18 Days after the Due Dates, MCA Portal Still Remains in ‘Apology’ Mode
The MCA21 portal of the ministry of corporate affairs (MCA), on which company secretaries (CS) and chartered accountants (CAs) from across the country had to file compliance reports, has remained in 'error' mode since 30 December 2020, a day before the deadline to submit mandatory reports. As reported by Moneylife, the plea of lakhs of CSs, CAs, corporates and professionals requesting extension of the deadline till 31 March 2021 has not evoked any response from finance minister Nirmala Sitharaman or the Union government. 
As reported by Moneylife, fighting hard to keep up with the COVID-19 pandemic situation and deadlines for compliance in the face of the problematic e-filing portal of the MCA, associations of company secretaries, corporates, including the micro-, small- and medium-enterprises (MSMEs) and the limited liability partnerships (LLPs), and individual professionals such as CSs and lawyers, have urged the finance minister to extend the deadline by three months till 31 March 2021 and relieve them of the endless pains caused by MCA portal. Also, for the first time, several practising CSs came out openly on Twitter and made #Extend_CFSS a trending hashtag for quite some time to grab the attention of the finance ministry.
While businesses have been penalised with draconian penalties, the pleas from professionals as well as a storm on social media has been steadfastly ignored by the government. 
The MCA had introduced companies’ fresh settlement scheme (CFSS) and LLP settlement scheme vide general circular no.12/2020 and general circular no.13/2020 with an opportunity to complete and regularise the pending compliance for companies and LLPs without any additional fees and penalties, and also providing immunities from prosecution. These schemes were extended till 31 December 2020. But there is no further extension given by the MCA.
The ministry, however, in a circular issued on 15 January 2021, clarified that no extension is granted for filing compliance report. The ministry circular brings out a new modified scheme for companies, which are revived by NCLT from 1st December to 31 December 2020. This ended all predictions for the government granting extension for old CFSS and LLP settlement scheme.
Earlier, a memorandum submitted by company secretaries to the registrar of companies (RoC) pointed out, "Most professionals are struggling with the e-filing website of MCA due to the time taken for uploading, irrelevant errors, non-generation of service request number (SRN), and multiple payments. The finance ministry may please investigate the whole process of filing and the time wasted of professionals. Quality time is wasted behind unproductive work."
Coming back to the MCA e-filing portal, Moneylife have also been pointing out the issues being faced by professionals ever since the management of this portal changed hands some seven years ago. Company secretaries and chartered accountants whose professional services require a functioning MCA professional were desperately appealing for help in 2013 and continues to do so even in 2021. (Read: Why can’t Infosys get MCA, the e-filing system working?)
  • Like this story? Get our top stories by email.




    2 months ago

    #MCA @FinMinIndia #Budget2021 Kindly issue white paper on the amount of Late fees collected by ROC in the last ten years where used and how it helped the compliance. CAP Late Fees. #Extend_CFSS @icsi_cs @theicai @barcouncilindia छूटे लगान छूटे लगान छूटे लगान छूटे लगान छूटे लगान

    We are listening!

    Solve the equation and enter in the Captcha field.

    To continue

    Sign Up or Sign In


    To continue

    Sign Up or Sign In



    online financial advisory
    Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
    online financia advisory
    The Scam
    28 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
    Moneylife Online Magazine
    Fiercely independent and pro-consumer information on personal finance
    financial magazines online
    Stockletters in 4 Flavours
    Outstanding research that beats mutual funds year after year
    financial magazines in india
    MAS: Complete Online Financial Advisory
    (Includes Moneylife Online Magazine)