IndiaFilings / Learn / Legal / Various Due Dates Extended Till 31St December 2020 Under Company Law
Various due dates extended till 31st December 2020 under company law

Various due dates extended till 31st December 2020 under company law

On account of large-scale disturbance caused by the Pandemic and after due examination, the Ministry of Corporate Affairs announced the extension of various due dates under company law. The entire announcement is taken up and explained in the current article.

List of various extensions provided under company law

In all, the Ministry of Corporate Affairs extended due dates relating to the following compliances-
  1. LLP Settlement Scheme, 2020.
  2. Companies Fresh Start Scheme, 2020.
  3. Holding of Extraordinary General Meetings and Board Meetings via Video Conferencing or Other Audio-Visual Mechanism.
  4. Filing of forms relating to creation or modification of charges.
  5. Registration of Independent Directors of the company on the database maintained by IICA.
All the above extensions are briefly explained hereunder.

Extension relating to the LLP Settlement Scheme 2020

LLP Settlement Scheme 2020 is one-time relaxation announced by the Government applicable to the defaulting LLPs. The Scheme came into force from 1st April 2020. The Scheme provided relaxation in terms of reduction in additional fees. Vide General Circular No. 31/2020 dated 28th September 2020, the Ministry of Corporate Affairs has extended the duration of the Scheme till 31st December 2020. Consequently, by extending the due date, the defaulting LLPs are given additional time to make good their previous defaults.

Extension relating to the Companies Fresh Start Scheme, 2020

The Companies Fresh Start Scheme 2020 is one-time relaxation announced by the Government applicable to the defaulting companies. The Scheme came into force from 1st April 2020. As per the Scheme, the defaulting companies shall pay only the applicable normal fees for all the filings with the MCA 21 registry. No additional fees will be charged whatsoever from the defaulting companies. Vide General Circular No. 30/2020 dated 28th September 2020, the Ministry of Corporate Affairs has extended the duration of the Companies Fresh Start Scheme 2020 till 31st December 2020. Accordingly, the defaulting companies can now file all the pending/ belated filings till 31st December 2020 without payment of any additional fees.

Extension for holding the extraordinary general meeting and board meeting via video conferencing or other audio-visual means

The Ministry of Corporate Affairs has facilitated conduct of the extraordinary general meeting and board meeting through the means of video conferencing or other audio-visual means, vide General Circular No. 14/2020 dated 8th April 2020 and General Circular No. 17/2020 dated 13th April 2020. Earlier the above facility was available till 30th September 2020. However, the Government, vide General Circular No. 33/2020 dated 28th September 2020, extended the facility till 31st December 2020. Notably, rule 4 of the Companies (Meetings of Board and its Powers) Rules, 2014 restricts certain items (like approval of annual financial statement, board’s report, prospectus etc.) to be dealt at the Board Meetings. However, the said restriction is now lifted. Accordingly, all the items can be dealt at the Board Meetings via video conferencing or any other audio-visual means.

Extension relating to the Scheme for relaxation of time for filing of forms relating to creation or modification of charges

Scheme for relaxation of time in the filing of forms relating to creation/ modification of charges was introduced vide General Circular No. 23/2020 dated 17th June 2020. The Scheme is applicable in respect of the filing of Form No. CHG-1 and Form No. CHG-9. Vide General Circular No. 32/2020 dated 28th September 2020, the Ministry of Corporate Affairs has extended the time limit of applicability of Scheme till 31st December 2020. Accordingly, the period beginning from 1st March 2020 to 31st December 2020 will not be counted for the purpose of calculating the number of days under section 77 and section 78 relevant for filing Form No. CHG-1 and Form No. CHG-9.

Extension of time for registration of independent directors of the company on the databank maintained by IICA

As per provisions of rule 6 of the Companies (Appointment and Qualification of Directors) Rules, 2014, the independent directors of the company are required to register his name in the databank of the Indian Institute of Corporate Affairs (IICA). The due date for the same is extended till 31st December 2020.
IndiaFilings
Updated on: October 18th, 2022

Popular Post

Download ePAN Card – Get ePan from NSDL & UTIITSL
80 Small Business Ideas

Starting a small business can be a transformative venture, offering the exciting opportunity...

