National Advisory Board calls for integrated management for climate-resilient agriculture (See 'Corp Brief') Arbitration - Where arbitration proceedings are meant for resolving civil & contractual disputes, they cannot be invoked to resolve penal offences under the Negotiable Instruments Act: HC (See 'Legal Desk') Centre of Excellence to advance Indigenous Telecom R&D (See 'Corp Brief') 102 Route Km Wadi-Raichur Section to be upgraded with 2×25 kV Electric Traction System (See 'Corp Brief') A & C Act - Private contractual confidentiality clause cannot override statutory or legal obligation to disclose documents directed by court of law: HC (See 'Legal Desk') CERT-In conducts 10 Cyber Security Exercises on AI-Driven Cyber Threats (See 'Corp Brief') Sonowal urges 'Faster Execution', calls for 'Speed & Scale' to meet 2030 maritime targets (See 'Corp Brief') NDPS - While mere non-compliance with procedural mandates of Sec 52A of NDPS Act is not automatically fatal to prosecution, it necessitates heightened scrutiny test of remaining evidence: HC (See 'Legal Desk') India Mobile Congress 2026 - scaling without boundaries forms goal (See 'Corp Brief') MoRD and PCI India ink MoU to bolster women-led enterprises through public procurement (See 'Corp Brief') 5.56 lakh recruitments done since 2014, Including 50,485 in Southern Railway: Vaishnaw (See 'Corp Brief') Trade Mark - Interim injunction allowed where plaintiff successfully satisfies triple test by a strong prima facie case, imbalance of convenience & irreparable injury: HC (See 'Legal Desk') Corporate Mitra Scheme Awareness Webinar organized by IICA Shillong (See 'Corp Brief') Assam Exports First International Consignment of Purabi Ice Cream to Bhutan (See 'Corp Brief') IPR - If plaintiff demonstrates prior adoption, statutory registrations, commercial reputation, and prima facie deceptive similarity between rival marks used for identical goods through common trade channels, ex parte injunction may be granted: HC (See 'Legal Desk') Common Service Centres increase from 83,950 to 5,01,731 (See 'Corp Brief') RM calls for tech-driven preventive healthcare to enhance combat readiness (See 'Corp Brief') A&C - Once claim is consciously and formally withdrawn by party, arbitrator completely loses jurisdiction to adjudicate upon it: HC (See 'Legal Desk') Railways approves Rs 163 Crore Electric Traction Upgradation in South Central Railway (See 'Corp Brief') Govt promotes indigenous Potash Production and Alternative Nutrient Sources (See 'Corp Brief') IBC - Personal guarantee expressly drafted as a continuing and irrevocable guarantee does not stand discharged merely because the guarantor resigns as director of the corporate debtor: NCLAT (See 'Legal Desk') CCI approves amalgamation of Go Digit Infoworks with Go Digit General Insurance (See 'Corp Brief') CCI okays acquisition of units of Oaktree capital group by Brookfield Asset Management (See 'Corp Brief') IBC - If IRP is allowed to perform only limited functions during period when CIRP is under substantial judicial restriction, IRP is not automatically entitled to full professional fees at minimum monthly rate: NCLAT (See 'Legal Desk') Amritsar becomes second spoke airport under India's International Aviation Hub Strategy (See 'Corp Brief') RRBs post Highest-Ever Net Profit of Rs. 10,177 Crore in FY 2025-26 (See 'Corp Brief') PMLA - Retention or continued freezing of a person's property cannot be permitted solely or primarily on ground that investigation is ongoing: SAFEMA TRIBUNAL (See 'Legal Desk') NHAI Successfully defends Major Arbitration Case to Safeguard Public Funds (See 'Corp Brief') Companies Act - Coal beneficiation cannot per se be excluded from ambit of manufacturing process to justify quashing of criminal complaint at preliminary stage: HC (See 'Legal Desk') Digital India BHASHINI conducts Multilingual AI Workshop for Haryana Vidhan Sabha (See 'Corp Brief') MISC - RBI, possessing superior expertise in financial administration over cooperative authorities, has independent power to supersede board of a cooperative bank under the Banking Regulation Act - Principles of natural justice do not apply to Section 36AAA of Banking Regulation Act 1949: HC (See 'Legal Desk') Youth Unrest & CJP Agitation: Key Learnings (See CORP EINSICHT) IPR - Patent offices cannot rely on mere hypotheses or hindsight to dismiss technical advancement: HC (See 'Legal Desk') 'Corporate Mitra Scheme' Awareness Webinar Successfully Organized by IICA Shillong (See 'Corp Brief') Rajya Sabha organises Orientation Programme for newly elected Members (See 'Corp Brief') IBC - Service of insolvency petition on corporate debtor's registered email address available in MCA records constitutes valid service, if accompanied by attempts at service at registered office and publication in accordance with NCLT Rules: NCLAT (See 'Legal Desk') Coast Guard rescues 170 Persons in Flood Relief Operations across Daman, Dadra & Nagar Haveli (See 'Corp Brief') IBC - Prior or parallel proceedings under SARFAESI and before DRT do not bar Section 95 insolvency application: NCLT (See 'Legal Desk') Public Advisory: Beware of Fraudulent Air Suvidha 2.0 Websites (See 'Corp Brief') IBC - Liquidation application allowed where corporate debtor is not a going concern, has prima facie nil asset value & where requirements of Section 33 of IBC 2016 are met: NCLT (See 'Legal Desk')

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Relaxations provided to Companies to combat COVID-19

Published: Sep 15, 2020

By TIOLCORPLAWS News Service

NEW DELHI, SEPT 15, 2020: The Ministry of Corporate Affairs has taken steps to provide several incentives/ relaxation/concession during Lockdown period so as to reduce the burden of companies/LLPs during COVID-19. This was stated by Mr Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in response to a written question in the Lok Sabha today.

Enumerating the steps, Mr Thakur stated the following:

  • Introducing Companies Fresh Start Scheme 2020 (CFSS) vide General Circular 12/2020 dated 30.03.2020 to enable companies to file documents without additional fees, grating immunity from prosecutions proceeding, etc.
  • Introducing LLP Settlement Scheme, 2020 providing similar benefits as CFSS 2020 for the benefits of LLPs.
  • Introducing Special Provisions for enabling conduct of Board and General Meetings through Video conferences by Corporates vide General Circular No 14/2020.
  • Introducing Special provisions for filings under section 124 &125 r/w IEPFA (Accounting, Audit, Transfer and Refund) Rules 2016.
  • Introducing Special Relaxation in holding of General Meeting by Companies whose Financial Year ended on 31st December 2019 vide General Circular dated 21-04-2020 and holding it through Video conferences vide General Circular No. 20/2020 and 28/2020.
  • Allowing corporates for spending CSR funds for various activities which includes Healthcare, sanitation and disaster management.

A general extension of 3 months to hold Annual General Meeting for the Financial year 2019-2020 beyond 30.09.2020 has been granted to all about 12 lakhs companies by issue of order by each ROC on 08.09.2020 without any requirement to file any application of the form and without payment of fee.

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