Step - 1: Due Diligence Check - 1-2 Days
Through the process of due diligence, you shall discover all the defaults of the past and can take remedial steps to correct it. The CFSS-2020 scheme gives a one time opportunity to come clean and start afresh. We have a Complimentary Service to do Due Diligence Limited to ROC. Please contact us
Step - 2: File All Pending Returns - Within one week
Once you know what are the forms, documents, statements, and returns, which have to be submitted to ROC, get it done. We have a dedicated team of Company Secretaries and We can help you to file all your pending returns on a reasonable professional fee. Please note that 30th September is the last date to file pending forms under CFSS-2020
Step - 3: Wait for approval of the ROC - Instantly to 10 Days
After you have filed all your pending forms, wait for its approval by the ROC. The annual returns like AOC-4, MGT-7, etc get approved instantly based on the professional attestation. However, forms like MGT-14 may take some time in getting approved.
Step - 4: File Immunity Form in CFSS-2020
Once all filed forms have been approved, you need to file an application for issuance of the Immunity Certificate under CFSS-2020. The application for grant of immunity can be filed only after the Scheme is over and all the pending forms have been filed. However, the maximum time within which the immunity application is to be filed is within six months of scheme closure. I.e. The Last Date is 30th March 2021.
Step - 5: Wait for approval of the CFSS-2020
Well, you have done all things which were required under the Companies Fresh Start Scheme, 2020. Wait for the approval of your immunity application. In case there is any resubmission required or the ROC seeks further information, please do provide that promptly, remain vigilant until it is approved.
Step - 6 : Move ahead in Life
Well, since now all pending compliance of the companies Act is over, relax and take appropriate steps to do the complete due diligence of your business. You may do the following
- Keep doing business and always remain compliant
- Close your business by filing STK-2 Form
The Companies Fresh Start Scheme, 2020 is already notified by way of a General Circular No. 12/2020 on 30th March 2020 and the Scheme Shall Come into Force on 01st April 2020
The scheme is available to all defaulting companies which has not filed any form to the ROC within its due date and thus has defaulted under the Companies Act, 2013. This scheme is available to all companies irrespective of its type, hence it is available to every Private Limited Company, One Person Company (OPC), Small Company, Section -8 Company, Nidhi Company, Producer Company and all Public Limited Companies.