Excelsior Correspondent
JAMMU, Jan 21: Federation of All India Vyapar Mandal (FAIVM) has sought extension in the dates of Companies Fresh Start Scheme (CFSS) 2020 and LLP Settlement 2020 launched by Ministry of Corporate Affairs (MCA) to March 31, 2021.
FAIVM leaders stated that they have sent a letter to Union Finance and Corporate Affairs Minister, Nirmala Sitharaman demanding extension of CFSS 2020 and LLP Settlement 2020 to seek relief and benefit of these schemes.
On this occasion Sanjay Bansal, President J&K FAIVM talked about various grievances confronted by the corporate sector, business establishments and the employees at large.
In a handout FAIVM President, Jayendra Tanna and National General Secretary, V.K Bansal said the pandemic has hit the corporate sector and other such entities badly during the lockdown and after its relaxations, the annual compliance for the sector and LLP has left behind the wheel of businesses and economy of the nation, especially in view of the hardships and critical circumstances to recover from the stressful situation as well as unemployment.
V.K Bansal further stated that CFSS 2020 and LLP Settlement Scheme 2020 were with path breaking opportunities like Vivaad Se Vishwas.
Enumerating point-wise some of the reasons or grievances in this regard, Bansal said several petitions for the revival of the companies under section 252 of the Companies Act are pending due to the non-operation of the NCLT nationally.
Requesting for granting of ample time for the CFSS scheme, the letter expresses genuine grievances regarding filing mentioning that for the financial year 2019, 20 the closure of the book accounts were delayed due to the lockdown in the months of September-October etc.
In addition, the letter also mentions that Corporate Compliance professionals like CAs and CSs also face numerous difficulties during the process of complying different sections of statue which are resolved usually by meeting officers but due to lockdown they were bereft of this option.
There were few other grievances also mentioned in addition to the above in the letter.
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