Circulars for extension of various schemes issued by MCA

Considering the representations made by various stakeholders, the Ministry of Corporate Affairs (“MCA”) has extended Companies Fresh Start Scheme, 2020 and LLP Settlement Scheme, 2020, (previously valid till 30 September 2020) for a period of 3 months, to 31 December 2020 as per General Circular No. 30/2020 and 31/2020.

(http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo.31_28092020.pdf),

Additionally, the MCA has also issued extension till 31 December 2020 for scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 vide General Circular No.32/2020 (http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo.32_28092020.pdf).

This scheme allows the companies to file such charge forms (creation/ modification) which have not been filed within the stipulated due date under the Companies Act, 2013, without additional fees till 31 December 2020.

Furthermore, the companies are now allowed to conduct Extra-Ordinary General Meetings through Video Conference (VC) or Other Audio Visual Means (OAVM) till 31 December 2020 vide General Circular No. 33/2020 (http://www.mca.gov.in/Ministry/pdf/GeneralCircularNo.33_28092020.pdf).

These circulars bring great relief to companies at a time when they are facing challenges in meeting compliance requirements under the Act.

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