MCA extends few timelines and relaxes late fees provision under Companies Act amid Pandemic vide various circulars Dt. 03.05.2021

written by ADMIN | May 3, 2021

After CBDT and CBIC, now MCA has also provided relaxation in various compliance due dates under the Companies Act which are as under:

1. Circular No. 6/2021: Any Forms which were due for filing between 01.04.2021 to 31.05.2021 can be filed upto 31.07.2021 without any additional fees. Such relaxation has been made for Companies as well as LLP.

However this relaxation will not apply to CHG – 1 Form, CHG – 4 Form and CHG – 9 Form.

To read full Circular CLICK HERE.

2. Circular No. 7/2021: This circular is applicable on filing of Form No. CHG-1 and CHG-9 by a company or charge holder where the date of creation/ modification of charge:

  • is before 01.04.2021 but timeline for such form has not expired u/s 77 of the act on 01.04.2021 or
  • falls on any date between 01.04.2021 to 31.05.2021.

In case of first situation if form is filed then the period between 01.04.2021 to 31.05.2021 shall not be considered while counting number of days u/s 77 and 78 of the Act.

If in first situation form is not filed within such period then first day after 31.03.2021 shall be reckoned as 01.06.2021 for the purpose of counting number of days.

If in second situation form is filed then period between creation/ modification of charge to 31.05.2021 shall not be reckoned for counting number of days.

If in second situation form is not filed within such period then first day after creation/ modification of charge shall be reckoned as 01.06.2021 for the purpose of counting number of days.

This circular shall not be applicable if Form already filed before the date of issue of this circular. Hence, if any honest person has already filed Form with late fees he won’t get any refund.

To read full circular CLICK HERE.

3. Circular 8/2021: Time interval provided in section 173 of the Companies Act, 2013 has been extended to 180 days instead of 120 days for 1st and 2nd quarter of FY 2021-22.

To read full circular CLICK HERE.

 

The changes required in the MCA-21 System to implement this decision are being made and stakeholders would be informed in this regard in due course through a similar Notice. The stakeholders may, therefore, plan accordingly.