Chartered Accountants and legal experts seek relief for procedural lapses under Registrar of Firms regulations
In a significant move aimed at supporting the ease of doing business in Maharashtra, a group of chartered accountants and legal professionals—operating under the BJP CA Cell—submitted a formal proposal on April 29, 2025, to the Hon’ble Deputy Chief Minister, Shri Devendra Fadnavis. The proposal advocates the introduction of a one-time Amnesty Scheme for partnership firms in the state.
Need for the Amnesty Scheme
The representation highlights a growing concern among professionals and business owners regarding unintentional non-compliance with mandatory filing requirements under the Maharashtra Registrar of Firms (ROF). Many registered partnership firms have failed to update crucial details such as:
- Change in partners (addition or retirement)
- Change in the firm’s registered address
- Dissolution of firms
Such omissions, while procedural in nature, have caused serious implications including outdated public records, misinformation, and complications in legal and commercial matters. These issues affect not just firms, but also financial institutions, regulators, and the general public relying on accurate ROF data.
Learning from Past Successes
The letter draws attention to the successful track record of similar amnesty schemes introduced by other government bodies such as the Income Tax Department and the erstwhile Company Law Board. These initiatives were widely welcomed by stakeholders and contributed to increased compliance, reduced litigation, and smoother regulatory processes.
Proposed Relief Measures
The proposed amnesty scheme for partnership firms would offer a time-bound opportunity to regularize pending filings with the Registrar of Firms by paying a nominal, one-time compensatory penalty, instead of the often burdensome daily penalty structure. This move is expected to:
- Encourage proactive compliance among firms
- Clear the backlog of outdated or inaccurate records
- Generate revenue for the state government
- Restore trust and efficiency in public registries
Addressing Practical Challenges at the ROF
The letter also sheds light on several operational issues that hinder compliance at the ROF level, including:
- Delays in document verification and approval
- Inefficient communication channels
- Limited options for partner attestation
- Disproportionately high penalties for minor delays
To resolve these, the signatories have suggested a series of reforms such as:
- Upgrading ROF office infrastructure
- Implementing digitized workflows and e-verification systems
- Introducing a reasonable cap on daily penalties
- Expanding helpdesk support for firm representatives
Call for Collaboration
In a positive and solution-oriented gesture, the signatories—comprising professionals from across the state—have expressed their willingness to assist the government in designing the framework and implementation roadmap for the proposed amnesty scheme. They have also requested a formal meeting with the Deputy Chief Minister to discuss the proposal in detail and collaborate on measures to ensure successful adoption.
Conclusion
If adopted, the amnesty scheme could prove to be a landmark step toward regulatory reform, benefitting thousands of partnership firms across Maharashtra. It aligns with the broader vision of the government to promote entrepreneurship, improve compliance, and enhance the ease of doing business in the state.