Companies Fresh start scheme 2020 How to save Penalties10 min read

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Companies Fresh start scheme 2020, How to save penalties!

Companies Fresh start scheme 2020 COVID 19 has brought in some major changes to way compliance happen in the country this the best chance to get all the compliance in order

The penalty for not Fling of RoC Returns/Annual Returns is running from Rs 100 per day perform imagine if the compliance has not been done for 2 years or 3 years, the penalty would be very steep

CFSS 2020 was launched by the Ministry of Corporate Affairs is a blessing for all companies how have not filed or defaulting companies to file belated Documents and Returns without any additional fees and immunity from Prosecution

Company Fresh Start Scheme 2020
Company Fresh Start Scheme 2020.

 

Applicability of the Companies Fresh start scheme 2020

Any company which has made default in ROC related compliances can make use of this scheme which shall be applicable from 01st of April, 2020 to 30th of September, 2020.

The list comprises a total of 76 forms out of which 10 forms relate to Companies Act,1956 and 12 forms relate to LLP and remaining 54 forms relate to Companies Act,2013. The complete list can be found in below notice by MCA http://www.mca.gov.in/Ministry/pdf/CFSS2020_02042020.pdf

 

Non-Applicability

The above scheme can’t be availed by the following LLPs/companies: –

  • Companies already struck off
  • Companies under process of striking off
  • Companies which have been voluntary application for striking off
  • Companies which have applied for Dormant Status
  • Companies already amalgamated
  • Vanishing companies
  • Where increase in Authorised Capital and charge related documents are involved

Any defaulting company is allowed to file belated documents that were due for filing on any given date in accordance with the provisions of this scheme.

Companies Fresh start scheme 2020 is not applicable to:

  1. Companies against which action for strike-off has been initiated u/s 248 of Companies Act
  2. Companies which have filed an application for action of striking off the name from Register.
  3. Companies that have amalgamated under a scheme of arrangement/compromise under the Act.
  4. Companies which have filed an application for ‘Dormant Status’
  5. Vanishing Companies.
  6. Where an increase in authorized capital is involved and charge related documents.

LIST OF FORMS THAT ARE COVERED UNDER THE SCHEME COMPANIES FRESH START SCHEME 2020

**CA 1956 = Companies Act 1956 , CA 2013 = Companies Act 2013

Companies Fresh start scheme 2020

S.No. Act Form No. Form Description
 

1

CA 1956  

20B

Annual Return.
2 CA 1956  

21A

Annual Return for company having no share

capital.

3 CA 1956 23B Notice by Auditor.
4 CA 1956 23C Appointment of Cost Auditors.
5 CA 1956  

23D

Information by Cost Auditor to Central

Government.

6 CA 1956  

23AC

Filing         Balance        Sheet        and        other

documents with the Registrar

7 CA 1956  

23AC- XBRL

Form for filing XBRL document in respect of Balance Sheet and other documents with

the Registrar.

8 CA 1956  

Form 66

Form      for      submission      of     Compliance

Certificate.

9 CA 1956  

 

I-XBRL

Form for filing XBRL document in respect

of Cost Audit Report and other documents with the Central Government.

 

 

10

 

CA 1956

 

 

A-XBRL

Form for filing XBRL document in respect

of compliance report and other documents with the Central Government.

11 CA 2013 INC-4 Intimation for Change in Member/Nominee.
12 CA 2013  

INC-5

One       Person       Company-Intimation         of

exceeding threshold.

13 CA 2013  

INC-6

One     Person      Company–Application       for

Conversion.

14 CA 2013  

INC-12

Application     for    grant    of    License    under

section 8.

15 CA 2013  

 

INC-20

Intimation               to             Registrar               of revocation/surrender of license issued under

section 8.

16 CA 2013 INC-20A Declaration for Commencement of Business.
17 CA 2013  

INC-22

Notice of Situation or Change of situation of

Registered Office of the Company.

