Lately as we know various due dates have been extended by the government because of the lockdown throughout the nation and because of the pandemic going on.
However there was no extension of due dates as regards the corporate affairs/ Companies Act i.e. holding of AGM, producing the books of accounts for the financial year in that AGM or due dates for any such other duties were not extended by the ministry of corporate affairs during this lockdown.
People are stressed as to how they would produce or complete the books of accounts during this lockdown and comply with the due dates of the ministry of corporate affairs.
However, now the ICSI I.e. the institute of company secretary of India have made an appeal to the ministry of corporate affairs for the extension of such due dates so that same can be complied as currently also, many states or cities are facing the lockdown partially/ fully and people are not able to complete their books of accounts and hence cannot comply with the various due dates of the ministry of corporate affairs.
There are mainly two request in this representation:
1. Request for extension for holding annual general meeting:
The Ministry of Corporate Affairs (‘MCA’) vide Circular no. 18/2020 dated April 21,2020, has granted extension of time for holding Annual General Meeting (‘AGM’) till September 30,2020 (instead of June 30. 2020) to those companies whose Financial Year ended on December 31, 2019.
Also Income tax has extended its due dates for Tax audit. In the same line they have requested to provide extension of time for holding AGM for the year ended March 31, 2020 till December 31, 2020.
2. REQUEST FOR EXTENSION OF VALIDITY OF LLP SETTLEMENT SCHEME, 2020, COMPANIES FRESH START SCHEME, 2O2O AND SCHEME FOR RELAXATION OF TIME FOR FILING FORMS RELATED TO CREATION OR MODIFICATION OF CHARGES:
Similarly they have requested for extension of this scheme till 31.12.2020.