In view of the COVID-19 Pandemic outbreak, Ministry of Corporate Affairs (“MCA”) has extended its wholehearted support in order to combat with the situation. Due to this lockdown, Companies are facing issues w.r.t. conducting Meetings and filing of Returns. In order to smoothly continue the Business Operations of the Corporates in India, MCA has taken various measures to provide relaxations to the Companies to help them remain compliant during such period.
Some of the important relaxations provided by MCA are as follows:
- No additional fees on late filings all the e-Forms to be filed by Companies and LLPs irrespective of its due date during a moratorium period from 1st April, 2020 to 30th September, 2020
- Minimum gap of 120 days between 2 Board Meetings is extended to 180 days
- Urgent Matters of General Meeting can be passed through Postal Ballot/e-voting except for some restricted items
- Extra-Ordinary General Meeting (which are unavoidable on or before 30th June, 2020), can be conducted through Video Conferencing(“VC”) or Other Audio-visual means in accordance with the procedure prescribed
Further, MCA has also issued Frequently Asked Questions(“FAQs”) on CSR Expenditure Eligibility for Contribution to COVID-19 related activities to encourage the Companies to provide their helping hands to the nation at this critical time.
Please click on the below link for the detailed note on all these relaxations: