The Ministry of Corporate Affairs (MCA) has informed that MCA had launched the Companies Fresh Start Scheme (CFSS), 2020 and introduced LLP Settlement Scheme, 2020.
Both schemes were to provide opportunity to companies/ LLPs to make good any filing related defaults, regardless of duration of defaults by filing pending documents with the Registrar of Companies or to make a fresh start as a fully compliant company.
As per the record, 4,73,131 Indian Companies and 1,065 number of Foreign Companies have benefited by availing the CFSS, 2020 scheme. While 1,05,643 LLPs have benefited by availing the LLP settlement scheme 2020.
Both the schemes have been provided a sufficient period of time ended on 31st December, 2020 to make good their defaults and accordingly, further extension of the scheme was not found necessary. Therefore, no such proposal is under consideration of the Ministry in this regard, the Minister added.
Click here for official press release:
Knowledge Source:
BPCL Privatisation in Progress but Little Info On Terms and Conditions