 

 

18 CA 2013 INC- 22A(ACTIV

E)

 

Active Company Tagging Identities and Verification (ACTIVE).

19 CA 2013  

 

INC-27

Conversion of Public Company into Private Company or Private Company into Public

Company

20 CA 2013  

INC-28

Notice of Order of the Court or Tribunal or

any other competent authority.

21 CA 2013 PAS-3 Return of allotment.
22 CA 2013 SH-11 Return in respect of Buy-Back of securities.
23 CA 2013 DPT-3 Return of Deposits.
24 CA 2013  

DPT-4

Statement regarding deposits existing on the

commencement of the Act.

25 CA 2013  

 

MGT-6

Return     to    the    Registrar     in    respect     of

declaration under section 89 received by the company.

26 CA 2013 MGT-7 Annual Return.
27 CA 2013  

MGT-10

Changes      in     shareholding      position      of

promoters and top ten shareholders.

28 CA 2013  

MGT-14

Filing of Resolutions and agreements to the

Registrar under section 117.

29 CA 2013  

MGT-15

Form for filing Report on Annual General

Meeting.

30 CA 2013  

AOC-4

Form for filing Financial Statement and other

documents with the Registrar.

31 CA 2013  

 

AOC-4 CFS

Form     for     filing     Consolidated     Financial Statements and other documents with the

Registrar.

32 CA 2013  

AOC- 4(XBRL)

Form for filing XBRL document in respect of Financial Statement and other documents

with the Registrar.

33 CA 2013 AOC-4

(NBFC) (IND-AS)

 

Form for filing Financial Statement and other documents with the Registrar for NBFCs.

34 CA 2013 AOC-4 CFS (NBFC)

(IND-AS)

Form     for     filing     Consolidated     Financial Statements and other documents with the

Registrar for NBFCs.

 

35 CA 2013  

AOC-5

Notice of address at which books of account

are maintained.

36 CA 2013  

ADT-1

Information to the Registrar by company for

appointment of auditor.

37 CA 2013  

ADT-2

Application for removal of auditor(s) from

his/their office before expiry of term.

38 CA 2013 ADT-3 Notice of Resignation by the Auditor.
39 CA 2013  

DIR-3C

Intimation of Director Identification Number

by the company to the Registrar.

40 CA 2013 DIR-3

KYC/Web form

 

 

Application for KYC of Directors.

41 CA 2013  

DIR-11

Notice of resignation of a Director to the

Registrar.

42 CA 2013  

 

DIR-12

Particulars of appointment of Directors and the         Key    Managerial     Personnel    and    the

changes among them.

43 CA 2013  

MR-1

Return of appointment of Key Managerial

Personnel.

44 CA 2013  

 

 

 

 

MR-2

Form of Application to the Central Government for approval of appointment or reappointment and remuneration or increase in remuneration or waiver for excess or over payment to managing director or whole time director or manager and commission or

remuneration to Directors.

45 CA 2013  

FC-1

 

Information to be filed by Foreign Company.

46 CA 2013  

FC-2

Return of alteration in the documents filed

for registration by Foreign Company.

47 CA 2013  

 

FC-3

Annual accounts along with the list of all principal      places     of     business     in     India

established by Foreign Company.

48 CA 2013 FC-4 Annual Return of a Foreign Company.
49 CA 2013 NDH-1 Return of Statutory Compliances.
50 CA 2013 NDH-2 Application for extension of time.

 

51 CA 2013  

NDH-3

Return of Nidhi Company for the half year

ended.

52 CA 2013  

 

NDH-4

Application       for      declaration      as      Nidhi

Company and for updation of status by Nidhis.

53 CA 2013  

MSC-1

Application to ROC for obtaining the status

of dormant company.

54 CA 2013 MSC-3 Return of dormant companies.
55 CA 2013  

 

CRA-2

Form of Intimation of appointment of Cost Auditor      by     the     company     to     Central

Government.

