Circular no 11/2020 dt. 24th March,2020
The Ministry of Corporate Affairs vide general circular 12/2020 dated 30/03/2020 has provided Defaulting companies, an opportunity to make a fresh start on a clean slate. Companies Act 2013, requires all Companies to file various statutory documents, financial statements and Annual Returns, within the stipulated timelines to the Registrar of Companies.
The scheme shall be effective from 01-04-2020 and shall remain in force till 30-09-2020.
According to CFSS-2020, Defaulting Companies means Companies defined under the Companies Act 2013, which have made a default in filling of any documents, statement, returns, etc. including annual statutory documents on MCA-21 registry. Companies fresh start scheme, 2020 facilitates any defaulting company to file belated documents which were due for filing, with payment of normal fees and seeking immunity under the scheme.
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