Due to Covid-19 outbreak, looking at present scenario and lockdown being imposed under the guidance of Central / State Government, most of the regulators have come up to provide the relaxation in due date, with respect to the compliance requirement during this unavoidable situation. The Ministry of Corporate Affairs (MCA) has rolled out various Circulars, notifications and explanations in order to provide certain relaxation to the various Companies and Limited Liability Partnership (LLPs) from compliance of various provisions under Companies Act.
On 22nd April, 2020 vide explanation the Ministry of Corporate Affairs (MCA) has relaxed the rules of Re-submission and extended the time period for name reserved
| Issue Description | Period/Days of Extension |
| Names reserved for 20 days for new company incorporation. SPICe+ Part B needs to be filed within 20 days of name reservation. | Names expiring any day between 15th March 2020 to 3rd May would be extended by 20 days beyond 3rd May 2020. |
| Names reserved for 60 days for change of name of company. INC-24 needs to be filed within 60 days of name reservation. | Names expiring any day between 15th March 2020 to 3rd May would be extended by 20 days beyond 3rd May 2020 |
| Extension of Resubmission (RSUB) validity for companies. | SRNs where last date of Resubmission (RSUB) falls between 15th March 2020 to 3rd May 2020, additional 15 days beyond 3rd May 2020 would be allowed.
However, for SRNs already marked under Not to be taken on Record (NTBR), extension would be provided on case to case basis.
Note: Forms will not get marked to NTBR due to non resubmission during this extended period as detailed above |
| Names reserved for 90 days for new LLP incorporation/change of name. FiLLiP/Form 5 needs to be filed within 90 days of name reservation. | Names expiring any day between 15th March 2020 to 3rd May would be extended by 20 days beyond 3rd May 2020 |
| Resubmission (RSUB) validity extension for LLPs. | SRNs where last date of resubmission (RSUB) falls between 15th March 2020 to 3rd May 2020, additional 15 days would be allowed from 3rd May 2020 for resubmission.
However, for SRNs already marked under Not to be taken on Record (NTBR), extension would be provided on case to case basis.
Note: Forms will not get marked to NTBR due to non resubmission during this extended period as detailed above. |
Practicing Company Secretary, M.Com and Commerce Graduate and founder at Shaffy Mehta & Co. She is having an overall 4 years experience of Company Law and other Corporate Laws.