MCA issues measures for companies and LLPs to address the COVID-19 treat
Mar 26, 2020
The Ministry of Corporate Affairs (MCA) on March 24, 2020, issues measures for companies and Limited Liability Partnerships (LLPs) to address the COVID-19 treat.
To reduce the compliance burden and other risks, MCA issues the following measures:-
1. No additional fees shall be charged for late filing during a moratorium period from April 01 to September 30, 2020, in respect of any document, return, statement etc., required to be filed in the MCA-21 Registry, irrespective of its due date, which will not only reduce the compliance burden, including financial burden of companies/ LLPs at large. It also enable long-standing noncompliant companies/ LLPs to make a 'fresh start'.
2. The mandatory requirement of holding meetings of the Board of the companies has been extended by a period of 60 days till next two quarters that is till September 30. Accordingly, as a onetime relaxation the gap…
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