Monday, May 3, 2021

MCA Compliance Relief (up to 31 Jul 2021)

The Ministry of Corporate Affairs (MCA) has issued various General Circulars dated 03-May-2021, offering the following reliefs in compliance deadlines in light of the disturbing times caused by the pandemic.

1. No Additional Fees up to 31-Jul for forms due in Apr & May: The time limit for filing of all forms by Companies and LLPs due between 01-April and 31-May-2021 is extended to 31-July-2021 with payment of just normal fees and no additional fees. This relief does not apply to forms related to charges such as CHG-1, CHG-4 and CHG-9.

2. Days of Apr & May not Counted for Charge Creation/Modification Forms: For forms relating to creation and modification of charge only (and not satisfaction of charge), i.e. applicability on Forms CHG-1 and CHG-9 - where the date of creation or modification of charge is before 01-Apr-2021, but the due date for filing of the form has not expired as on 01-Apr-2021, the period beginning from 01-Apr-2021 to 31-May-2021 shall not be considered for the purpose of counting number of days for filing of the form. In case the form is not filed within such period, the first day to be counted after 31-Mar-2021 shall be 01-Jun-2021 u/s 77 and 78 of the Companies Act 2013. Similarly, for forms due on or after 01-Apr-2021, the days shall count from 01-Jun-2021.

3. Board Meetings with Max 180 Days Gap: The gap between any two Board Meetings due to be held between April to September 2021 may be 180 days instead of 120 days.