In furtherance of its previous corporate governance reliefs, the Ministry of Corporate Affairs (“MCA”) has introduced the Companies Fresh Start Scheme, 2020 (“CFS Scheme”) and amended the LLP Settlement Scheme, 2020 vide its circular dated March 30, 2020 (“LLP Modified Scheme”) to allow defaulting companies and limited liability partnerships (“LLPs”) an opportunity to file belated documents, returns etc. without charging of additional fees with respect to the delay in filing and grant immunity from prosecution with respect to such delay.
The Ministry of Corporate Affairs (“MCA”) vide its circular dated 30th March 2020 has issued “Companies Fresh Start Scheme, 2020” (“CFSS 2020”) and revised the “LLP Settlement Scheme, 2020” (“LLP Scheme 2020”) to promote defaulting companies/LLPs to make a fresh start on a clean slate and waive the additional fees for delayed filings by the companies/LLPs with the Registrar of Companies (“ROC”) during the currency of the Schemes i.e. from 1st April 2020 to 30th September 2020. Both the schemes incentivize compliance and reduce compliance burden during the unprecedented public health situation caused by the outbreak of COVID-19.
A Lei nº 13.979/2020, norma geral que traz medidas para o enfrentamento do coronavírus, foi alterada pela Medida Provisória nº 928/2020, publicada no Diário Oficial da União no dia 23.3.2020, em edição extra. Os principais acréscimos promovidos pela MP à Lei de Acesso à Informação (Lei nº 12.527/2011) incluem: Read more…
Coronakrisen og de voldsomme konsekvenser, den har for samfundet og erhvervslivet, har sat en række nye punkter på dagsordenen i bestyrelseslokalerne. Her vil vi kort gennemgå dels de formelle regler om bestyrelsens opgaver og ansvar (som findes i Selskabsloven §§ 115 og 361), dels de ledelsesmæssige udfordringer og dilemmaer, coronakrisen fører med sig. Read more…
PETERKA & PARTNERS Slovakia has prepared a brief summary of economic measures aiming to support entrepreneurs and prevent massive layoffs announced by Slovak Government yesterday.
To view the full text, please click HERE.
Coronavirus and Cash Shortfalls – What Can You Do to Mitigate the Effects of Coronavirus on Your Organization’s Financial Health?
The coronavirus is having a direct effect – financial and otherwise – on nearly every business. While the long-term effects of the global pandemic will be significant and far-reaching, the short-term financial consequences to businesses, due to expected cash shortfalls, could make the difference in a company’s survival. Here are four areas that businesses should review that could impact – and potentially improve – their financial situation:
TGS Baltic offers up-to-date information on the availability of Covid-19 crisis mitigation measures and the newest regulatory changes.
In accordance with Cabinet Order No. 119 of 24 March 2020, which amends Cabinet Order No. 103 On the Declaration of Emergency Situation of 12 March 2020, new restrictions take place:
Imagine these scenarios:
- Your company cannot perform a contract because of the COVID-19 pandemic.
- A vendor informs you that she cannot provide your company with necessary goods because of supply chain issues caused by a governmental emergency declaration.
- A subcontractor cannot perform because its employees are self-quarantining.
These are not hypotheticals. Scenarios like these are playing out around the country. The real-world impact of the COVID-19 pandemic is colliding with contractual requirements, and there is new attention to the legal doctrines of “impossibility,” “frustration of purpose,” “impracticability, and “force majeure.”
The Union Finance & Corporate Affairs Minister, Government of India, Ms. Niramla Sitharaman, in her interactions with the press yesterday, i.e., on March 24, 2020, has announced multiple relaxations to statutory and regulatory compliances under various legislations viz., the Companies Act, 2013 (“CA2013”), Limited Liability Partnership Act, 2008 (“LLP Act”), Insolvency and Bankruptcy Code, 2016 (“IBC”), Income Tax Act, 1961, the Goods and Services Tax legislations, Customs Act, 1962 etc. The complete press release vis-à-vis all measures announced can be accessed at http://pib.nic.in/newsite/PrintRelease.aspx?relid=200639.
Even Skypen of Facetimen in plaats van vergaderen. De laatste weken doen we niet anders. Maar hoe zit het eigenlijk met de rechtsgeldigheid van besluiten die in zo’n digitale vergadering worden genomen? Zijn die net zo geldig als besluiten tijdens een ‘echte’ vergadering? Read more…