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MCA REVISED FAQ’S ON NAME RESERVATION AND RESUBMISSION FORMS

CSLalit Rajput
Name reservation extensions provide additional filing time for expiring reservations and resubmissions, protecting filings from NTBR status. Extension measures allow additional filing time for name reservations and RSUB resubmissions with expiries between 15th March 2020 and 31st May 2020: company name reservations (SPICe+ Part B) and change-of-name reservations (INC-24) and LLP name reservations (FiLLiP/Form 5) receive statutory reservation-period extensions beyond 31st May 2020; RSUB deadlines for companies and LLPs get an additional 15 days beyond 31st May 2020, with case-by-case treatment for SRNs already marked NTBR. IEPF-5 eVerification SRNs in the window may be filed until 30th September 2020 and will not be moved to pending-for-rejection until that date. (AI Summary)

Overview

In view of the situation arising due to COVID-19 pandemic and extended lockdown period, Ministry of Corporate Affairs vide notification / circular  dated 20th day of May, 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 31st May would be extended by 20 days beyond 31st 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 31st May would be extended by 60 days beyond 31st May 2020.

3

Extension of RSUB validity for companies.

SRNs where last date of Resubmission (RSUB) falls between 15th March 2020 to 31st May 2020, additional 15 days beyond 31st 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.

It also includes IEPF Non-STP eForms ( IEPF-3, IEPF-5 and IEPF-7)

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 31st May would be extended by 20 days beyond 31st May 2020.

5

RSUB validity extension for LLPs.

SRNs where last date of resubmission (RSUB) falls between 15th March 2020 to 31st May 2020, additional 15 days would be allowed from 31st 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

6.

Extension for marking IEPF-5 SRNs to ‘Pending for Rejection u/r 7(3)’ and ‘Pending for Rejection u/r 7(7)’

SRNs where last date of filing eVerification Report (for both Normal as well as Re-submission filing) falls between 15th March 2020 to 31st May 2020, would be allowed to file the form till 30th Sep 2020. However, for SRNs already marked under ‘Pending for Rejection u/r 7(3)’ and ‘Pending for Rejection u/r 7(7)’, extension would be provided on case to case basis.

Note: Status of IEPF-5 SRN will not change to ‘Pending for Rejection u/r 7(3)’ and ‘Pending for rejection u/r 7(7)’ till 30th Sep’20.

Read MCA Circular at:

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

 

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