Extension of time Gap between two consecutive Board Meetings
– In view of the difficulties faced by various stakeholders due to resurgence of Covid-19, the Ministry of Corporate Affairs (MCA) has vide General Circular No. 08/2021 extended the time gap by a period of 60 days for the first two quarter for financial year 2021-22 for holding of Board Meetings under Section 173 of the Companies Act, 2013. Accordingly, the gap between two consecutive Board Meetings may extend to 180 days during the quarter April-June,2021 & quarter July -September, 2021, instead of 120 days as required in the Companies Act, 2013.
Relaxation on levy of additional fees in filing of various forms under Companies Act, 2013 & LLP Act, 2008
– In view of the COVID-19 related restrictions and disruptions, Ministry of Corporate Affairs (MCA) has received requests from various stakeholders for relaxation on levy of additional fees for filing various forms under Companies Act, 2013 and LLP Act, 2008. Therefore, Ministry vide General Circular No. 06/2021 has decided to grant additional time for filing of such forms (other than CHG-1 Form, CHG-4 Form and CHG-9 Form) without any additional fees. If the due date of filing of these forms would arise between from 1st April, 2021 to 31st May, 2021, there will be no additional fees for filing of these forms till 31st July, 2021.
Relaxation of time for filing forms related to creation/modification of charge under Companies Act, 2013
– As per the General Circular no. 07/2021 issued by the Ministry of Corporate Affairs (MCA), the time for filing forms related to creation or modification of charges under the Companies Act, 2013 has been extended. This is in the light of resurgence of COVID-19 pandemic, representations have been received in the Ministry requesting relaxation of timelines related to filing of certain charge related for:
– As per this circular, a company or a charge holder,
(a) where the date of creation/modification of charge is before 01.04.2021, but the timeline for filing such form had not expired as on 01.04.2021, the first day after 31.03.2021 shall be reckoned as 01.06.2021 for calculating days under section 77 of the Act.
Fees:
- If the company files the form between 01.04.2021 to 31.05.2021 then fees applicable on such form as on 31.03.2021 is required to be paid till 31.05.2021.
- If the Company file form after 31.05.2021, then 01.06.2021 shall be considered as next day of 31.03.2021 for the purpose of fees payable on the Charge Form.
(b) where the date of creation/modification of charge falls on any date between 01.04.2021 to 31.5.2021 (both dates inclusive), the period beginning from the date of creation/modification of charge to 31.05.2021 shall not be reckoned for the purpose of counting of days under section 77. For these companies, the first day after the date of creation/modification of charge shall be reckoned as 01.06.2021 for calculating days under section 77 of the Act.
Fees:
- If the company files the form before 31.05.2021 then normal fees shall be applicable on such form.
- If the Company files form after 31.05.2021, then 01.06.2021 shall be considered as the date of creation/modification of charge and the number of days shall be counted accordingly for the purpose of payment of fees on such form.
Non applicability of this circular:
a) The forms i.e.CHG-1 and CHG-9 had already been filed before the date of issue of this
Circular.
b) The timeline for filing the form has already expired under section 77 or section 78 of the Act prior to 01.04.2021.
c) The timeline for filing the form expires at a future date, despite exclusion of the time provided in sub-para (ii) above.
d) Filing of Form CHG-4 for satisfaction of charges.
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