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The Ministry of Corporate Affairs has introduced Companies Fresh Start Scheme, 2020 commences on 01.04.2020 and will last upto 30.09.2020 that enables companies who had made defaults in filing of necessary forms and documents prior to the scheme to make good all its filing related compliances and enjoy the status of compliant companies in so far as it relates to filing of forms and documents with MCA 21. This scheme has been introduced with the purpose of providing a fresh opportunity to start as a fully compliant entity.
It is a very good move by MCA where companies are provided onetime opportunity to file their pending compliances. There are a number of non-compliant companies who wish to continue the affairs of the company but due to high amount of additional fees, penalties could not proceed. Many recommendations were coming to the government for waiver of additional fees, prosecution and penalties in so far as they relate to filing of important forms and documents with MCA 21 registry. On a very serious note, MCA comes up with a onetime scheme for a new and fresh start of the companies who actually want to setup and continue their business.
All about Companies Fresh Start Scheme, 2020
In conclusion, the Companies Fresh Start Scheme, 2020 introduced by the Ministry of Corporate Affairs offers a unique opportunity for non-compliant companies to rectify their filing defaults and become fully compliant entities. This scheme provides a fresh start and encourages businesses to continue their operations without the burden of additional fees and penalties. It is a commendable move by the MCA to support the growth and development of companies in India."Don't miss the chance to rectify your filing defaults and become a fully compliant entity. Take advantage of the Companies Fresh Start Scheme, 2020 and enjoy a fresh start for your business. For related queries, Contact us now at info@manishanilgupta.com
Disclaimer: This content is purely for knowledge and educational purposes. It contains only general information and references to legal content. It is not legal advice, and should not be treated as such
Manish Gupta
Founder, FCA, India Entry and Tax Compliance Strategist
“I Don’t Have Dreams, I Have Goals” .
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