Special measures for companies and LLPs in view of COVID-19 outbreak

Last updated: 26 March 2020

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In response to the COVID-19 outbreak, the Ministry of Corporate Affairs has introduced special measures to support companies and LLPs. These include a moratorium on additional fees for late filings between April 1st and September 30th, 2020, allowing businesses to catch up on compliance without penalty. Additionally, the mandatory interval between board meetings has been extended by 60 days, permitting a gap of up to 180 days until September 30th, 2020. The application of the Companies (Auditor's Report) Order, 2020, has also been deferred to the financial year 2020-2021.

General Circular No. 11 /2020 F. No. 2/1/2020-CL-V Government of India Ministry of Corporate Affairs 5th Floor. A Wing, Shastri Bhawan, Dr. R. P. Road, New Delhi-110001 Dated: 24th March, 2020 To All Regional Directors, All Registrar of Companies, All Stakeholders Subject: Special Measures under Companies Act, 2013 (CA-2013) andLimited Liability PartnershipAct, 2008 in view of COVID-19 outbreak Sir, In order to support and enable Companies and Limited Liability Partner

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FAQ :

The moratorium period for late filings without additional fees is from 1st April 2020 to 30th September 2020.

The mandatory interval between two consecutive board meetings has been extended by 60 days, allowing a gap of up to 180 days instead of the usual 120 days, until September 30th, 2020.

The Companies (Auditor's Report) Order, 2020, will be applicable from the financial year 2020-2021, instead of the previously notified financial year 2019-2020.

These special measures are for Companies and Limited Liability Partnerships (LLPs) in India.

Notification No : Circular No. 11 /2020

Attached File : 322600_9345_circular_25032020.pdf

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Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

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