COVID–19 Statutory and Compliance Relief Measures

In light of COVID-19, there are various Statutory and Compliance Relief Measures undertaken by the Government of India, detailed as under:

Companies Fresh Start Scheme, 2020 (CFSS-2020)

The Ministry of Corporate Affairs on 30th March 2020 issued a circular regarding Companies Fresh Start Scheme 2020.

This is opportunity to all defaulted companies to file the all belated documents as fresh started documents without any additional fees.

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COVID-19 Relief Measures by the MCA

The Ministry of Corporate Affairs has announced various COVID-19 relief measures in respect of compliances for businesses, amidst this global pandemic which is empowering the world. These measures definitely provide the much-needed support and reassurance to companies and LLP’s, registered with the Ministry. The details are stated below:

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What is Statutory Audit

Statutory Audit is primarily aimed at protecting a company’s shareholders. They help investors gain confidence in a company and reflect the company’s true business health and performance.

A fast-paced business environment combined with the need to be in sync with the global standards has raised the performance bar for companies and brought in high-quality statutory audit requirements in the country. Continue reading “What is Statutory Audit”

ACTIVE (INC – 22A) Compliance – KYC for Companies

In order to do KYC of companies and to verify their registered office, the Ministry of Corporate Affairs (MCA) has on 21st February 2019 issued Companies (Incorporation) Amendment Rules, 2019 whereby every company, including a company having license under section 8 of the Indian Companies Act 2013 or under section 25 of the erstwhile Indian Companies Act 1956 and incorporated on or before the 31st December, 2017 is now required to file important details of the company and its registered office in e-form ACTIVE (INC – 22A) on or before 25th April 2019. Continue reading “ACTIVE (INC – 22A) Compliance – KYC for Companies”