Company Law Update: Various relaxations under Companies Act, 2013 due to difficulties caused by Covid-19 pendemic

∆ Ministry of Corporate Affairs (MCA) has further UPDATED list of forms for which additional fees are waived off on June 3, 2021:

✓ In addition to forms under Companies Act, 2013, forms to be filed under Companies Act, 1956 has also been added.

✓ In reference to MCA General Circular No. 7/2021, all the forms mentioned below (except Form CHG 1, CHG 4 & CHG 9) and whose due date fall between April 1, 2021 to May 31, 2021 required to be filed by July 31, 2021 to avoid additional fees. For such delayed filings upto July 31, 2021 only normal fees shall be payable.

✓ For Form CHG 1, CHG 4 & CHG 9, MCA General Circular No. 6 required to be referred for waiver of additional fees.

∆ Relaxation in Gap between Two Board Meetings under Companies Act, 2013

✓ In view of difficulties caused by Covid-19 pendemic, Ministry of Corporate Affairs (MCA) has relaxed time gap between two board Meetings.

✓ Under the Sec 173 of the Act, companies required to hold Meetings of the Board within gap of 120 days, which is extended by period of 60 days for First Two Quarters.

✓ Therefore, gap between holding meetings now stands for 180 days instead of 120 days under the Companies Act, 2013.

✓ Relaxation is applicable for April to June 2021 and July to September, 2021 Quarters.

∆ Relaxation on levy of Additional Fees in filing of Certain Forms under the Companies Act, 2013 and LLP Act, 2008.

✓ MCA has granted additional time upto July 31, 2021 for Companies/ LLPs to file forms (other than CHG-1, CHG-4 & CHG-9) without any additional fees 

✓ Therefore, no additional fees shall be levied upto July 31, 2021 for the delayed filings of forms other than above-mentioned which were/would be due for filing during April 1, 2021 to May 31, 2021.