An official statement from the ministry said the idea is to give relief to law abiding companies and Limited Liability Partnerships in the wake of the coronavirus pandemic New Delhi: The Ministry of Corporate Affairs on Monday allowed businesses to make a fresh beginning as fully compliant entities by making good any defaults related to statutory filings, irrespective of the duration of the default.
An official statement from the ministry said the idea is to give relief to law abiding companies and Limited Liability Partnerships (LLPs) in the wake of the coronavirus pandemic.
The opportunity for a fresh beginning is given to companies through the ‘companies fresh start scheme, 2020’ and to limited liability partnerships through revising an