If you have a company that continuously suffered due to the pandemic COVID-19, the ministry of corporate affairs (MCA) has come up with a new scheme Companies Fresh Start Scheme, 2020 (CFSS) which specify that there is a recovery of the strike-off company without fee of roc penalty (Registrar of Companies) and also considered for removal of Directors Disqualification in their new notification. Before it, most of the existing companies facing the difficulty due to strike off under Section 164 of the Companies Act, 2013, and have not been able to revive it.
About Company Fresh Start Scheme 2020
Companies Fresh Start Scheme, 2020, is confirmed from 1 April 2020 to 30 September 2020 and offers companies the opening of a one-time application of condonation of suspension of filling the different documents, forms, returns, etc. Registrar. The most important benefit for companies will be availing this scheme and get the recovery of the strike-off company
Removal of Directors for Disqualification
The ministry of corporate affairs (MCA) had disqualified around 3.09 lakh directors. And comply with the regulations stated under section 164(2) and 167(1)(a) of the Act. As an additional preventive measure, the authority has blocked DIN of all the disqualified directors. And after the procedure, many aggrieved directors and company came out seeking clarification for the same. As a result, the ministry came out with the ‘Condonation of Delay Scheme’, where it provides a chance to file the required documents and protect their current position and get recovery of Strike Off Company without Fee of ROC Penalty
Opportunity and Benefits for Struck Off Companies
Moreover, MCA has come out with so many opportunities and benefits for Struck off companies –
- No fee charged on this particular form.
- Will get protection for six months after the date of closure of the CFSS 2020.
- Will get the designated authority will issue the security Certificate.
- This scheme mandates the financial burden on such companies reduced.
- However, a company is authorized to file annual returns for 3 to 4 years without penalty.
If you have a struck-off company, do not let this golden chance of reviving your company.
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