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Corporate Laws & Corporate Governance Committee
The Institute of Chartered Accountants of India
19th June, 2020
ANNOUNCEMENT

Sub: Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013

The Ministry of Corporate Affairs in order to help and support Companies and charge holders is taking necessary measures to address the concerns by giving several relaxations and providing special measures to reduce their compliance burden.

Under the Companies Fresh Start Scheme, 2020 as laid out in the General Circular No. 12 / 2020, dated 30.03.2020, the benefit of waiver of additional fees was not extended to the charge related documents.

In this regard the Ministry of Corporate Affairs has introduced a new scheme called “Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013”.

The Purpose of the scheme is to condone the delay in filing certain forms related to creation/ modification of charges particularly during the pandemic period.

This has come into effect from 17th June, 2020.

In this regard, the Ministry of Corporate Affairs, Government of India (the MCA), has issued the Circular on the MCA’s website and the link for the same is as below:
http://www.mca.gov.in/Ministry/pdf/Circular23_17062020.pdf

The ICAI has prepared and issued FAQs on this Scheme for the benefit of its members and other stakeholder. The FAQs are uploaded on ICAI website and the link for the same is as below:
https://www.icai.org/resource/59986clcgc48878.pdf


Chairman and Vice Chairman
Corporate Laws & Corporate Governance Committee

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