MCA 21 registry Moratorium being issued first April onward till 30th September 2020 there will be no additional fee for late filing
For board meeting 60 days time period has been given for next two quarters
Applicability of Companies auditor’s report order 2020 now extended to 2020-21 financial year
For the year 19-20 no validation will be taken if independent director have not been attended is single board meeting.
For newly incorporated companies, additional time of 6 more months will be given to file the declaration of commencement of business
Insolvency & Bankruptcy Code
On the Insolvency and Bankruptcy Code, the announcement has come that the default threshold limit of Rs 1 lakh has been steeply raised to Rs 1 crore. This has come as a major relief to MSMEs and it has also been announced if the situation doesn’t improve, section 7, 9, and 10 will be lifted for six months to provide cushion to the companies.
Aany debit card can be used to withdraw money from any bank’s ATM, without any extra charge. Maintaining the minimum amount balance is also not mandatory. The bank charges for digital trade transactions have also been reduced
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