PERIOD/DAYS OF EXTENSION FOR NAMES RESERVED AND RESUBMISSION OF FORMS
Since
December 2019, the Covid-19 has grabbed headlines around the world as a successor to its cohorts in the coronavirus family, like the Middle East
Respiratory Syndrome (MERS) and Severe Acute Respiratory Syndrome (SARS).
In the wake of pandemonium caused by the spread of the COVID-19
virus, several representations have been received from stakeholders with regard
to difficulty in NAMES RESERVATION AND RESUBMISSION OF FORMS due to COVID-1 9
related social distancing norms and consequential restrictions linked thereto.
These representations have been examined and it is noted
that the Companies Act, 2013 (Act) allows a period/days of extension for names
reserved and resubmission of forms.
MCA
vide explanation dated 22.04.2020 states:
PERIOD/DAYS OF EXTENSION FOR NAMES RESERVED AND RESUBMISSION
OF FORMS
|
Sl.No.
|
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 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 NTBR, extension would be provided on case to
case basis. Note: Forms will not get marked to (Not to be taken on
Record)’NTBR’ due to nonresubmission 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.
|
|
|
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 3 rd May 2020 for
resubmission. However, for SRNs already marked under NTBR, extension would be
provided on case to case basis. Note: Forms will not get marked to (Not to be
taken on Record)’NTBR’ due to nonresubmission during this extended period as
detailed above.
|
DISCLAIMER: THE ARTICLE
IS BASED ON THE RELEVANT PROVISIONS AND AS PER THE INFORMATION EXISTING AT THE
TIME OF THE PREPARATION. IN NO EVENT I SHALL BE LIABLE FOR ANY DIRECT AND
INDIRECT RESULT FROM THIS ARTICLE. THIS IS ONLY A KNOWLEDGE SHARING INITIATIVE.
THE
AUTHOR – CS DEEPAK SETH (ASSOCIATE PARTNER AT HELPINGHANDS PROFESSIONALS LLP) AND CAN
BE REACHED AT CONTACTHHPRO@GMAIL.COM
OR 9910248911.
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