No blanket extension of Companies Fresh Start Scheme, 2020 beyond 31st Dec, 2020 : Ministry of Corporate Affairs (MCA)

MCA has vide General Circular No. 03/2021 dated 15^th January, 2021 ruled out the blanket extension of Companies Fresh Start Scheme, 2020 beyond 31^st December, 2020.

However, on account of representations filed by various stakeholders with respect to the appeals filed by Companies under the provisions of the Section 252 of the Companies Act, 2013 before National Company Law Tribunal (NCLT) to restore the names of Companies which has been struck off by the office of Registrar of Companies (ROC), MCA has come up with a new scheme under the name “Scheme for Condonation of delay for Companies restored on the Register of Companies between 01 December 2020 to 31 December 2020” (“Scheme”) in order to provide a benefit of waiver of additional fee on overdue filings in case of aforesaid companies.

Key Highlights of the Scheme are as under:

1. The Scheme shall be applicable on all e-forms except SH-7 (Increase in authorized share capital) and charge related documents (i.e. CHG-1, CHG-4, CHG-8 and CHG-9);
2. The last date of filing of overdue e-forms under the Scheme shall be till 31^st March, 2021; and
3. The Scheme shall be applicable only on Companies which had obtained the order of restoration of name which was struck off by ROC, from NCLT, during the period between 01^st December, 2020 to 31^st December, 2020.

The complete text of the Circular may be viewed at below link:

http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo.3_15012021.pdf

Last updated: 19/01/2021

Article contributed by:

Luv Malhotra

Associate Director- Corporate Secretarial

MBG Corporate Services

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