Regarding ROC Statutory Compliances for Public Companies for the Month of September 2020

Sep, 09 2020
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This is to remind that the following ROC Statutory Compliances have to be complied to the extent as applicable:

Obtaining of ISIN and Filing of Form PAS-3

MCA vide its notification dated 10th September 2018 have mandated for every public limited company to dematerialized its physical shares. The same is effective from 02.10.2018.

So, the public companies shall have to make application to Depositary (through Depositary Participants) and shall secure ISIN (International Security Identification Number) for its shares and shall inform all its existing shareholders about such facility.

Every unlisted public company governed by this rule shall submit Form PAS-6 to the Registrar within sixty days from the conclusion of each half year duly certified by a company secretary in practice or chartered accountant in practice.

The time limit for filing Form PAS-6 without additional fees for the half-year ended on 30.09.2019 will be sixty days from the date of deployment of this form on the website of the Ministry i.e. wide circular no 16/2019 dated 28/11/2019.

Hence, as the e-form PAS-6 is deployed on MCA portal on 15th of July, 2020, therefore the due date is 13th of September, 2020 for both the half year ending on 30th September, 2019 and 31st March, 2020.

KYC OF DIRECTORS:

Every Director who has been allotted DIN on or before 31st March 2020 and whose DIN is in ‘Approved’ status would be mandatorily required to file form DIR-3 KYC / DIR-3 KYC WEB on or before 30th September 2020. Any failure in filing will result in Late Fees Penalty of Rs. 5,000/ And DIN Will Be Deactivated.

CFSS Scheme for pending Forms:

This scheme can be  availed by any defaulting company which had made a default in filling of any Document or any statement or any Return including statutory annual forms that need to be filed in accordance with provisions stated under Companies Act 1956 or Companies Act, 2013.

The Ministry of Corporate Affairs (MCA) vide its General Circular No. 12/2020 dated 30/03/2020, introduced the Companies Fresh Start Scheme, 2020 for one-time application of condonation of delay of filling the various documents, forms, returns, etc. with the MCA and granting of immunity from launching of any prosecution or proceedings for imposing penalty on account of delay associated with certain filings.

OBJECTIVE OF THE SCHEME

The Scheme is starting from 01st April, 2020 and end on 30th September, 2020 with a view to:

•             Granting of Immunity from launching of Prosecution;
•             Reduce non-compliance burden of various companies;
•             Waiver of additional fees levied for late filings of documents;
•             Waiver of Penalty on account of delay associated with filing

So, every company can file their pending forms without any late fee, penalty and prosecution till 30.09.2020 but all the forms filed under this scheme needs to be informed to MCA through filing of CFSS Form.
Thanking you,

Yours Faithfully
KILA & CO.

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