Companies Act 2013: Covid Relaxations
1. Relaxation on levy of additional fees in filing of certain Forms on MCA21 portal
In view of the Covid-19 related restrictions and disruptions, MCA has granted the additional time for filing of various forms (other than charge related forms) under the Companies Act and LLP Act due for filing during 1st April, 2021 to 31st May, 2021 up to 31st July, 2021 without any additional fees. Accordingly, no additional fees shall be levied up to 31st July, 2021 for the delayed filings of forms (other than charge related forms, i.e. Form CHG-1, Form CHG-4 and Form CHG-9).
For delayed filings up to 31st July 2021 only normal fees shall be payable.
2. Relaxation of time for filing forms related to creation or modification of charge
On account of the resurgence of Covid-19 pandemic, MCA has allowed relaxation of time and condone the delay in filing forms related to creation/ modification of charges (i.e. Form CHG-1 and CHG-9) and the period beginning from 01st April, 2021 and ending on 31st May, 2021 shall not be reckoned for the purpose of counting the number of days under sections 77 and 78 of the Companies Act.
This circular shall be applicable in respect of filing of form No. CHG-1 and Form No. CHG-9 by a company or a charge holder, where the date of creation/ modification of charge:
a. is before 01.04.2021, but the timeline for filing such form had not expired under section 77 of the Act as on 01.04.2021, or
b. falls on any date between 01.04.2021 to 31.05.2021 (both dates inclusive)
Relaxation in timeline and applicable fees under the circular:
Relaxation of time: The period beginning from 01st April and ending on 31st May, 2021 shall not be reckoned for the purpose of counting the number of days under section 77 or section 78 of the Act. In case , the form is not filed between 1st April, 2021 and 31st May, 2021 the first day after 31st March, 2021 shall be reckoned as 1st June, 2021 for the purpose of counting the number of days within which the form is required to be filed.
Applicable Fees: If the form is filed on or before 31st May, 2021, the fees payable as on 31st March, 2021 under the Fees Rules for the said form shall be payable. If the form is filed thereafter, the applicable fees shall be payable as per the Fees Rules after adding the number of days beginning from 1st June, 2021 and ending on the date of filing plus the time period lapsed from the date of the creation of charge till 31st March 2021
3. Relaxation in interval between Board Meetings
In view of the difficulties arising due to resurgence of Covid-19, MCA has extended the maximum interval of Board Meetings to be held in the first two quarters of Financial Year 2021-22 (i.e. Quarters April to June 2021 and July to September 2021) from 120 days to 180 days.