56 CA 2013  

CRA-4

Form for filing Cost Audit Report with the

Central Government.

57 CA 2013  

BEN-2

Return     to    the    Registrar     in    respect     of

declaration under section 90.

58 CA 2013  

GNL-2

Form for submission of documents with the

Registrar.

59 CA 2013  

 

 

GNL-3

Particulars of person(s) or key managerial personnel charged or specified for the purpose of sub-clause (iii) or (iv) of clause

60 of section 2.

60 CA 2013  

IEPF-1

Statement of amounts credited to the Investor

Education and Protection Fund.

61 CA 2013 IEPF-2 Statement of unclaimed or unpaid amounts.
62 CA 2013  

 

IEPF-3

Statement of shares and unclaimed or unpaid dividend not transferred to the Investor

Education and Protection Fund.

63 CA 2013  

IEPF-4

Statement      of    shares    transferred      to    the

Investor Education and Protection Fund.

64 CA 2013  

IEPF-5 e-

verification report

Application to the authority for claiming unpaid amounts and shares out of Investor Education and Protection Fund (IEPF)–E-

verification report.

65 CA 2013  

 

IEPF-6

Statement of unclaimed or unpaid amounts to be transferred to the Investor Education and

Protection Fund.

66 CA 2013  

IEPF-7

Statement of amounts credited to IEPF on

account of shares transferred to the fund.

 

67 LLP  

 

FORM 3

Information with regard to Limited Liability Partnership agreement and changes, if any,

made therein.

68 LLP  

 

 

FORM 4

Notice of appointment, cessation, change in name/ address/designation of a designated partner or partner and consent to become a

partner/designated partner.

69 LLP  

FORM 5

 

Notice for change of name.

70 LLP FORM 8 Statement of Account & Solvency.
71 LLP  

FORM 11

Annual      Return      of      Limited       Liability

Partnership (LLP)

72 LLP  

FORM 12

Form for intimating other address for service

of documents.

73 LLP  

FORM 15

Notice for change of place of registered

office.

74 LLP  

 

FORM 22

Notice of intimation of Order of Court/ Tribunal/CLB/ Central Government to the

Registrar.

75 LLP  

 

FORM 23

Application for direction to Limited Liability Partnership (LLP) to change its name to the

Registrar.

76 LLP  

Form 27 LLP

Form     for    registration      of    particulars     by

Foreign       Limited       Liability       Partnership (FLLP)

77 LLP Form 29 LLP Notice of (A) alteration in the certificate of incorporation or registration; (B) alteration in names and addresses of any of the persons authorised to accept service on behalf of a foreign  limited  liability partnership (FLLP)

(C) alteration in the principal place of business in India of FLLP (D) cessation to

have a place of business in India.

78 LLP  

FORM 31

Application for compounding of an offence

under the Act.

 

 

Immunity certificate

An application has to be filed in respect of belated documents filed under the Scheme, electronically through Form CFSS-2020.

Such an application has to be filed within 6 months from the closure of the Scheme to give effect to the Immunity.

Based on the application above, an Immunity Certificate shall in respect of documents filed under this Scheme be issued by the concerned authority.

Effect of Immunity

Once the Immunity Certificate has been issued, the Designated Authority shall withdraw the prosecution(s) pending before concerned courts as well as the proceedings of adjudication of penalties.

However, this immunity shall not be applicable in the matter of any appeal as well as management disputes of the company pending, before any court of law.

For any clarification on Companies Fresh Start Scheme 2020, please contact virtual Auditor on 9962260333/ 9092133000

Summary
Companies Fresh start scheme 2020 , How to save penalties !!
Article Name
Companies Fresh start scheme 2020 , How to save penalties !!
Description
Companies Fresh start scheme 2020, How to save penalties !!
Author
Viswanathan
Publisher Name
Virtual Auditor
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