CFSS 2020 Benefits 4,73,131 Indian and 1,065 Foreign Companies

CFSS 2020 Benefits 4,73,131 Indian and 1,065 Foreign Companies

The Ministry of Corporate Affairs (MCA) on 30.03.2020 had launched the Companies Fresh Start Scheme, (CFSS) 2020, to provide opportunities to Companies to make good any filing related defaults, regardless of duration of defaults, and make a fresh start as a fully compliant entity.

As per records available with MCA, 4,73,131 number of Indian Companies and 1,065 number of Foreign Companies have been benefited by availing the Companies Fresh Start Scheme (CFSS), 2020 for filing their pending documents.

Further, it clarified that the scheme condoned the delay in filing the belated documents and gives immunity from prosecutions and proceedings for imposition of penalty which might arise on account of such delayed filing of documents.

No additional fees were charged for late filing during a moratorium period from 1st April to 31st December, 2020 in respect of documents, returns etc. required to be filed in MCA-21 Registry.

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