FAQs on Companies Fresh Start Scheme, 2020 and LLP Modified Settlement Scheme, 2020

Vide its circular dated March 30, 2020, the Ministry of Corporate Affairs ("MCA") had introduced the Companies Fresh Start Scheme, 2020 ("CFS Scheme") and amended the LLP Settlement Scheme, 2020 ("LLP Modified Scheme") to allow defaulting companies and limited liability partnerships an opportunity to file belated documents, returns etc. without charging of additional fees with respect to the delay in filing and grant immunity from prosecution with respect to such delay. We had, in an earlier update, highlighted the key provisions of the CFS Scheme and the LLP Modified Scheme (available at https://www.mondaq.com/india/shareholders/918732/relaxation-schemes-for-companies-and-limited-liability-partnerships and https://lexcounsel.in/wp-content/uploads/2020/04/Newsletter-April-012020-.pdf).