In view of the difficulties arising due to resurgence of Covid-19 and representations received from various stakeholders, Ministry of Corporate Affairs has granted certain relaxations with respect to the compliances and levy of additional fees on forms to be filed under the Companies Act, 2013 ("CA13") and Limited Liability Partnership Act, 2008 ("LLP Act").
RELAXATION ON LEVY OF ADDITIONAL FEES OF FILING OF CERTAIN FORMS
(GENERAL CIRCULAR NO. 06/2021 DATED 03.05.2021)
All forms to be filed under CA13 and LLP Act may be filed by the companies/LLPs without levy of any additional fees upto 31.07.2021, which were/would be due for filing during 01.04.2021 to 1.05.2021.
This is not applicable to filing of Form CHG-1, CHG-4 and CHG-9.
RELAXATION ON LEVY OF ADDITIONAL FEES OF FILING OF FORMS RELATED TO CREATION OR MODIFICATION OF CHARGES
(GENERAL CIRCULAR NO. 07/2021 DATED 03.05.2021)
Applicability: This Circular shall be applicable in respect of Form CHG-1 and CHG-9.
In case the date of creation/modification of charge is:
(i) before 01.04.2021, but the timeline for filing the form had not expired under section 77 as on 01.04.2021, then if:
- the form is filed, the period of beginning from 01.04.2021 and ending on 31.05.2021 shall not be reckoned for counting the number of days under Section 77 or 78 of CA13.
- the form is not filed within such period, then the first day after 01.04.2021 shall be reckoned as 01.06.2021 for calculating number days under section 77 or 78 CA13.
- If the form is filed before 31.05.2021, normal fees payable as on 31.03.2021 shall be charged.
- If the form is filed after 31.05.2021, then the fees shall be charged after adding the number of days beginning from 01.06.2021 till the date of filing in addition to the time period lapsed from date of creation of charge till 31.03.2021.
(ii) falls on any date between 01.04.2021 to 31.05.2021 (both dates inclusive), then if:
- the form is filed, the period beginning from date of creation/modification of charge to 31.05.2021 shall not be reckoned for counting the number of days under Section 77 or 78 of CA13.
- The form is not filed within such period, then the first day after the date of creation/ modification of charge shall be reckoned as 01.06.2021 for calculating number of days under section 77 or 78 of CA13.
- If the form is filed before 31.05.2021, normal fees shall be charged.
- If the form is filed after 31.05.2021, then the fees shall be charged with the first day after the date of creation/modification of charge being taken as 01.06.2021 and the number of days till the date of filing shall be counted accordingly for levy of fees.
This Circular shall not apply in the following cases:
- CHG-1 and CHG-9 had already been filed before date of this Circular.
- The timeline for filings forms under Section 77 or 78 had already expired prior to 01.04.2021.
- The timeline for filing the form expires at a future date, despite exclusion of the time given above.
- Filing of CHG-4 for satisfaction of charges.
GAP BETWEEN TWO BOARD MEETINGS UNDER SECTION 173 OF THE COMPANIES ACT, 2013
(GENERAL CIRCULAR NO. 08/2021 DATED 03.05.2021)
The gap between two consecutive meetings of the Board has been extended from 120 days to 180 days during two quarters April to June 2021 and July to September 2021.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.