The Ministry of Corporate Affairs issued Companies Fresh Start Scheme 2020 vide Circular 12/2020 dt 30.3.2020 which applies both public and private companies incorporated under Co Act 1956/2013. The salient features are
(1) Permits filing all pending Returns, Statements, Documents for any number of years.
(2) It shall come into operation on 1.4.2020 and remain effective up to 30th Sep 2020.
(3) It applies to all companies both public or private who failed to file all returns statements or documents including Annual Return remain for any number of years as on date of filing.
(4) Only normal fees as prevailing on the date of filing shall be payable.
(5) No late fee, no penalty, and no prosecution only normal fees payable.
(6) Prosecution if any pending shall be disposed off after payment
(7) Scheme not apply to those companies against whom final notice under Section 248 has been given by ROC for striking off or who applied for striking off or applied for being declared dormant companies, vanishing companies or dormant companies or companies under CIRP
(8) Companies whose name struck off cannot avail this scheme and have to get their name restored;
(9) Companies can avail this scheme for the purpose of (i) getting themselves dormant under Section 455 and also (ii) getting their name struck off
(10) After payment of normal fees and documents return statement is taken on record, an application shall be filed electronically (without any fees) for obtaining Immunity Certificate but it shall not be filed beyond six month from the date of expiry of scheme.
(11) Scheme grants immunity against filing of forms returns and documents but not against any punitive action being done by the company for which suitable can be taken by ROC. For example immunity in delaying in filing return of allotment but not against any illegalities committed in allotment of shares.
This is golden opportunity to file all pending Annual returns, Account Statements including others pending forms for any number of years.
Regards,
Company Salahkar Team
Email: info@companysalahkar.com
Mob: 7827515372