Company Law Fresh Start Scheme, 2020 announced by MCA is A step by MCA to allow corporates to make a ‘Fresh Start’. MCA issued General Circular No. 12/2020 dated 30th March, 2020 for the benefit of all Companies.

This Scheme Shall be start from 01st April, 2020 and end on 30th September, 2020.

FAQ’s

Q 1. Whether this Scheme applicable for Earlier Years pending annual Filings?

Ans: This CFSS is completely applicable for completion of earlier pending Annual Filings without additional fees.

Q 2. On which type of forms this scheme shall be applicable

Ans: This scheme shall be applicable on All The Forms Except:

– SH-7 for increase in authorized capital

– Charge related form (CHG-1, CHG-4, CHG-8 or CHG-9)

Q 3. What shall be per day additional fees as per Scheme?

MCA shall not charge any additional fees in the given time period of 6 Months. Only Normal Fees of the forms shall be required to pay by the Companies.

Q 4. What is meaning of defaulting Company?

Ans: Defaulting Company means a Company defined under Companies Act, 2013 and Companies Which has made a default in filling of

– Any of Document,

– Any of Statement,

– Any of Return etc

Including Annual Statutory Document

Q 5. From which dates Companies will allow to file forms under this Scheme?

Ans: Companies shall avail this scheme w.e.f. 1st April, 2020 and can file all pending forms till 30th September, 2020

Q 6. What is the cut off dates of forms falling under this scheme?

Ans: Companies are allowed to file all the pending forms with ROC irrespective of any cut off date.

Q 7. Whether this scheme applicable for filing of DIR-3 KYC?

Ans: Yes, This scheme allow to file DIR-3 KYC without additional fees if any one is pending.

Q 8. Whether this scheme shall be applicable for Forms of Foreign Company Like FC-3, FC-4 etc.

Ans: Scheme shall be applicable only on the forms of Company. Definition of Company doesn’t include Foreign Company.

Q 9. Whether Strike off Company can take benefit of this scheme?

Ans: If Strike off Company wants to take benefit of CFSS then such company first have to revive such company from NCLT and then can apply for CFSS for pending filing of forms

Q 10. How to take benefit of CFSS, where all the directors are Disqualified?

Ans: 1. Company first have to appoint new directors by promoter from backend of ROC.

2. After appointment of new director company can file forms under this scheme.

Q 11. If Company file MGT-14 after 300 days under this scheme, Whether Directors have to file application for condonation of Same?

Ans: During the period of CFSS, company can file MGT-14 without any additional fees. However, Company is required to do condonation before filing of form

Q 12. When company have to file this CFSS form?

Ans: This form is required to file by Company after closure of Scheme.

Q 13. Whether a Dormant Company can take benefit of CFSS?

Ans: Dormant Company can take benefit of CFSS. Bur for that purpose first of all Dormant company have to file form with roc for change in status from dormant to Active.

Q 14. If company is under CIRP or liquidation status can take benefit of Scheme?

Ans: Yes can take benefit of Scheme.

Q 15. Whether active Form can file under this scheme without additional Fees?

Ans: Yes even active form is also eligible for this scheme. Active form can be file without additional fees under this scheme.

Author can be contacted at csdiveshgoyal@gmail.com.

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