Mca Ecods Form 2018 - Condonation of Delay Scheme

The

Condonation of Delay Scheme, 2018 announced by the Ministry of Corporate Affairs is active from 1st January 2018 to 31st March 2018. Directors who were recently disqualified for failure to file MCA annual return can file Mca Ecods Form 2018 to regularise compliance and avoid permanent disqualification for a period of 5 years. Note: The deadline for filing eCODS form has been extended upto 30th April 2018. Know more.

Filing Form eCODS

Form eCODS can be filed by directors who were disqualified. Currently, the DIN of Directors who were disqualified has been de-activated. Hence, the disqualified Directors have not been able to file the overdue annual return or any other forms with the MCA. From 1st January 2018 to 31st March 2018, the DIN of all disqualified Directors will be temporarily re-activated. The disqualified Directors are to use the condonation of delay scheme and this window to regularise compliance.

Step 1: Prepare Financial Statements & Complete Statutory Audit

Before filing eCODS form, the Directors of the company must first prepare the necessary overdue financial statements and get the same audited for all the years where returns was not filed. Once, the financial statements are audited and the Annual General Meetings are conducted, the MCA annual return along with the necessary attachments must be filed with the MCA along with payment of any penalty for late filing of MCA annual return.

Step 2: Filing Form eCODS

Once all the overdue annual returns have been filed, form eCODS must be filed by the Director before 31st March 2018.

Important Note: Form eCODS will not be available for download on the MCA Portal until 20th February 2018. However, the Directors will be allowed to file the overdue MCA annual return from 1st January 2018. Hence, all overdue compliance can be completed before the release of eCODS form by the MCA. Once form is made available, the Directors would have to file eCODS form with the details of all overdue MCA annual returns filed along with a payment of Rs.30,000. On filing eCODS form, the Director Disqualification would be removed and the DIN of the Directors would remain active even after 31st March 2018. Sample eCODS Form is reproduced below for reference:

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Failure to File eCODS Form

In case a company regularised all compliance before 31st March 2018 but failed to file eCODS form, then the Directors DIN would be deactivated after 31st March 2018. Hence, all disqualified directors availing the Condonation of Delay Scheme must file eCODS form along with the Rs.30,000 penalty to regularise compliance. Note: In case you need assistance with filing form eCODS under the Condonation of Delay Scheme, get in touch with an IndiaFilings Advisor at

sales@indiafilings.com or help@indiafilings.com.

Failure to Avail Condonation of Delay Scheme

Any disqualified Director who has failed to avail the relief provided through the condonation of delay scheme will have to face disqualification for a period of 5 years. During the disqualification period, the Director will not be able to start a new company and face other consequences for defaulting on compliance as provided under Companies Act, 2013.

MCA Circular on Form eCODS and Condonation of Delay Scheme

MCA circular about Condonation of Delay scheme and eCODS form 2018 is reproduced below for reference:

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Frequently Asked Questions

Common questions about MCA eCODS Form 2018: Compliance & Filing Guidance.

The Condonation of Delay Scheme 2018 was introduced by the Ministry of Corporate Affairs to provide relief to directors who were recently disqualified for failure to file MCA annual returns. It allows them to file the eCODS form 2018 to regularise compliance and avoid permanent disqualification for a period of 5 years.

The eCODS form 2018 can be filed by directors whose DIN (Director Identification Number) was deactivated due to disqualification for not filing MCA annual returns. The scheme temporarily reactivates their DIN to enable them to file the overdue annual returns and the eCODS form.

Initially, the deadline for filing the eCODS form 2018 was 31st March 2018. However, the deadline has been extended until 30th April 2018.

First, the directors must prepare the overdue financial statements, get them audited, and file the pending MCA annual returns along with late filing penalties. Once all overdue returns are filed, they can file the eCODS form with a payment of Rs. 30,000 before the deadline.

If a company regularises all compliance before the deadline but fails to file the eCODS form, the directors' DIN will be deactivated again after the deadline. Therefore, filing the eCODS form along with the penalty is crucial to regularise compliance and avoid disqualification.

If a disqualified director does not avail the relief provided by the Condonation of Delay Scheme, they will face disqualification for a period of 5 years. During this time, they will not be able to start a new company and will face other consequences for defaulting on compliance under the Companies Act, 2013.

According to the article, the eCODS form will not be available for download on the MCA portal until 20th February 2018. However, directors can file overdue MCA annual returns from 1st January 2018 to complete compliance before the release of the eCODS form.

The penalty for filing the eCODS form 2018 under the Condonation of Delay Scheme is Rs. 30,000.

Yes, the article mentions that if directors need assistance with filing the eCODS form under the Condonation of Delay Scheme, they can get in touch with an IndiaFilings Advisor at sales@indiafilings.com or help@indiafilings.com.

The MCA circular reproduced in the article provides official information and guidelines regarding the Condonation of Delay Scheme and the filing of the eCODS form 2018 for disqualified directors to regularise compliance.