Any Company and LLP which has failed to file any mandatory form with ROC can avail this scheme.

No, the scheme can be availed by defaulting Companies only so the officer in default cannot avail the scheme.

The object of CFSS 2020 to give opportunity for companies and LLP to submit their pending forms and do all pending compliances by paying normal fees and no need to pay additional fees. So they can save big amount of penalty rather they need to pay full amount if scheme not introduced.

Explanation (i) to Section 455(1) of Companies Act 2013 defines the term “Inactive Company” as “Inactive Company” means a company which has

1. not been carrying on any business or operation, OR
2. has not made any significant accounting transaction during the last two financial years, OR
3. has not filed financial statements and annual returns during the last two financial years”

Defaulting Company means a Company defined under Companies Act, 2013 and which has made a default in filing of:

1. Any of Document,
2. Any of Statement,
3. Any of Return etc.
4. Including the Annual Statutory Document

Defaulting Companies will be able to make their compliances good and there will be no prosecution/ penalty for the Companies which file their pending forms till 30^th September 2020 provided such prosecution/ penalty is associated with the filing related default.
No immunity is available for any default other than filing related default.

The forms which are eligible for filing under CFSS, 2020, and are divided into. Annual Based Filing

1. ♦ Annual Return- MGT-7
2. ♦ Financial Statement- AOC-4

1. – PAS-3
2. – MGT-14
3. – ADT-1
4. – Any other form

Below  Two Forms are not eligible under the CFSS 2020 Scheme.<

1. – SH-7- Increase in Authorized
2. – Charge related form (CHG-1, CHG-4, CHG-8 or CHG-9) Capital

Procedure to avail the Scheme will be as follows

1. You have to do to file all of your pending documents and forms before 30/09/2020.
2. There is an E-form CFSS – 2020, which you need to file within the six months of the closure of the said scheme.

No, we do not need to file any application before filing such forms. However on completion of scheme, the company shall need to file e-form CFSS-2020 with no fee and obtain immunity certificate.

As per the CFSS 2020 scheme, filing of Active form is also allowed so company is required to file Active forms without any additional fees and then proceed for further filings.

Relaxation is provided under CFSS 2020 scheme to file DIR-3KYC/DIR-3KYC-Web within the period of the Scheme without filing of any additional fees. Once the DIN is activated, rest of the pending forms can be filed.

The Scheme is effective from 01/04/2020 and shall remain in force till 30/09/2020. Therefore, company will be able to file remaining forms, compliances till 30th September, 2020.

This scheme benefitted Defaulting companies but on the same time this scheme, also encouraged Inactive companies to start fresh by filing all their pending forms at Normal Fee by

1. (i) either to apply for voluntary strike off by filing e-form STK-2; OR
2. (ii) apply for the status of Dormant Company by filing e-form MSC-1.

This scheme shall not apply in the following cases are below

1. Final notice for striking off the name of the company under section 248 of the companies act, 2013 already issued by the ROCs;
2. The company made an application for striking off the name of the company from ROCs;
3. Companies amalgamated under the scheme of compromise & arrangement;
4. The company applied for dormant status under section 455 of the companies act, 2013 before the scheme introduction
5. Vanishing Companies;

A company would be deemed to be a vanishing company if it is found to have:

1. a) Failed to file returns with Registrar of Companies (ROC) for a period of two years;
2. b) *Failed to file returns with Stock Exchange (SE) for a period of two years (if it continues to be a listed company);
3. c) It is not maintaining its registered office of the company at the address notified with the Registrar of Companies/ Stock Exchange; and
4. d) None of its Directors are traceable.

The Scheme has been introduced by means of following Circulars of MCA:

• General Circular No. 11/2020 dated 24^thMarch, 2020;

•  General Circular No. 12/2020 dated 30^thMarch, 2020.

No, it comes under the Exception list provided by Ministry. Thus, won’t be able to obtain benefits of the scheme.

In the cases, wherein the penalties are imposed under the Act and the company has not further appealed to higher authorities and such period of an appeal lies between 1st March 2020 to 31st May 2020, a period of additional 120 days be allowed for the filing of an appeal from the last date as may be specified under the order. Further, such companies can also avail to withdraw the appeal, if any filed and avail benefits of the scheme.

A defaulting inactive company can apply for either of the following:

1. To become a dormant company by filing e-Form MSC-1; or
2. To get its name struck off by filing e-form STK -2Had it not been for the CFSS, an inactive company cannot for itself file for strike off