Govt. extends Condonation of Delay Scheme, 2018 upto 30th April

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The Ministry of Corporate Affairs has extended the Condonation of Delay Scheme ( CODS ) 2018 upto 30th April, 2018.
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The MCA has introduced this scheme giving an opportunity for the non-compliant, defaulting companies to rectify the default.
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A few months ago, MCA, with an intent to crackdown on shell companies, had disqualified more than two lakh directors of shell companies within a span of 15 days, for not filing their financial statements or annual returns for two straight years, violating provisions of the Companies Act, 2013.
Such companies which have been stuckoff /whose names have been removed from the register of companies under section 248(5) of the Act can take the advantage of the Scheme.
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On adopting the above scheme, the concerned Registar will withdraw all the pending the prosecution(s) for all documents filed under the scheme. “However, this scheme is without prejudice to action under section 167(2) of the Act or civil and criminal liabilities, if any, of such disqualified directors during the period they remained disqualified.”
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The Ministry of Corporate Affairs has recently notified E-Form for filing under Condonation of Delay Scheme, 2018.
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Key Features of eForm CODS, 2018:
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Following are the key features of the e-Form:

• Disclosure about whether any appeal was filed against any notice issued or complaint filed before competent Court for violating provisions of Act,
• Disclosure about prosecution pending before Court against the Company and its officers in respect of belated documents,
• Disclosure & details about any director who is declared as proclaimed offender or facing criminal case(s) for economic offences,
• Declaration that Company has withdrawn appeal(s)/writ(s) pending before Court,
• No certification for eForm e-CODS.

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