As per records available with the Ministry of Corporate Affairs (MCA), 4,73,131 number of Indian Companies and 1,065 number of Foreign Companies have been benefited by availing the Companies Fresh Start Scheme (CFSS), 2020 for filing their pending documents.

This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs in a written reply to a question in Rajya Sabha today.

The Ministry of Corporate Affairs (MCA) through the General Circular No. 12/2020 dated 30.03.2020 launched the Companies Fresh Start Scheme, (CFSS) 2020 which inter- alia provides opportunities to Companies to make good any filing related defaults, regardless of duration of defaults, and make a fresh start as a fully compliant entity.

Giving more details, the Minister said the Scheme condoned the delay in filing the belated documents and gives immunity from prosecutions and proceedings for imposition of penalty which might arise on account of such delayed filing of documents. No additional fees was charged for late filing during a moratorium period from 1st April to 31st December, 2020 in respect of documents, returns etc. required to be filed in MCA-21 Registry.

Break up of Number of Companies that availed the scheme State/UT-wise which is as per Annexure- A.

Companies Fresh Start Scheme enables defaulting companies to regularise filings with immunity from prosecution and waived late fees. The Companies Fresh Start Scheme 2020 allowed companies to regularise historical filing defaults irrespective of their duration by condoning belated filings, waiving additional late fees during a specified moratorium, and granting immunity from prosecution and penalty proceedings for delayed filings made in the central electronic registry.