are spend for bank charges and Rs 2000/- paid for professional fee.Now the bank account had no balance. We had not filed any ROC documents ( Form 20B, 23B, 23AC and 23ACA )from the begining.On verification of ROC status, the company was Strike off.
    In all I cant file any documents in the ROC for the First company.
    Hence my question is what are the procedures, documents to be prepared , forms to be filed, Fee/ Penality to be paid to revive the second company and also for removing the disqualification of the first company ?
    I expect your favourable reply. Your immediate action in this regard is highly appreciable.

    Thanking You
    Yours Faithfully
    Joseph John.
    +91-9656 00 6653 / 97 4487 3228

    • CS Nisha G says:

      You need to file petition with NCLT alongwith all the Audited Financial Statements ready for filing in order to revive the companies which are Struck Off before 30.04.2018 to avail benefit of COndonation of Delay Scheme, 2018.
      For further Details you may contact
      Nisha & Associates
      Practising Company Secretaries
      csnisha@hotmail.com

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