Companies Fresh Start Scheme, 2020 (CFSS) and LLP Settlement Scheme, 2020

The Ministry of Corporate Affairs on Monday, 30th of March, 2020 has come up with 2 new schemes for defaulting Companies as well as defaulting LLPs named Companies Fresh Start Scheme, 2020 and LLP Settlement Scheme, 2020 respectively, which grants the defaulting entities a One-time condonation of delay in filing the statutorily required documents with the Registrar without any additional fees.

These schemes have come into force from 1st April, 2020 which is extended up to 31st December, 2020 (originally till 30th Sept, 2020).

Now, let’s understand the key points that need to be taken care of in order to take advantage of the Scheme with the help of simple questions and answers.

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