TaxTMI 
TaxTMI 
Companies Fresh Start Scheme, 2020
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....stration Offices and Fees) Rules 2014. 3. The Ministry has received representations from various stakeholders requesting for grant of one-time opportunity, so as to enable them to complete their pending compliances by filing necessary documents in the MCA-21 registry including annual filings without being subject to a higher additional fees on account of any delay. 4. In order to give such an opportunity to the defaulting companies and to enable them to file the belated documents in the MCA-21 registry, the Central Government in exercise of powers conferred under section 460 read with section 403 of the Companies Act, 2013 has decided to introduce a Scheme namely "Companies Fresh Start Scheme, 2020 (CFSS-2020) condoning the delay in filing the above mentioned documents with the Registrar, insofar as it relates to charging of additional fees, and granting of immunity from launching of prosecution or proceedings for imposing penalty on account of delay associated with certain filings. Only normal fees for filing of documents in the MCA-21 registry will be payable in such ease during the currency of CFSS-2020 as per the provisions of section 403 read with Companies Registration ....
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....tors or key managerial personnel would not he covered by such Immunity For Example, under section 42(8), every company is required to file a return of allotment within the period provided therein. However, the proviso to section 42(4) also requires that the utilisation of money raised through private placement shall not be made unless the return of allotment has been filed in the registry. Now, the immunity under the Scheme shall only be available in respect of the proceeding for imposing penalty On account of delay in filing the return of allotment, but not on account of utilization of the money raised through private placement prior to the filing of the return with the registry. (v) Withdrawal of appeal against any prosecution Lunched or the proceedings for imposing penalties initiated: If the defaulting company. with respect to any statutory filing under the Act, or its officer in default. as the ease may be, has filed any appeal against any notice issued or complaint filed or an order passed by a court or by an adjudicating authority under the Act. before a competent court or authority for violation of the provisions under the Companies Act. 195....
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.... has been passed by an adjudicating authority under the Act. and no has been preferred against such orders of the court or of the adjudicating authority. as the case may be before this Scheme has come into force. (viii) Order by designated authority granting immunity from penalty and prosecution - Based on the declaration made in the Form CFSS-2020. an immunity certificate in respect of documents filed under this Scheme shall be issued by the designated authority. (ix) Scheme not to apply in certain cases - This scheme shall not apply : - a. to companies against which action for final notice for striking off the name u/s 248 of the Act (previously section 560 of Companies Act. 1956) has already been initiated by the Designated authority; b. where any application has already been filed by the companies for action of striking off the name of the company from the register of companies; c. to companies which have amalgamated under a scheme of arrangement or compromise under the Act; d. where applications have already been filed for obtaining Dormant Status under section 455 of the Act before....
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....N Form number(s) Date of filling (DO/MM/YYY Date of event (DO/MM/YYYY) Normal Fees charged under CFSS, 2020 Total Fees paid (in Rs.) ท (in Rs.) Total 4. Whether any appeal(s) was filed against any notice issued or complaint filed, or an order passed by a court or by an adjudicating authority under the Act, before a competent court or authority, before the commencement of the Scheme, for violation of the provisions under the Act in respect of the above mentioned documents(s). If yes attach poof of withdrawal of such appeal. Yes No Not Applicable 5. "Whether any prosecution(s) is pending in court against the company and its officers in respect of belated documents filed under the scheme. If yes, provide the details thereof as an attachment. Yes No Attachments 1. Proof of withdrawal of any appeal(s) against any notice issued or complaint filed or an order passed by a court or by an adjudicating authority under the Act. Attach 2. Details in respect of prosecution(s) pending against the company and its officers in respect of belated documents filed under the scheme which requires withdrawal by the Registrar. Attach 3. Optional attachment(s) - if any ....