Relaxation in Due Dates under Companies Act, 2013 and LLP Act, 2008

GENERAL CIRCULAR – 03 MAY 2021

Ministry of Corporate Affairs (MCA) has issued General Circulars on May 03, 2021 to provide relaxation due to resurgence of COVID-19 pandemic, under Companies Act, 2013 and LLP Act, 2008.

Relaxation on levy of additional fees on filing of certain forms under the Companies Act, 2013 and LLP Act 2008

No additional fees shall be levied up to 31^st July 2021 for the delayed filing of the forms (Other than charge related forms i.e. CHG-1 Form, CHG-4 Form and CHG-9 Form) which were/would be due for filing during 1^st April 2021 to 31^st May 2021.

Only normal fees shall be payable, for such delayed filings up to 31^st July 2021.

Gap between two Board Meetings under section 173 of the Companies Act, 2013

MCA extended the gap between two Board Meetings by a period of 60 days for first two quarters of the FY 2021-22.  

Accordingly, the gap between two consecutive meeting of the Board may extend to 180 days during the 1^st Quarter (April to June 2021) and 2^nd Quarter (July to September 2021), instead of 120 days as required in the Companies Act, 2013.

Relaxation of time for filings forms related to creation or Modification of the Charges under the Companies Act, 2013

Applicability: Circular shall be applicable in respect of filing of Form No. CHG- 1 and Form No. CHG- 9 by a Company or a Charge Holder, where the date of creation/modification of the charge:

1.  is before 1^st April 2021, but the timeline for filing such form had not been expired under section 77 (i.e. 120 days) of the act as on 1^st April 2021, or
2. falls on any date between 1^st April 2021 to 31^st May 2021 (both inclusive).

Relaxation of time and Fees:

Case (1): i.e. if date of creation/modification of charge is before 1^st April 2021

Relaxation of time:

• The period beginning from 1^st April 2021 and ending on 31^st May 2021 shall not be reckoned for the purpose of filing of form u/s 77 & 78 of the act.
• In case form not filed till 31^st May 2021 the first day after March 31, 2021 shall be 01^st June 2021.

Applicable Fees:

• If the form if filed between 1^st April 2021 to 31^st May 2021 then fees applicable on such form as on 31^st March 2021, required to be pay till 31^st May 2021.
• If the form is not filed till 31^st May 2021, then 01^st June 2021, shall be considered as next day of 31^st March 2021, for the purpose of fees payable on Charge Form.

Case (2): If date of creation or modification of charge is between 1^st April 2021 to 31^st May 2021

Relaxation of time:

• The period beginning from 1^st April 2021 and ending on 31^st May 2021 shall not be reckoned for the purpose of filing of form u/s 77 & 78 of the act.
• In case form not filed till 31^st May 2021 then 01^st June 2021 shall be first day to count 120 days u/s 77 of the act.

Applicable Fees:

• If the form if filed before 31^st May 2021 then normal fees shall be payable.
• If the form is not filed till 31^st May 2021, the first day after the date of creation/modification of charge shall be reckoned as 01^st June 2021 and the no. of days till the date of filing of the form shall be counted accordingly for the purpose of the payment of the fees.

Relaxation shall not apply, in following cases:

1. The forms i.e. CHG-1 and CHG-9 had already been filed before the date of the issue.
2. The Timeline for filing the form had already expired u/s 77 or 78 of the act prior to 1^st April 2021.
3. The Timeline for filing the form expires at a future date.
4. Filing of Form CHG-4.

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