<h1>Ministry of Corporate Affairs' 2020 Schemes Helped Over 5.8 Lakh Companies Rectify Filing Defaults Without Penalties.</h1> The Ministry of Corporate Affairs launched the Companies Fresh Start Scheme (CFSS) and LLP Settlement Scheme in 2020 to allow companies and LLPs to rectify filing defaults without penalties during a moratorium from April 1 to December 31, 2020. These schemes provided immunity from prosecution for late filings and waived additional fees. Over 4.7 lakh Indian companies, 1,065 foreign companies, and 1.05 lakh LLPs benefited from these initiatives. Both schemes concluded on December 31, 2020, after a nine-month period, and no further extension is planned as the Ministry considers the provided timeframe sufficient.