New Delhi [India], September 28 (ANI): Minister of Finance and Corporate Affairs Nirmala Sitharaman on Monday said that the duration of several schemes has been extended till December 31 due to COVID-19.
"The Ministry of Corporate Affairs has extended the duration of several schemes till 31.12.2020 in view of the continued disruption caused due to the COVID-19 pandemic in certain parts of the country and to provide greater Ease of Doing Business," a tweet from the Office of Nirmala Sitharaman said.
In a series of tweets, the Minister informed about the introduction of new schemes.
"The Ministry of Corporate Affairs had introduced a new scheme known as the Companies Fresh Start Scheme, 2020, valid from 01.04.2020 to 30.09.2020 to enable companies to make good their previous defaults. This Scheme has now been extended till 31.12.2020," said another tweet.
The MCA had also introduced a new scheme known as the LLP Settlement Scheme, 2020 which was valid from 01.04.2020 to 13.06.2020 and was later extended till 30.09.2020. The Scheme has been further extended to 31.12.2020 to enable LLPs to make good their previous defaults, Sitharaman said in another tweet.
The Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 and the time for conducting EGMs through Video Conference or Other Audio Visual Means also stand extended till 31.12.2020.
In continuation of the extensions being given for compliance relaxations previously announced, MCA has extended the time period upto which companies can conduct their board meetings through VCs or Other Audio Visual Mechanism for all items of business to 31.12.2020.
The Ministry of Corporate Affairs has also extended the time within which Independent Directors of companies have to register themselves on the databank maintained by the IICA from 30.09.2020 to 31.12.2020. (ANI)