Stakeholders should take advantage of Companies Fresh Start Scheme: Bukhari

The officiating ROC, J&K and Ladakh, Haamid Bukhari has asked all the stakeholders in J&K and Ladakh to take the advantage of Companies Fresh Start scheme and LLP Settlement schemes started by Ministry of Corporate Affairs earlier since March 2020.

According to a statement, the benefits under the scheme were valid till September 2020.

However, keeping in view the hardships faced by Companies and Business sector due to prolonged COVID, the Ministry of Corporate Affairs has now extended the scheme till 31 December 2020.

“The idea behind is to provide a clean slate to all the law-abiding companies, giving them extended time and a certain level of financial relief with regard to compliances considering the current situation. Such schemes are first of its kind opportunities to make good any filing related defaults and make a fresh start as a fully complaint entity.”

During the interaction with stakeholders, ROC highlighted the steps taken by ministry in the past couple of years in reforming ease of doing business processes and highlighted that such schemes incentives compliances and reduces burden during health crisis like COVID.

He asked the stakeholders that details of both the schemes may be perused from the circulars issued by Ministry of Corporate Affairs, Government of India.