Nadakacheri – Income Caste Certificate Download Online in Karnataka
TDS Rate Chart for Financial Year 2025-2026 (Assessment Year 2026-2027)

Tax deduction at source, shortly and popularly known as TDS, was introduced by the Income Tax...

Divorce Rules in India: Everything You Need to Know
How To Download GST Registration Certificate Online?

Goods & Services Tax Certificate is issued to people who are registered under GST...

PAN Card Cancellation Online
Find Complete Details of GST Registration Procedure

GST registration applies to all individuals and entities supplying goods or services in India. GST...

Check Your PF Claim Status Online Using PF Tracking ID
Gift Tax in India: Applicability, Exemptions and Rules

Gift tax in India is applied when the value of the received gift exceeds ₹50,000 in the...

Check Your PF Claim Status Online Using PF Tracking ID
Old Regime vs New Regime 2025: Which Tax Regime is Better for You?

The Union Budget 2025 has brought significant changes to India’s personal income tax structure, raising the...

Check Your PF Claim Status Online Using PF Tracking ID
What is the minimum turnover for GST?

The Goods and Services Tax (GST) is an indirect tax system introduced in India in 2017. It functions...

Check Your PF Claim Status Online Using PF Tracking ID
How can I check if a trademark is registered?

A trademark search is simply checking if another person or organization does not already own the...

Check Your PF Claim Status Online Using PF Tracking ID
Section 194H of the Income Tax Act: TDS on Commission & Brokerage

Section 194H of the Income Tax Act in India mandates the deduction of Tax at Source (TDS) on commission or brokerage...

Check Your PF Claim Status Online Using PF Tracking ID
Section 80G Deduction - Income Tax Act

Section 80G Deduction is a facility available in the Income Tax Act which allows taxpayers to...

Check Your PF Claim Status Online Using PF Tracking ID
Crypto Tax in India: Taxation On Cryptocurrency

The Income Tax Department (ITD) has not provided specific guidance on crypto taxes for Indian investors. However...

Check Your PF Claim Status Online Using PF Tracking ID
Internal Audit Applicability Under Companies Act, 2013

Internal audit applicability is a critical concept for companies in India, impacting various...

Check Your PF Claim Status Online Using PF Tracking ID
Difference between Private and Public Company

In the business world, two main types of companies exist: private company and public company...

Check Your PF Claim Status Online Using PF Tracking ID
New GST Rules for Rent

Ministry of Finance vide a Notification No 05/2022- Central Tax (Rate) dated 13.7.2022 has issued...

Check Your PF Claim Status Online Using PF Tracking ID
GSTR-1 and GSTR-3B Due Date Extension - New Due Dates For January 2025

The Central Board of Indirect Taxes and Customs (CBIC) has recently announced an extension...

Check Your PF Claim Status Online Using PF Tracking ID
Different Depreciation Rates under Companies & Income Tax Act

Depreciation is a key concept in finance and accounting. It helps us manage how the value of...

Check Your PF Claim Status Online Using PF Tracking ID
Form 10IA - Section 80DD Deduction

Form 10IA of the Income Tax Department must be filed by taxpayers claiming income tax deduction...

Check Your PF Claim Status Online Using PF Tracking ID
GST on Used Cars: New 18% Tax Rate Explained

The Goods and Services Tax (GST) system in India has been a significant reform in the country's...

Check Your PF Claim Status Online Using PF Tracking ID
MSME Registration - Udyam Registration

India's Gross Domestic Product (GDP) benefits significantly from the substantial...

Check Your PF Claim Status Online Using PF Tracking ID
Section 43B(h) - New MSME 45 Days Payment Rule

The Finance Act, 2023 introduced the MSME 45-day payment rule under Section 43B(h) of the Income Tax Act...

Check Your PF Claim Status Online Using PF Tracking ID
Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024

The Direct Tax Vivad Se Vishwas (DTVSV) Scheme, 2024, was announced by Union Finance Minister...