Discover the benefits of the MCA V3 extension for filing company e-forms and physical filing. Simplify the process and save time with this innovative solution.
Introduction:
The Ministry of Corporate Affairs (MCA), Government of India, has issued two important circulars, providing significant relief and flexibility to companies in terms of filing requirements. These circulars address the challenges faced during the transition from the V2 to V3 portal and offer extended timelines for specific filings.
Extension for Filing of 45 Company E-forms, PAS-03 & SPICE+ PART A:
In continuation of previous circulars, the MCA has decided to allow additional time until 31st March, 2023, for the filing of 45 e-forms, PAS-03, and SPICE+ PART A.
This extension comes in light of the changes in the filing process in V3, including the registration of users and the stabilization of the new e-forms launched on 23rd January, 2023. Notably, this extension applies to forms due for filing between 7th January, 2023, and 28th February, 2023.
Additionally, e-form PAS-3, which was closed for filing in V2 on 20th January, 2023, and launched in V3 on 23rd January, 2023, can also be filed without incurring additional fees until 31st March, 2023.
Furthermore, the reservation period for names has been extended by an additional 20 days, and the resubmission period between 23rd January 2023, and 28th February 2023, has been extended by 15 days.
Filing of Various Forms in Physical Mode:
Recognizing the challenges faced by companies during the transition from V2 to V3 portal, the MCA has introduced an option for companies to file forms GNL-2, MGT-14, PAS-3, SH-8, SH-9, and SH-11 in physical mode.
These forms pertain to matters such as prospectus-related documents, private placement, allotment of shares, buyback of own shares or other securities, declaration of solvency, and return in respect of buy-back of securities.
Companies intending to file these forms between 22nd February, 2023, and 31st March, 2023, may do so in physical mode, provided the forms are duly signed by the concerned individuals as per the relevant form requirements.
Additionally, a copy of the form in electronic media should be submitted along with the physical filing. Companies are required to provide an undertaking that they will also file the relevant form electronically on the MCA-21 portal, along with the applicable fees. Importantly, as clarified in General Circular No. 04/2023 dated 21st February, 2023, no additional fees will be levied for these filings.
The Takeaway
These circulars reflect the MCA’s responsiveness to the challenges faced by companies during the transition to the V3 portal. The extended timelines and introduction of physical mode filing options provide much-needed relief to companies, allowing them to meet their compliance requirements in a more flexible manner.
It is essential to stay informed about further updates and guidance from the MCA to navigate these regulatory changes effectively. Companies are encouraged to take advantage of service providers like Vakilsearch to ensure timely and accurate filings.
