Companies Fresh Start Scheme, 2020 – Amnesty Scheme for various violations under the Companies Act, 2013.
Summary : The MCA vide its circular dated 30th March 2020 has issued Companies Fresh Start Scheme, 2020 to promote defaulting companies to make a fresh start on a clean slate and waive the additional fee as charged under section 403 of Companies Act, 2013 which is applicable on certain forms to be filed with MCA.
Scheme: A company which has failed to any return or form including Annual Returns and Financial Statements and which is governed under section 403 of Companies Act, 2013 can be filed with effect from 1st April 2020 to 30th September 2020 at a nominal fee as prescribed under Companies (Registration and Office) Rules, 2014 and avail immunity certificate from prosecution or imposition of penalty under the Act for belated filing.
The inactive companies can also apply simultaneously for obtaining dormant and strike off as per fees applicable on such form while filing returns.
On completion of the scheme ie., 30th September 2020, CFSS-2020 form shall be available for filing for companies availing benefit under the scheme and immunity certificate will be issued by MCA.
Non- Applicability: The scheme does not apply to Companies striked off by ROC u/s 248, companies applied for strike off/Amalgamation/merger/dormant, vanishing companies and on form SH-7, CHG-1, CHG-4, CHG-8 & CHG-9 (Increase in capital & charge related forms).
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