Companies Fresh Start Scheme ( CFSS) 2020 which was in effect from 01/04/2020 to 31/12/2020 given opportunity to companies to file RoC forms not filed in time and to avoid penal consequence of non compliance with respect to timely filing of RoC forms.
A newly incorporated company can commence its business or borrow money only after filing a declaration with the Registrar of Companies (ROC) to the effect that (i) every subscriber to the memorandum has paid the value of the shares agreed to be taken by him on the date of making of such declaration; and furnished/given to the Registrar of companies a verification about its registered office within a period of thirty days of its incorporation.
The Calcutta High Court recently ruled in ‘Naresh Kumar Poddar v. Union of India, through Secretary, Ministry of Corporate Affairs and another ‘ that the 2014 amendment to Section 164(2) and the 2018 amendment to proviso to Section 167(1)(a) of the Companies Act, 2013 are prospective in nature opining that their retrospective application would be anomalous, absurd, unreasonable and could potentially ruin the economy.
Main division of industrial activity of the company for company /LLP name reservation
The Government of India introduced SPICe+ in order to simplify the company incorporation / company registration process.. .