Three Circulars by MCA dated May 03, 2021 in view of the difficulties arising to resurgence of Covid-19
1. Relaxation of Time in filing and levy of additional fees in filing of certain forms by the company and LLP
MCA issued a General Circular No. 06/2021 dated May 03, 2021, relaxing the time and additional fees to be payable by any Company or LLP till July 31, 2021 for Forms which are due for filing between April 01, 2021 to May 31, 2021. However Forms related to Charges that is Form CHG-1, CHG-4 and CHG-9 are not included in the general relaxation given under Circular 6 /2021.
2. Relaxation of time in filing forms relating to Charge by the Company
MCA issued a General Circular No. 07/2021 dated May 03, 2021, relaxing time delay in filing of Charge related documents by the Company or the Charge Holder under Form CHG-1 and CHG-9 (“ the Charges”) and not CHG-4, satisfaction of charges.
(a) The Circular shall not apply in following cases
(i) The filing of e-Forms CHG-1 and/or CHG-9 is done before the issue of Circular i.e. May 03, 2021.
(ii) The timeline for filing of e-Forms CHG-1 and/or CHG-9 has already expired prior to April 01, 2021 (that is 120 days from the date of creation or modification of charge).
(iii) If filing of e-Forms CHG-1 and/or CHG-9 is delayed beyond 120 days from June 01, 2021, despite the relaxation given of time till May 31, 2021.
(iv) Filing of e-Form No. CHG -4, for the Satisfaction of Charge.
(b) The Circular shall apply in following cases
If the Charge is created between the date as mentioned below
| CASE 1
The Charge is created / modified prior to April 01, 2021 but 120 days from creation/modification of charge is not expired as on April 01, 2021 as per section 77 |
CASE 2
The Charges is created / modified between April 01, 2021 to May 31, 2021 (both dates inclusive). |
Case 1 as mentioned above when the Charge is created/modified prior to April 01, 2021 but 120 days from the date of creation/ modification is not expired as on April 01, 2021:
a. The period of two months between April 01, 2021 to May 31, 2021 shall not be counted as delayed period for filing as per Section 77 and 78 of the Act.
b. If the same is filed on or before May 31, 2021 then only Normal fee is payable.
c. If the same is filed after May 31, 2021 then the addition fees shall be charged as per the Fees Rules for the number of days delayed after June 01, 2021 to the date of filing and added to it are number of days delayed from the date of the creation of the Charge till March 31, 2021.
Case 2 as mentioned above when the Charge is created / modified between April 01, 2021 to May 31, 2021:
a. The relaxation of period that is from the date of creation/ modification of Charge till May 31, 2021 shall not be counted for delay in filing.
b. If the same is filed on or before May 31, 2021 then only Normal fee is payable
c. If the same is filed after May 31, 2021 then the addition fees shall be charged as per the Fees Rules for the number of days delayed after June 01, 2021 to the date of filing.
3. General Circular on Gap between two Board Meetings under Section 173 of the Companies Act, 2013
MCA issued a General Circular No. 08/2021 dated May 03, 2021, and relaxed the mandatory requirement of having Board Meetings (BM) within the intervals provided of 120 days (as per section 173 of the CA, 2013) and the same stands extended as 180 days for next 2 quarters for the Financial Year 2021-22.
Accordingly, the gap between 2 consecutive Board Meetings may extend to max 180 days during the Quarter- from April to June 2021 and from July to September 2021, instead of 120 days as required in the CA, 2013.
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