COMPANIES FRESH START SCHEME 2020 or CFSS-2020
Article contains a quick review of COMPANIES FRESH START SCHEME 2020 or CFSS-2020. Article contains Scheme name, which form can be filed in CFSS-2020 scheme, non applicability of CFSS 2020 scheme, benefit for an inactive company, immunity certificate, relevant section of the CFSS-2020 Scheme.
Companies Fresh Start Scheme 2020 CFSS-2020 |
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| Question | Answers |
| Entity | Company / LLP |
| Scheme Name | CFSS, 2020 |
| Which Forms / Return | defaulting Company who failed to file required documents / Forms / Return including annual filing AOC4 / MGT7 / ADT1 |
| One Time Opportunity | One-time waiver of additional filing fees for delayed filings only normal fees need to be paid |
| Period Start | 01/04/2020 |
| Period End | 30/09/2020 |
| FORMS OR DOCUMENTS | All other documents and company except (CHG-1, CHG4, SH7) all described below |
| Non-applicability | 1. strike off companies,
2. company name already in STK-5 3. Amalgamated Companies 4. Dormant Companies 5. Vanishing Companies 6. Form SH-7 7. Charge Related Forms 8. Companies under Liquidation 9. Companies under CIRP, 10 LLP WHICH APPLIED FOR CLOSURE BY LLP24 |
| An additional benefit for an inactive company | opportunity to inactive company 1. to change the status to the dormant company by filing simple form “MSC-1” or 2. may file STK-2 directly for stike off |
| Dormant Company | he scheme gives an opportunity to inactive companies to get their companies declared as ‘dormant company under Section 455 of the Act by filing a simple application at a normal fee. |
| filing requirement | On any company which need to file documents till 31-08-2020 can file such documents |
| any appeal against prosecution Pending | Need to withdraw that before availing this scheme |
| Immunity certificate | Once delayed form filed need to file CFSS 2020 for taking certificate |
| Last date for Immunity certificate Eform “CFSS-2020” without any fees | after filing forms but not later than 6 months from the closure of scheme 31.03.2021 |
| Prosecution | Immunity from prosecution on companies for filing documents between this period |
| Link | |
| Sec / Rule | 403 and 460 and rule Companies(registration offices and fees), Rules, 2014 |
You May Also Refer:
- MODIFIED LLP SETTLEMENT SCHEME, 2020
- FAQ’s on Company Fresh Start Scheme 2020 issued by the MCA
- Corporate Compliance Calendar for the Month of April 2020
- Companies Fresh Start Scheme 2020- Key Features & FAQs
Refer below video for more details:
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