Corporate Alert – FAQs on Questions on Companies Fresh Start Scheme -2020 April 12, 2020
Disclaimer: The views expressed in this document are based on our understanding of the legal position prevailing as on the date of issue of these FAQ’s. The contents of this document are solely for information. While every care has been taken in the preparation of these FAQ’s to ensure its accuracy at the time of publication, Vaish Associates Advocates assumes no responsibility for any errors which despite all precautions, may be found therein or any liability for any loss or damage of any kind arising out of any information in this article nor for any actions taken consequent to placing reliance thereon. The material contained in this document does not constitute/substitute professional advice that may be required before acting on any matter.
Ministry of Corporate Affairs (“MCA”) vide its circulars dated March 24, 2020 and March 30, 2020 has come out with a “Companies Fresh Start Scheme-2020” giving one time opportunity to the companies to file belated documents without any additional fee.
Further, the scheme also provides for grant of an immunity certificate from any prosecution or penalty. The Scheme is applicable from April 1, 2020 till September 30, 2020.
For ease of understanding the Scheme, we have prepared a set of FAQs. The FAQs are educational in nature and are not intended to serve as legal advice, which would depend on the facts of each case.
A compilation of the FAQs is attached herewith for your ready reference. To read the FAQs, you may click at Download Newsletter. Trust you will find this useful.
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