Quick Summary
The Ministry of Corporate Affairs (MCA) primarily administers the provisions of the Companies Act, 2013 (the Act), the Limited Liability Partnership Act, 2008 and the Insolvency and Bankruptcy Code, 2016. This was stated by Minister of State for the Ministry of Corporate Affairs Shri Rao Inderjit Si
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FAQ :
The Companies Fresh Start Scheme, 2020 allowed companies to file belated documents without additional fees until 31st December 2020, providing immunity from prosecutions for delayed filings.
The MCA introduced the LLP Settlement Scheme, 2020, offering one-time relaxation on additional fees for defaulting LLPs to file pending documents until 31st December 2020, and immunity from prosecution.
Yes, the MCA has granted relaxation on timelines for filing forms related to the creation or modification of charges, extending deadlines due to the COVID-19 pandemic.
Companies have been allowed to conduct Board Meetings, Extraordinary General Meetings (EGMs), and Annual General Meetings (AGMs) through Video Conferencing or other audio-visual means, with extended deadlines for AGMs.
Yes, an additional period of 180 days has been allowed for newly incorporated companies to comply with the requirement of filing a declaration for Commencement of Business.
The timeline for auditors and audit firms to file the NFRA-2 form has been extended to a total of 270 days, and the submission of the Cost Audit Report has also seen extensions.
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