Due to the Covid -19 pandemic, the Ministry of Corporate Affairs has issued 3 Circulars on May 03, 2021, to provide Relaxation Compliance under Companies Act, 2013 in respect of ROC Form Filings and Holding of Board Meetings. In this article, we will discuss MCA Relaxation amid CoVID-19 announced on 03rd May 2021.
MCA Relaxation amid CoVID-19
The Ministry of Corporate Affairs has issued 3 Circulars on May 03, 2021, to provide Relaxation due to Covid from Compliance under Companies Act, 2013 in respect of ROC Form Filings and Holding of Board Meetings.
1. Relaxation of time for filing certain forms under the Companies Act, 2013
As per provisions of Section 77 of Companies Act, 2013 form CHG-1 and CHG-9 relating to Creation and Modification of Charge require to be file in a maximum of 120 days from the date of creation or modification. Read GeneralCircularNo6_03052021
2.Relaxation in additional fees for filing of form after the due date
As per this circular, if the due date of any form (except CHG-1, CHG-4 and CHG-9) falling between 1st April 2021 to 30th May 2020 then those forms can be file without additional fees till 31st July 2021. Read GeneralCircularNo7_03052021
3. Maximum Gap Between Two Board Meetings
The MCA extended the gap between two board meetings by 60 days for the initial two quarters of the financial year 2021-22. According to this, the gap between two consecutive Board Meetings may extend to 180 days during the quarter, April to June and July to August. Read GeneralCircularNo8_03052021
4. All ROC related forms due date extended to 31st July
The Ministry has issued General Circular Number 06/2021 and Number 07/2021 on 3rd May 2021 Allowing stakeholders to file various forms due for filing during 01/4/2021 to 31/05/2021 under the Companies Act, 2013/LLP Act, 2008 by 31st July 2021 without payment of extra fees. The changes needed in the MCA-21 System to implement this decision are being made and stakeholders would be published in this regard in due course through a related Notice.
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