WEBINAR ON “COMPANIES FRESH START SCHEME (CFSS) AND LLP SETTLEMENT SCHEME, 2020”

The Companies Act, 2013 requires all the companies to file Annual Return and financial statement on annually basis with MCA. Further, various other set of documents, returns, statements etc. are also required to be filed within the prescribed time limit. Non-compliance with the said provisions results in substantial penalties.

In order to give an encouragement to the companies for completing the pending filings and to reduce the burden of cost in terms of high penalties associated with the late filings the Ministry of Corporate Affairs (MCA) has introduced ‘The Companies Fresh Start Scheme’ (CFSS) read with Limited Liability Partnership Settlement Scheme.

The Scheme is seen one as a major relief for companies and also a onetime opportunity for defaulting companies to file their long pending documents / statements etc. The scheme will be available till 30th September, 2020.

To facilitate understanding the benefits and opportunities available for companies and professionals the Commercial & Allied Laws committee of the Chamber of Tax Consultants have organized a webinar, to cover, inter-alia the following aspects relating to the said Scheme.

• Companies Fresh Start Scheme – A never before opportunity

• Shift from Physical processes of penalizing to automatic process (Adjudication Mechanisms)

• Opportunities to professionals under the said scheme

• Coverage of E-Forms covered in connection to Companies, Limited Liability Partnerships, Liasion Office, Branch Office and Project Office.