eForm CODS - Condonation of Delay Scheme 2018 is available on MCA.
After announcing it yesterday, finally MCA made form CODS available on its website for download - click here to download the form directly from MCA.
Purpose of the eForm: (As stated in Help-kit)
With a view to allow an opportunity for the defaulting companies to rectify the default, in the exercise of its powers conferred under sections 403, 459 and 460 of the Companies Act, 2013, the Central Government has decided to introduce a Scheme namely Condonation of Delay Scheme, 2018.
The defaulting companies after filing the overdue documents in the respective prescribed e-Forms, paying the statutory filing fee and the additional fee payable as per section 403 of the Act read with Companies (Registration Offices and fee) Rules, 2014, shall seek Condonation of delay by filing form e-CODS 2018.
Features of Form CODS:
1) Processing: Auto Approval
Surprisingly its an Auto Approval (STP) form. So once the form is filed and fees are paid, it will be approved automatically.
2) EMAIL Confirmation: When an eForm is approved/rejected by the authority concerned, an acknowledgment of the same is sent to the user in the form of an email.
3) Filing Fees: It is a one time Form and filing fees per application is Rs. 30,000/- only and there is no late fees involved.
4) Details to be provided in eForm:
a) Basic information about the Company: Name, CIN etc
b) Details of documents filed under the Condonation of Delay scheme, 2018 - Maximum 20 SRNs can be entered in a form.
c) Other information like if any appeal is filed against Notice issued etc and Whether any director(s) of the company is declared as proclaimed offender or facing criminal case(s) for economic offences.
5) Signing of Form:
Form can be digitally signed by
a) Director (by providing DIN)
b) Manager, (by providing PAN)
c) Chief Executive Officer (CEO) (by providing PAN)
d) Chief Financial Officer (CFO) (by providing PAN)
e) Company Secretary of the Company (by providing valid Membership Number)
There is no mandatory attachment required in form unless, 'Yes' option is selected in point. no. 5 to 7 in the form which is pertaining to Appeal and criminal offense etc. In general, there are no mandatory attachments.
a) Proof of withdrawal of any appeal, if any
b) Details in respect of prosecution(s) pending against the company and its officers in respect of belated documents filed under the scheme which requires withdrawal by the Registrar, if any
c) Details of Director(s) declared as proclaimed offender or facing criminal case for economic offense, if any; and
d) Any other attachment
The form does not require any certification.
So the defaulting Companies and whose directors are disqualified, it is important to file the form CODS and avail the one time benefit of Condonation of Delay scheme.
Tags Corporate Law