FAQs on shifting of e-Forms from MCA Version-2.0 to Version-3.0

The Ministry of Corporate Affairs has issued General Circular No. 01/2023 and 02/2023 in respect of the release plan of 45 e-forms on MCA Version 3.0 and filing of GNL-2 and MGT-14 and non-availability of forms on MCA for 15 days w.e.f 07^th January 2023 to 22^nd January 2023.

MCA has clarified that the due date of the 45 e-forms which falls between 07^th January 2023 to 22^nd January 2023 shall be allowed additional 15 days for filing without any additional fees.

Frequently Asked Questions

FAQ-1:

Whether an extension of 15 days shall be applicable on PAS-3?

Answer: As MCA by an update on their website already allowed filing of PAS-3 on the V-2 portal till 19^th January 2023 and PAS-3 shall be available on V-3 w.e.f. 23^rd January 2023, therefore, the extension shall not be applicable to PAS-3 form.

FAQ-2:

If the due date of MGT-14 is 15^th January 2023, what shall be the due date after the extension?

Answer: As the MCA has given a 15 days extension, therefore, due date in the above situation shall be 15^th January + 15 days i.e. 30^th January 2023.

FAQ-3:

Whether any of these 45 forms are under resubmission on 07^th January, whether such forms can be resubmitted on the V-3 portal after 23^rd January?

Answer: As per the Update Notification MCA portal, out of these 45 forms, no forms should be pending resubmission. If any of your forms are under resubmission on 7^th January, then such forms shall be lapsed and required to be filed again on the V-3 portal after 23^rd January.

FAQ-4:

If the due date of any of the forms (out of 45 e-forms) falls between 7^th January to 22^nd January 2023, what shall be the due date after the extension?

Answer: As MCA has given 15 days extension without any additional fees, so, the new due date in the case of the above 45 e-forms shall be the actual date + 15 days.

FAQ-5:

If the due date of PAS-03 is 15^th January 2023, what shall be the due date after the extension?

Answer: AS MCA has not given any extension in respect of PAS-03, therefore, the due date in the above situation shall be 15^th January 2023.

FAQ-6:

If any name has been approved on or before 06^th January and 20 days are expiring between 07^th January 2023 to 22^nd January 2023, then whether there is any extension for the filing of Spice Part B?

Answer: As per the recent Tweet of MCA on 7^th January 2023, SPICe Part B is available on MCA V-2 mode itself. Therefore, no extension is given for the filing of Incorporation related forms.

FAQ-7:

Whether GNL-2 and MGT-14 for any purpose can be filed according to General Circular No. 2 during the MCA transition period from V-2 to V-3?

Answer: As per MCA Circular No. 2, GNL-2, and MGT-14 only for the purpose of filing prospectus relating documents are allowed to be filed during the transition period.

FAQ-8:

Whether MGT-14 for the purpose of opening of private placement offer can be filed according to this circular?

Answer: As per MCA Circular No. 2, MGT-14 only for the purposes of filing prospectus-related documents are allowed to be filed during the transition period. Therefore, MGT-14 for the private placement of shares cannot be filed during this transition period in accordance with this circular.

FAQ-9:

If any company wants to open an offer for the private placement of shares between 7^th January 2023 to 22^nd January 2023, whether they can do the same?

Answer: According to section 42 of the Companies Act, 2013, before the issuance of an Offer Letter for Private Placement of shares, a company needs to submit MGT-14 with the ROC. As MGT-14 is not allowed to be filed during the period of 7^th January 2023 to 22^nd January 2023, therefore no new private placement offer can be opened by the companies during the period 7^th January 2023 to 22^nd January 2023.

 FAQ-10:

How to file GNL-2 and MGT-14 in relation to the filing of prospectus-related documents according to this circular?

Answer: The company has to follow the below-mentioned process:

• The company will have to submit the physical form with ROC.
• Along with the physical form, the company shall be required to submit the copy of the form and attachment in a pen drive or any other electronic media with ROC.
• The form should be physically signed by the person who is authorized to file that form. No need to make any payment for physically filing with ROC.
• ROC will give an acknowledgment of filing of such physical form. Once the electronic forms shall be available on the portal, the company shall file the electronic form on V-3 along with the actual fees.

Source: The above content is based on the article published by CS Divesh Goyal.

Link: https://www.caclubindia.com/articles/faqs-on-shifting-of-forms-from-mca-v2-to-mca-v3-48203.asp