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Condonation of Delay Scheme-2018 is applicable only to active defaulting companies i.e. it is not applicable to those companies which have been struck off from the Register of Companies.
Condonation of Delay Scheme, 2018 shall be available commencing from January 01, 2018 to March 31, 2018. All the defaulting companies, whose names are not struck off or not removed from the register of the companies, may file its overdue documents regarding annual filing, which were due for filing till 30.06.2017 under Condonation of Delay Scheme, 2018.
In the month of September, 2017, MCA de activated the DINs of the directors who have not filed the annual returns of the Company. Due to this action taken by the Ministry of Corporate Affairs (MCA), Directors of those companies cannot be appointed in new Companies and no filing could be done of the existing Companies.
MCA has introduced Condonation of Delay Scheme-2018 vide its General Circular No. 16/2017 dated 29.12.2017 to Provide relief to Defaulting Companies and Disqualified Directors. I have compiled Few Frequently asked question (FAQS ) related to Condonation of Delay Scheme 2018 [CODS 2018] which as re as follows:- LIST OF FAQS WITH ANSWERS 1. What is […]
Auditor independence refers to the independence of the internal auditor or of the external auditor from parties that may have a financial interest in the business being audited.
Recently Ministry of Corporate Affairs has cancelled the registration of around 2.10 lakh defaulting companies and subsequent direction of the Ministry of Finance to banks to restrict operations of bank accounts of such companies by the Directors of such companies or their authorized representatives.
isqualified directors were moving here and there in search of relief. Finally, MCA has emerged with some sought of relief i.e. Condonation of delay scheme, 2018’, wherein all defaulting Companies* (which are not stuck off from MCA record) are given a chance to file their pending documents/returns which are due till June 30, 2017.
Insolvency and Bankruptcy Code (Amendment) Bill, 2017 was first introduced by finance minister Arun Jaitley on Thursday (December 28, 2017) and passed by Lok Sabha on Friday (December 29, 2017).
Board has decided that request/appeal for restoration of name of the ‘struck off’ company with retrospective date from the date of being ‘struck off’ shall be made by the income-tax department in following situations: i. where proceedings under section 143(3)/144/147/153A/153C/set-aside cases were already in progress; or ii where proceedings under section 143(3}/144/147/153A/153C are contemplated in near future; or
Central Government introduces Condonation of Delay Scheme 2018 [CODS-2018]. Scheme shall come into force with effect from 01.01.2018 and shall remain in force up to 31.03.2018
