Corporate Affairs Ministry Launches Compliance Relief Scheme for Companies

The corporate affairs ministry is launching a three-month compliance facilitation scheme, allowing companies to complete pending filings with reduced fees and delay condonation. The initiative targets over 20 lakh active companies and will be operational from April 15 to July 15. However, certain companies will not be eligible for this scheme.

The corporate affairs ministry announced a new initiative aimed at easing the compliance burden on companies. This three-month facilitation scheme will permit businesses to submit pending filings with significantly reduced fees, condoning any delays, with operations set to commence from April 15 to July 15.

The 'Companies Compliance Facilitation Scheme, 2026' is a one-time opportunity for over 20 lakh active firms across the country. By participating, companies can regularize their pending filings at a fraction of the original cost and evade financial penalties resulting from tardiness.

Despite its broad scope, the scheme is not applicable to companies facing strike-off actions. The ministry's decision emerged in response to numerous stakeholder appeals, including MSMEs and private enterprises, emphasizing the need for regulatory leniency amid economic formalization.

(With inputs from agencies.)