RELAXATION DUE TO CoVID 19 Companies Act, 2013 & LLP Act, 2008 till December 31, 2020

In this article author shall discuss about Relaxation given by MCA for Compliances under Companies Act, 2013 and LLP Act, 2008 till December 31, 2020.

MCA has relaxed Due Dates for Filing of Forms, holding of Meetings etc. MCA has issued notification/ circulars for the same on September 28, 2020.

1. Relaxation in filing of Forms with ROC:

Ministry of Corporate Affairs has issued CFSS Scheme to allowed companies to file their pending form with ROC without any additional fees and penalties till December 31, 2020.

Following are the example of forms covered in CFSS:

  • DPT-3 (for f.y. 2019-20 and any previous financial year)
  • BEN2 (if any pending for filing)
  • MSME-1 (for half year ended 31.03.2020, 30.09.2020 and any previous half year ended)
  • PAS-6 (for half year ended 30.09.2019, 31.03.2020 & 30.09.2020)
  • DIR-3 KYC (Web as well as e-form)
  • AOC-4 & MGT-7 for OPC as well as other Companies. etc

Other forms as per CFSS.

2. Relaxation in filing of Forms related to Charge Creation & Modification:

As per relaxation provide by MCA, if charge is created or modified after November 30, 2020 then such CHG-1 can be file till December 31, 2020.

However, if charge created or modified on or before November 30, 2020 then such charge form cant be file.

3. Relaxation in filing of Forms with ROC by LLP’s:

Ministry of Corporate Affairs has issued LLP Settlement Scheme to allowed LLP’s to file their pending form with ROC without any additional fees and penalties till December 31, 2020.

Following are the example of forms covered in CFSS:

  • LLP-11 (for f.y. 2019-20 and any previous financial year)
  • LLP 8 (for f.y. 2019-20 and any previous financial year)

4. Relaxation in Holding of Annual General Meeting (AGM):

Registrar of Companies has issued circulars for extension of AGM by 3 months from the due date for the financial year ended 31.03.2020.

As per provisions of Section 96(1) of Companies Act, 2013, Companies are required to hold AGM within 6 months from closure of financial year or within 15 months from last AGM whichever is earlier.

Therefore, this year companies can hold their AGM by extension of 3 month from their actual due date.

5. Relaxation in Holding of Board Meeting through Video Conferencing for Restricted Matters:

For the period beginning from the commencement of the Companies (Meetings of Board and its Powers) Amendment Rules, 2020 and ending on the 31st December, 2020, the meetings on matters referred to in sub-rule (1) (eg. Approval of Financial. Statement) may be held through video conferencing or other audio-visual means in accordance with rule 3.”

6. Holding of EGM/ AGM through Video Conferencing:

MCA has given relaxations, which provides Clarification on Passing Ordinary and Special Resolutions by Companies in EGM/ AGM through Video Conferencing on account of the threat posed by COVID-19.

According to above mentioned circulars, all type of Companies can hold Extra Ordinary General Meeting / Annual General Meeting through Video Conferencing till December 31, 2020 as per the process given in the above circulars.

7. Extension in time period for registration in Independent Director Data Bank:

MCA has given relaxations, to intendent directors for registration in Intendent Director Data Bank created by IICA till December 31, 2020.

Author – CS Divesh Goyal, GOYAL DIVESH & ASSOCIATES Company Secretary in Practice from Delhi and can be contacted at [email protected]).

Disclaimer: The contents of this article are for information purposes only and do not constitute an advice or a legal opinion and are personal views of the author. It is based upon relevant law and/or facts available at that point of time and prepared with due accuracy & reliability. Readers are requested to check and refer relevant provisions of statute, latest judicial pronouncements, circulars, clarifications etc before acting on the basis of the above write up.  The possibility of other views on the subject matter cannot be ruled out. By the use of the said information, you agree that Author / TaxGuru is not responsible or liable in any manner for the authenticity, accuracy, completeness, errors or any kind of omissions in this piece of information for any action taken thereof. This is not any kind of advertisement or solicitation of work by a professional.

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One Comment

  1. Tilock bhura says:

    Due to major fire broke in our two companies in2009 we file roc return upto 2013 . There are no business from 2009 . In this case penalty is applicable

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February 2021