Conodnation Of Delay Scheme 2018- Way Out– Removal Of Disqualification Of Directors
As MCA issued the list of approx 309, 614 Director who has been disqualified under section 164(2) and whose DIN has been blocked by the MCA. Due to this action many representations made from industry, defaulting companies and their directors seeking an opportunity for the defaulting companies to become compliant and normalize operations.
With a view to give them opportunity the CG has decided to introduce a scheme namely “Condonation of Delay Scheme 2018” [CODS-2018].”
Time Period: The Condonation of Delay Scheme 2018 shall be into from w.e.f. 01st January, 2018 and shall remain in force upto 31st March, 2018 (Companies have to comply with the scheme within this period of 3 months).
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