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September 28, 2020

Ministry of Corporate Affairs has extended the duration of several schemes till 31 December 2020

by facelesscompliance in Income Tax

Ministry of Corporate Affairs has extended the duration of several schemes till 31 December 2020

The Ministry of Corporate Affairs has extended the duration of several schemes till 31.12.2020 in view of the continued disruption caused due to the COVID-19 pandemic in certain parts of the country and to provide greater Ease of Doing Business.

The Ministry of Corporate Affairs had introduced a new scheme known as the Companies Fresh Start Scheme, 2020, valid from 01.04.2020 to 30.09.2020 to enable companies to make good their previous defaults. This Scheme has now been extended till 31.12.2020.

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The MCA had also introduced a new scheme known as the LLP Settlement Scheme, 2020 which was valid from 01.04.2020 to 13.06.2020 and was later extended till 30.09.2020. The Scheme has been further extended to 31.12.2020 to enable LLPs to make good their previous defaults.

The Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 and the time for conducting EGMs through Video Conference or Other Audio Visual Means also stand extended till 31.12.2020.

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