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MCA Extends timeline for Name Reservation / Re-submission for Companies & LLP's

CSLalit Rajput
Extension of filing timelines for name reservations and resubmissions granted, easing incorporation compliance during pandemic disruptions. Extension of filing timelines for name reservations and resubmissions was provided as relief for companies and LLPs affected by pandemic disruptions. Name reservation periods for new incorporations, company name changes and LLPs are extended for reservations expiring within the affected window, and resubmission (RSUB) validity for SRNs with deadlines in that window is extended. SRNs already marked NTBR may receive case-by-case extension; forms will not be marked NTBR solely for non-resubmission during the extension. (AI Summary)

MCA Extends timeline for Name Reservation / Re-submission  .

  • Overview

In view of the situation arising due to COVID-19 pandemic and extended lockdown period, Ministry of Corporate Affairs vide notification / circular  dated 22nd day of April, 2020 has issued Circular with respect to PERIOD/DAYS OF EXTENSION FOR NAMES RESERVED AND RESUBMISSION OF FORMS.

Several representations have been received from stakeholders with regard to difficulty in incorporation / resubmission of incorporation forms due to COVID-1 9

  • Relaxation given:

PERIOD/DAYS OF EXTENSION FOR NAMES RESERVED AND RESUBMISSION OF FORMS

S. No.

Issue description

Period/Days of Extension

1

Names reserved for 20 days for new company incorporation. SPICe+ Part B needs to be filed within 20 days of name reservation.

Names expiring any day between 15th March 2020 to 3rd May would be extended by 20 days beyond 3rd May 2020.

2

Names reserved for 60 days for change of name of company. INC-24 needs to be filed within 60 days of name reservation.

Names expiring any day between 15th March 2020 to 3rd May would be extended by 20 days beyond 3rd May 2020.

3

Extension of RSUB validity for companies.

SRNs where last date of Resubmission (RSUB) falls between 15th March 2020 to 3rd May 2020, additional 15 days beyond 3rd May 2020 would be allowed. However, for SRNs already marked under NTBR, extension would be provided on case to case basis.

Note: Forms will not get marked to (Not to be taken on Record)’NTBR’ due to non resubmission during this extended period as detailed above

4

Names reserved for 90 days for new LLP incorporation/change of name. FiLLiP/Form 5 needs to be filed within 90 days of name reservation.

Names expiring any day between 15th March 2020 to 3rd May would be extended by 20 days beyond 3rd May 2020.

5

Resubmisssion validity extension for LLPs.

SRNs where last date of resubmission (RSUB) falls between 15th March 2020 to 3rd May 2020, additional 15 days would be allowed from 3 rd May 2020 for resubmission. However, for SRNs already marked under NTBR, extension would be provided on case to case basis.

Note: Forms will not get marked to (Not to be taken on Record)’NTBR’ due to non-resubmission during this extended period as detailed above

Read MCA Circular at:

http://www.mca.gov.in/Ministry/pdf/Extension_22042020.pdf

 

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