The ministry of company affairs (MCA) on Tuesday notified the process for bodily submission of compliance types. The event comes after a number of firms confronted impediments as a consequence of glitches within the new on-line submitting portal. In a common round, the ministry mentioned firms can submit a number of types, together with PAS-3, GNL-2 and MGT-14, in bodily mode. These three types pertain to capital-raising actions.

The Firms Act mandates that these types ought to be submitted earlier than the corporate can utilise the proceeds. Nevertheless, because the portal was dealing with technical glitches, a number of firms had been unable to file the types and, therefore, had been unable to utilise the funding proceeds.

This ministry’s transfer comes after it acquired representations from each firms {and professional} our bodies in search of decision of the problem.

The bodily types may be submitted solely throughout the interval February 22 to March 31, in response to the round.

The round mentioned that firms “might file such kind in bodily mode duly signed by the individuals involved as per necessities of the related types, together with a duplicate thereof in digital media, with involved registrar with out cost of charge and take acknowledgement”.

The ministry additionally clarified that no further charge shall be relevant for such submissions. It’s because the ministry has already prolonged the deadline for submission. This yr, the ministry transitioned to a brand new portal, V3, in January, from V2, and ever because the new portal was launched, market contributors have been dealing with challenges.