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Federation of All India Vyapar Mandal seeks extension in two popular corporate schemes
1/21/2021 8:53:28 PM
early times report
JAMMU, Jan 21: Nations apex Trade body, Federation of All India Vyapar Mandal has sought extension in two popular schemes namely CFSS 2020 and LLP Settlement 2020 launched by Ministry of Corporate Affairs (MCA).
In a letter sent to Union Finance and Corporate Affairs Minister Nirmala Sitaraman, with copies sent to prime Minister Narendra Modi and Union Commerce and Industry Minister Piyush Goyal, it is requested for extension of Companies Fresh Start Scheme 2020 including LLP Settlement 2020 till 31st March in order to seek relief and benefit of the scheme as well as their up to date filing once for all.
Sanjay Bansal, president,J&K(Federation of All India Vyapar Mandal) highlighting the various grievances confronted by the corporate sector, business establishments and the employees at large said the pandemic has hit corporate and other entities badly during the lockdown and after its relaxations, the annual compliance for corporates and LLP has left behind the wheel of businesses and the economy of the nation, especially in view of the hardships and critical circumstances to recover from the stressful situation as well as unemployment.
Lauding the initiatives of Prime Minister Narendra Modi for doing ease of business and enriching the vision of the former, the letter says the MCA has extended due dates for various compliances from time to time, but the storms of the pathogen are still hitting the operational part of the businesses due to the non-availability of the staff who have been constrained to migrate to their distant native places during the lockdown with a limited number of employees returning.
The same situation exists regarding the CAs and the CSs states the letter sent to the union finance Minister Nirmala Sitaraman.
In addition, the letter also mentioned that Corporate Compliance professionals like CAs and CSs face numerous difficulties during the process of complying the different sections of statue which are resolved usually by meeting officers but due to lockdown they were bereft of this option.
The letter finally requested FM Nirmala Sitaraman to extend the dates of Companies Fresh Start Scheme 2020 and LLP Settlement Scheme to 31st March 2020.
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