CONDONATION OF DELAY SCHEME 2018”

Ministry of Corporate Affairs in September 2017 had disqualified approx 3,09,614/- directors who were associated with the companies who had failed to file their annual statements and Annul Return with Registrar of Companies for lass three Financial Years. You can search for defaulting director on www.mcadefaulter.com

To give these defaulting Companies and their directors a final chance to remove themselves from defaulter list, Ministry of Corporate Affairs had on 29th December 2017 vide its circular No 16/2017 issued a scheme named

Condonation of Delay Scheme 2018”

Kashif Ali, a fellow member of the Institute of Company Secretaries of India and owner of ‘Kashif Ali &  Associates, Company  Secretaries’ Delhi, has analyzed this scheme and bring it to you for easy understanding.

 

 

Scheme is available:                        From: 1st January 2018 to 31st March 2018

 

Scheme is available for:                 Companies whose status is “Active” on MCA Portal

 

Scheme is not available for:          Companies who are struck off  or whose ame has been removed from the ROC u/s 285(5)

 

 

Process to avail this scheme:

  1. DIN of all disqualified directors shall be re activated- automatically during the validity of the scheme
  1. Defaulting company shall file “overdue documents” with statutory fees and additional fees.
  1. After successful filing of all overdue documents , the company shall seek condonation of delay in E form E-CODS
  • *The Filing fees for E-form CODS shall be Rs. 30,000/-
  • ** For companies whose name have been struk off u/s 248 and had filed application for revival u/s 252 of the Act , the DIN of those directors shall only be re-activated after NCLT Order

What if Company do not avail this scheme?

  1. The DIN of defaulting directors shall be deactivated .
  2. ROC shall take all necessary actions under the companies Act 2013 against companies who had not availed this scheme

 

What are overdue documents or which E-form can be filed under this scheme?

Under this scheme only the following e forms can be filed.

Sr. No. Name of the E-form Purpose
1. Form 20B / MGT-7 Form for filing Annual return by a

company having share capital

2. Form 21A/MGT-7 – Particulars of Annual return for the company not having share capital
3. Form 23AC, 23ACA, 23AC-XBRL, 23ACA-XBRL, AOC-4, AOC-4(CFS), AOC (XBRL) and AOC-4(non-XBRL) – Forms for filing Balance Sheet/Financial Statement and profit and loss account.
4. Form 66 – Form for submission of Compliance Certificate with the Registrar
5. Form 23B/ADT-1. – Form for intimation for Appointment of Auditors

Ref: http://www.mca.gov.in/Ministry/pdf/Generalcircular16_29122017.pdf

click here to Read text of the circular

 

 

Thanks & Regards:

For www.mcadefauter.com

Kashif Ali

FCS, LL.B, M.Com

C-100, Ground Floor, Sarai Julena

New Friends Colony, New Delhi-25

Call us : +91 9718483209

Mail us : cs.alikashif@gmail.com

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