September 11, 2020
Summary of the Circular and Press Release issued by MCA on 10/09/2020 and 08/09/2020 respectively
1. MCA extends deadline for submission of Cost Audit Report by the auditor to the Company for the FY 2019-20 to 30/11/2020
The timeline for submission of cost audit report by the Cost Auditor to the Board of Directors has been extended to 30/11/2020 from 27/09/2020 and therefore, Form CRA-4 shall be filed within 30 days from the receipt of such cost audit report by the Company. Where, a company has availed extension for holding AGM, then Form CRA-4 shall be filed within such period as prescribed under proviso to Rule 6(6) of the Companies (Cost Records and Audit) Rules, 2014.
2. MCA extends timeline to hold AGMs for the FY 2019-20 to 31/12/2020
Due to CoVID-19 pandemic, MCA has directed ROCs to issue orders extending the timeline for holding AGM for FY 2019-20 to 31/12/2020 from 30/09/2020. It is also hereby clarified that no separate application for extension of time in Form GNL-1 need to be filed and the relief granted under the ROC order will be applicable to all pending and rejected applications.