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In view of the ongoing COVID-19 crisis, the Indian Ministry of Corporate Affairs (MCA) provided additional relaxations to companies and LLPs.

The regulatory answer is thorough scrutiny and identification of the red flags and potentials risks through the process of Due diligence. “Due diligence” the term elucidated by Hon’ble Supreme Court of India, in the matter of Chander Kanta Bansal V. Rajinder Singh Anand (2008) 5 SCC 117, as per Black’s law Dictionary (18th Edn)- “Due Diligence” means the diligence reasonably expected from, and ordinarily exercised by, a person who seeks to satisfy a legal requirement or to discharge an obligation.’