The scheme applies to companies that we're unable to file the Annual Return and Financial Statements to the Ministry of Corporate Affairs. Further, it also applies to companies that have not filed e-forms like MGT-14, Form DPT-3, Form 20A, and other related forms which need to file under the ROC.
The CFSS does not apply to the companies which are under strike off. Vanishing companies and companies that are amalgamated are also not a part of it. The companies which have applied for obtaining the status for Dormant are also excluded from the benefits under the CFSS 2020.
The company gets to benefit in form of a complete waiver on penalty or Additional Fees. Further, the company is also exempted from any kind of proceedings against it for imposing a penalty. Freedom from the launch of prosecution is also an additional benefit enjoyed by the company.
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