DEEPAK SETH
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The MCA vide itscircular dated 30thMarch 2020has issuedCompanies Fresh Start Scheme, 2020to 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.
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FAQ :
The Companies Fresh Start Scheme 2020 is a government initiative that allows defaulting companies to file overdue forms with the Registrar of Companies (ROC) by paying only the normal fees, without any additional charges. It also provides immunity from prosecution and penalties for delayed filings.
The scheme commenced on 1st April 2020 and concluded on 30th September 2020.
The scheme generally applies to forms subject to additional fees under Section 403 of the Companies Act, 2013, such as Annual Returns (MGT-7) and Financial Statements (AOC-4). However, it does not apply to forms related to increasing authorised share capital (SH-7) or charge-related documents (CHG series).
Yes, inactive companies can use the scheme to file their due documents and simultaneously apply to be declared a 'Dormant Company' under Section 455 of the Act by paying normal fees.
Upon completion of the scheme, companies are required to file an e-form CFSS-2020 (without fee) to obtain an immunity certificate, which confirms withdrawal of prosecutions and penalties related to the delayed filings.
No, the scheme does not waive director disqualifications. The status of a Director Identification Number (DIN) remains unchanged even after filing due returns under the scheme.
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