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Companies fresh start scheme 2020 and LLP Settlement scheme 2020 with CA Shalini Somani

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Published on 16 May 2020 / In Company law

FAQs on
Companies Fresh Start Scheme, 2020
1. What was the need for introduction of CFSS, 2020?
2. What is the benefit of the Scheme?
3. What kind of default is not covered by the CFSS?
4. What is the currency of this Scheme? What does the currency of the Scheme means?
5. Is this Scheme applicable to companies only or even LLPs? What is the tenure of the LLP
Settlement Scheme 2020?
6. What is the time for filing E Form CFSS 2020? Is the eForm CFSS 2020 also required to be
filed within the currency of the Scheme?
7. Private companies have been provided several exemptions under law. Will the CFSS have any
affect on the same?
8. What will be the fees paid to file all e forms during the currency of the Scheme?
9. Is there any fees for filing e Form CFSS 2020?
10. Which companies can avail the benefit of the Scheme?
11. Can the benefit be taken by an Active non compliant company i.e company which has not
filed INC 22 A?
12. Can the benefit be availed by the directors for updating / filing the KYC documents?
13. Can the benefit of the Scheme be taken by a company undergoing CIRP / Liquidation?
14. Can the benefit of the Scheme be taken by a company which has been struck off and an
appeal is pending before the NCLT?
15. Can foreign companies take benefit of CFSS for doing belated filing?
16. What is the benefit provided in the Scheme for a defaulting inactive company?
17. Is the Scheme available to Nidhi companies?
18. Which companies / eForms / cases cannot avail the benefit of the Scheme?

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