ICSI has made a representation to Ministry of Corporate Affairs and requested for extension of due dates of Companies Fresh Start Scheme, 2020 (CFSS- 2020), LLP Settlement Scheme, 2020, Scheme for relaxation of time for filing forms related to creation or modification of charges under the Act, Holding Board Meeting through Video Conferencing and Companies to hold EGMs or transact business through postal ballots through VC or OAVM. Full Text of their representation is as follows-
THE INSTITUTE OF Company Secretaries of India
IN PURSUIT OF PROFESSIONAL EXCELLENCE
Statutory body under an Act of Parliament
(Under the jurisdiction of Ministry of Corporate Affairs)
MCA: December: 2020
24th December, 2020
Shri Rajesh Verma, IAS
Secretary
Ministry of Corporate Affairs
Government of India
Shastri Bhawan
Dr.Rajendra Prasad Road
New Delhi -110001
Subject: Request for extension of timelines due to COVID-19-reg.
Respected Sir,
We extend our heartfelt gratitude towards to the Ministry of Corporate Affairs (MCA) for having extended various relaxations to the corporate and other stakeholders in the times of Covid 19. As you are kindly aware that impact of Covid 19 pandemic is not yet over and the stakeholders are still facing significant challenges in undertaking the functions smoothly.
Considering the ongoing situation, we request you to consider further relaxation in due dates of the following compliances:
S. No. | MCA Notification / Circular no. & Date | Detail | Suggestion |
1. | General Circular No. 12/2020 dated 30th March, 2020General Circular No. 30/2020 dated 28th September, 2020 |
Companies Fresh Start Scheme, 2020 (CFSS- 2020) The Companies Fresh Start Scheme was introduced on the 1st April, 2020. The scheme offered one-time opportunity to the defaulting companies to file the pending documents without charging higher additional fees on any delay with the MCA. The said scheme was extended till 31st December, 2020. |
The scheme may extended upto 31st March, 2021. |
2. | General Circular No. 13/2020 dated 30th March, 2020General Circular No. 31/2020 dated 28th September, 2020General Circular No. 37/2020 dated 9th November, 2020 |
LLP Settlement Scheme, 2020
The LLP Settlement Scheme was introduced on the 1st April, 2020. The scheme offered one-time opportunity to the defaulting LLPs to file the pending documents without charging higher additional fees on any delay with the MCA. The said scheme was extended till 31st December, 2020. |
The scheme may extended upto 31st March, 2021 and accordingly the due date for filing belated documents may be extended |
3. | General Circular No. 23/2020 dated 17th June, 2020
General Circular No. 32/2020 dated 28th |
Scheme for relaxation of time for filing forms related to creation or modification of charges under the Act
The scheme is available which granted relaxation in filing of Form No. CHG-1 and Form No. CHG9 by a company or a charge holder which has been extended till 31st December, 2020. |
The period may be extended upto 31 stMarch, 2021. |
4. | MCA Notification no. GSR 186 (E) dated 19th March, 2020
MCA Notification no. 395(E) dated 23rd June, 2020
MCA Notification no. G.S.R. 590(E) dated September 28, 2020 |
Holding Board Meeting through Video Conferencing
In terms of the provisions of Rule 4 of the Companies (Meetings of Board and its Powers) Rules, 2014, certain matters at the Board Meeting shall not be dealt with in any meeting through video conferencing or other audio-visual means. The said provisions were relaxed and such matters were allowed to be conducted through Video Conferencing till 31st December, 2020. |
This relaxation may be extended up to 31st March, 2021. |
5. | General Circular No. 14/2020 dated 8th April, 2020
General Circular No. 17/2020 dated 13th April, 2020 General Circular No. 22/2020 dated 15th June, 2020 General Circular No. 33/2020 dated 28th September, 2020 |
Companies to hold EGMs or transact business through postal ballots through VC or OAVM
The MCA has allowed companies to conduct their EGMs through VC or OAVM or transact items through postal ballot in accordance with the framework provided in the Circulars upto 31st December, 2020. |
This relaxation may be extended up to 31st March, 2021. |
We hope that the above submissions which are on account of the difficulties and hardship faced by the stakeholders would be considered favorably. We shall be pleased to provide any further information in this regard on hearing from your goodself.
Thanking You,
Yours faithfully,
(CS Asish Mohan)
Secretary
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