by CS Arpit Garg
Ministry of Corporate Affairs (MCA) vide various circulars have made some relaxations due to Covid-19. Second wave of the corona virus have made a significant impact on all businesses which can lead to increase in default of the companies and LLP’s. Hence, MCA have made extensions for the same.
Circular 06/2021 – Relaxation on levy of additional fees in Filing of Forms
Relaxation have given upto 31st July, 2021 for filings of forms due for filing during 1st April, 2021 to 31st May, 2021 under Companies Act, 2013 and LLP Act, 2008. No additional fees will be applicable and only normal fees will be levied. However, Charge Related Forms shall be excluded from this relaxation.
Circular 08/2021 – Relaxation on gap between two Board Meetings under Section 173
For the first two quarters of Financial Year 2021-22 period of 120 days shall be extended by a period of 60 days (be extended to 180 days) for holding Board Meetings under Section 173 of Companies Act, 2013.
Circular 07/2021 – Relaxation for filing Charge related forms under Companies Act, 2013
Applicability –
- Filings of Form (CHG-1 or CHG-9)
- Date of Creation/Modification of Charge
Situation A: Is before 01.04.2021 but timeline not expired as on 01.04.2021 or
Situation B: Falls on any date between 01.04.2021 to 31.05.2021 (both date inclusive)
Relaxation of time:-
If form filled under situation A , then the period beginning from 01.04.2021 to 31.05.2021 shall not be counted for calculating the timeline under sec.77 or 78. In case form is not filed within that timeline, the first day after 31.03.2021 will be counted as 01.06.2021 for the purpose of timeline under respective sections of the Act.
If form filled under situation B above the period beginning from the date of creation/ modification of charge to 31.05.2021 shall not be count for the purpose of calculation of days under section 77 or section 78 of the Act, if not filled then first day will be counted as 01.06.2021 for the same timeline.
Timeline as per Section 77 or Section 78
It is the duty of every corporation or charge holder creating charge in any such form, on payment of such fees and in such manner as might be prescribed, with the Registrar within 30 days of its creation.
For any queries contact
CS Arpit Garg
Practicing Company Secretary & Founder Compliance Arena
8447773833