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Companies Fresh Start Scheme 2020

File all pending returns without any penalty

The central government has launched the Companies Fresh Start Scheme with effect from 1st April 2020 to allow a defaulting or inactive company to file any document, statement, returns including annual returns to the Registrar of Companies of any period without payment of any additional fee and penalty. This is a golden opportunity to file all old & pending returns of your company without any additional fee and penalty

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What is the Fresh Start Scheme 2020 (CFSS-2020)

Frankly speaking, it is an incredible scheme introduced by the Ministry of Corporate Affairs (MCA) in India, which gives a one-time relaxation from any additional fee, penalty or prosecution under the companies act with respect to pending returns of any kind by a company. The scheme is effective from 1st April 2020 and shall continue until 30th September 2020.

As the name of the scheme suggests it is a one time opportunity for the companies to do due diligence to find out if there is any lapse in the filing of any document, statement or return to the ROC.

You can avail of our Free Service to do due diligence for you and send you a report on the Compliance Status of your company. We will also suggest the remedial step for the same. Please mail us at ca@setindiabiz.com

Minimum Two Person

Start Of The CFSS 2020 Scheme

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

Resident Director

Applicability Of The Scheme

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.

Capital Requirement

All Additional Fee & Penalty Waived Off

Every document, statement or returns as prescribed under the companies act have a prescribed due date. When a company fails to file the ROC Forms/Returns the same can be filed with an additional fee as per section 403 of the act. The additional fee for default in filing the annual return is Rs. 100 per day. For example, if a company has delayed the filing by six months then the additional fee shall be more than 18,000 for one form only. Under this scheme, the additional fee, as well as penalty, has been completely waived off.

Unique Name of Company

File All Pending Returns Of Your Company

If your company has defaulted in filing any ROC Return, don't miss this opportunity and take maximum advantage of it. Act fast and file the pending returns with normal ROC Filing Fee. We can help you to check ROC Due Diligence of your company without any charges.

Unique Name of Company

File An Application For Immunity From Prosecution

A Company after filing all its pending forms, documents, statement, and returns need to make an application in the prescribed form within six months of the close of this scheme. It means the last date of filing an immunity application under CFSS 2020 will be 31st March 2021.

Unique Name of Company

Scheme Ends on 30th September 2020

As per General Circular No 12/2020, the Company Fresh Start Scheme shall come to an end on 30th September 2020. After the scheme is closed the fee for filing shall return to its ordinary form as per section 403 of the Companies Act.

Eligible Forms Under Company Fresh Start Scheme 2020

All forms are eligible except those which have been specifically marked as Not Allowed. Please see below section

  • INC - 20A
    : Declaration For Commencement of Business
  • AOC - A
    : To File Balance Sheet (Financial Statement)
  • MGT - 7
    : Annual Return Of The Company
  • ADT - 1
    : Return on Auditor Appointment
  • ADT - 3
    : Return on Auditor Resignation
  • DIR - 3 KYC
    : Director KYC
  • INC - 22A
    : Company KYC (Active)
  • DIR - 11
    : Notice of Resignation by a Director
  • DIR - 12
    : Director Or KMP Appointment Or Changes Thereof
  • 20 - B
    : Annual Return under The Companies Act, 1956
  • 23 - AC
    : Filing of Balance Sheet under The Companies Act, 1956
  • Form - 66
    : Compliance Certificate From CS
  • DPT - 3
    : Return of Deposits
  • Others
    : All Other Forms Unless Marked as Not Allowed

Scheme Will Not Apply in Following Cases

  • In Case Application For Closure Already Filed
  • In Case Action For Closure Is Already Initiated
  • Companies Under Amalgamation
  • If application for Dormant Status is already filed
  • In case of Vanishing Company
  • Forms relating to Increase of Capital & Charges
  • 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

    1. Keep doing business and always remain compliant
    2. Close your business by filing STK-2 Form

Frequently Asked Questions

What is the purpose or intent of CFSS 2020?

The purpose of the Companies Fresh Start Scheme is to reduce the compliance burden on the corporates by giving an opportunity to all the companies who have defaulted in the past with respect to any ROC Filing. This is an incredible amnesty scheme by MCA which allows a defaulting/inactive company to file all pending compliance related returns and documents in the MCA-21 portal without any heavy additional fee and penalty.

What is the benefit of the Companies Fresh Start Scheme?

There are two major advantages of this scheme, first it allows a window of opportunity to comply with the legal provisions of the Companies Act, 2013. Secondly there is complete waiver of the additional fee, which is really a very big benefit to the corporates. Apart from the two benefits the company and its directors are gransted an immunity from prosecution.

What is the timeline of this Scheme?

The timeline of the scheme gives a window of six month from 1st April to 30the September 2020, within which the company should file all its pending returns and file the form for immunity must be filed after close of the said window allowed for filing.

Is the CFSS Scheme also applicable to companies only or even LLP?

As the name of the scheme itself suggests it is a scheme exclusively for all companies who have defaulted in the past for filing any of the ROC Form. The CFSS-2020 does not apply to an LLP. However a somewhat similar scheme has also been launched by the ROC known as LLP Settlement Scheme 2020.

What is the due date of filing E Form CFSS-2020?

The eform CFSS-2020 is required to be filed after the window of filing the pending application is over, i.e 30th September 2020. However the last date of filing the eform CFSS-2020 is 30th March 2021.

What shall be the fee payable on filing the pending e-forms ?

