MCA EXTENDED PERIOD OF RESERVATION OF NAME & RESUBMISSION OF FORMS DURING THE COVID 19 PANDEMIC or LOCKDOWN.
The MCA on 22nd April 2020 has extended the Validity of approved names for Incorporation of New Companies or LLP or change of name of existing companies or LLP.
MCA has also extended the Period of Resubmission of forms for companies and llp.
Related to Validity of Name of Companies:
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Name reserved Through SPICE+
Matter – Validity of Name extended for New Companies Incorporation.
Normally the name is reserved for 20 days for new company incorporation. Means after name reservation through SPICE+ Part A, SPICe+ Part B needs to be filed within 20 days of name reservation.
Relaxation: MCA has issued relaxation for Names expiring any day between 15th March 2020 to 3rd May, the validity of those names would be extended by 20 days beyond 3rd May 2020.
-
Name reserved For Change of Name Through RUN Form:
Matter: Validity of Name extended for Change of Name of Existing Companies
Normally the name reservation for Change of name of any existing company is reserved for 60 days. Means Form INC-24 (form for change of name of existing company) needs to be filed within 60 days of name reservation/approval.
Relaxation: MCA has issued relaxation and extended the validity of the Names expiring any day between 15th March 2020 to 3rd May the validity would be extended by 20 days beyond 3rd May 2020.
Related to Resubmission of Forms of Companies Marked By MCA under Resubmission:
Matter: When a form is filed with MCA and the Form is not complete in all respect and MCA asks for Resubmission of form after due compliance by the stakeholder.
Normally The Forms which are marked for resubmission by the MCA is to be resubmitted within 15 days of the date on which the form is marked for resubmission and thereafter if the form is not resubmitted the eForm is treated as invalid and is not be taken on record or transaction is to be be cancelled.
Relaxation: MCA has issued relaxation and extended the validity of Resubmission of Forms. The 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 which are already marked under NTBR, extension would be provided on case to case basis.
- And hence the Forms will not get marked to (Not to be taken on Record)’NTBR’ due to non-resubmission during this extended period as detailed above.
Related to Validity of Name of LLP :
-
Name reserved For Incorporation of New LLP or Change of Name Through RUN LLP:
Matter: Validity of Name extended for Incorporation or change of Name of Existing LLP
Normally the name reservation for Incorporation of new LLP or Change of name of any existing LLP is reserved for 90 days. Means Form FiLLiP for incorporation of LLP or Form 5 (form for change of name of existing LLP) needs to be filed within 90 days of name reservation/approval.
Relaxation: MCA has issued relaxation and extended the validity of the Names expiring any day between 15th March 2020 to 3rd May the validity would be extended by 20 days beyond 3rd May 2020.
Related to Resubmission of Forms of LLP Marked By MCA under Resubmission:
Matter: When a form is filed with MCA and the Form is not complete in all respect and MCA asks for Resubmission of form after due compliance by the stakeholder.
Normally The Forms which are marked for resubmission by the MCA is to be resubmitted within 30 days of the date on which the form is marked for resubmission and thereafter if the form is not resubmitted the eForm is treated as invalid and is not be taken on record or transaction is to be be cancelled.
Relaxation: MCA has issued relaxation and extended the validity of Resubmission of Forms of LLP. The SRNs where last date of Resubmission (RSUB) falls between 15th March 2020 to 3rd May 2020, additional 15 days would be allowed from 3 rd May 2020 for resubmission.
- However, for SRNs already marked under NTBR, extension would be provided on case to case basis.
- And hence the Forms will not get marked to (Not to be taken on Record)’NTBR’ due to non resubmission during this extended period as detailed above.
to download the MCA Notice
pls click on http://www.mca.gov.in/Ministry/pdf/Extension_22042020.pdf
DISCLAIMER: The entire contents have been developed on the basis of relevant information and are purely the views of the authors. Though the authors have made utmost efforts to provide authentic information however, the authors expressly disclaim all or any liability to any person who has read this document, or otherwise, in respect of anything, and of consequences of anything done, or omitted to be done by any such person in reliance upon the contents of this document. Reader should seek appropriate counsel for their own situation. I shall not be held liable for any of the consequences directly or indirectly.
Any other suggestions /opinions are welcomed.
Regards
Author: CS Megha Sharan (Company Secretary in Practice)
Contact No 9650082009
Email: ezzusindia@gmail.com
Ezzus India Team
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