The government fee for filing the allowed forms under the Companies Fresh Start Scheme shall be its normal filing fee as prescribed under rules. It is further clarified that there is no fee prescribed for filing of immunity eform CFSS-2020.

What is the eligibility for availing this Scheme?

The CFSS defines the eligibility criteria within the scheme itself. It says that all defaulting companies shall be able to take advantage of the amnesty scheme launched by the ROC called CFSS-2020. Further the definition of a Defaulting Company has also been provided in the General Circular itself, which means any company which has not filed its returns are a defaulting company and they can avail this scheme.

What kind of companies can avail the benefits of this scheme?

This scheme is available to all active companies, irrespective of its size and type. Any company which has ever defaulted in filing a document, statement or return to the registrar of companies can take benefits of this scheme.

Can a company which did not filed Active Form take advantage of this Scheme?

Well, this scheme also allows a Active Non Compliant company to file the INC-22-Active without the additional fee of Rs. 10,000/- We suggest you to file the Company KYC form first then the status of the company shall change into an active company. Thereafter you can very well take advantage of this scheme.

Can the directors also file their pending DIN KYC Forms under this Scheme?

As per the MCA, all the DIN which has been marked as Deactivated due to non filing of the DIR-3 KYC has been marked as Active and the directors can now first file their DIR-3KYC and then they may file any belated return of the company

Can a foreign company also take advantage of the CFSS-2020 Scheme?

Answer is yes, just like any other company a foreign company can also take advantage of this scheme.

Can a Nidhi Company take advantage of the CFSS 2020 Scheme?

Yes, just like any other company a Nidhi Company can very well take advantage of the Company Fresh Start Scheme and file all its belated returns with any late fee and penalty

Is it necessary to file all pending returns to claim immunity under this Scheme?

Yes, Please refer to point no 3 of the Draft E-Form CFSS-2020 as annexed with the General Circular No 12/2020., a company has to give details of the forms filed along with the SRN number. Hence this MCA Amnesty scheme is good only when all the pending forms have been filed.

What are the e-forms which shall be given benefit of no late fee under this Scheme?

Under the Companies Fresh Start Scheme 2020 (ROC Amnesty Scheme) Almost all forms barring few are covered in this scheme, forms of old Companies Act 1956 as well as of the current Companies Act, 2013 is allowed to be filed. Except the forms relating to increase in authorised capital and relating to Charges all e-forms are allowed under this scheme

Whether this Scheme will provide immunity to the defaults in filing the annual return?

The instant MCA Amnesty Scheme known as Company Fresh Start Scheme (CFSS 2020) has one of the main purposes to encourage companies to file all pending returns including the annual returns. The scheme not only covers default under the Companies Act, 2013 but it further extends to defaults made under The Companies Act, 1956. It can be said without any doubt that this scheme covers the annual returns very well.

Give me an example of the benefit of this scheme if I file annual returns of the past two years?

To illustrate the benefits of this scheme let's take an example. Suppose a company ABC Private Limited has not filed its annual returns for the past two financial years i.e 2017-18 & 2018-19 having Authorised capital of Rs 1,00,000, then the following shall be the cost saving in the new scheme. The below calculation is as on 31st March 2020.

Sl. No Form Name Delay (Days) Normal Cost Late Fee
1 AOC-4 - (FY 2017-18) 522 300 52,200
3 MGT-7 - (FY 2017-18) 487 300 48,700
7 AOC-4 - (FY 2018-19) 154 300 15,400
8 MGT-7 - (FY 2018-19) 126 300 12,600
Total 1200 128,900

As you can see from the above table that under the Companies Fresh Start Scheme there is substantial saving of Rs. 128,900/- on Late Fee apart from immunity from the prosecution by the ROC.

What will happen to those companies, which does not take advantage of this Scheme?

The Scheme is valid until 30th September 2020. We urge you to file all pending returns without any second thought and come clean. We have never seen such an amnesty scheme giving a one time waiver of additional fee for all the pending MCA E-Forms.

However, if someone misses the opportunity, then the ROC would go behind all the prompters, directors, KMP and file prosecution cases. The exorbitant additional fee will come in way while filing the old return to the ROC. In short the companies which could not take advantage of CFSS shall face all the consequences as may be applicable to a defaulter in the Companies Act, 2013.

What will happen if the company fails in filing the CFSS 2020 within its due date?

As explained earlier the last date to file eform CFSS-2020 with the digital signature of at least one director is 30th March 2021. A company must not miss to make an application for grant of Immunity from the prosecution. However if some one misses, then though all old forms which are filed under this scheme will continue to remain valid.

Having said that it would be open for the ROC to initiate prosecution in default of non filing of e-form CFSS 2020. There is no clarity as of now if the Companies will be subjected to pay additional fee and penalty on the forms filed under this scheme in case the immunity is not granted.Learn More

How can setindiabiz help us in filing all roc forms and CFSS 2020?

Setindiabiz provides professional service for, Registration of Companies & LLPs with the registrar of companies all over India and to obtain all kinds of Licences as may be necessary. We further assist the companies to meet all the compliances and prodes services of a Chartered Accountant, Company Secretary and Lawyers at one single place. We shall help you to do due diligence for the ROC Amnesty Scheme and then you can avail of our services for filing of the pending ROC Returns.

Where can I go to meet the Setindiabiz advisor to understand in detail about CFSS- 2020 amnesty Scheme?

We have our offices located in Delhi, Mumbai, Bangalore and Hyderabad. You are welcome to meet us at any place as per your convenience. However please take prior appointment before walking in to our offices.

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