Corporate Update

1 year ago

The global pandemic, COVID 19 is spreading rapidly all around the world. Nepal is also at high risk and with new confirmed cases of infection; the Government of Nepal has already extended the lockdown. Government has introduced the following relief: 

  1. Documents to be submitted at the Office of Company Registrar, renewal of private firms and vehicles, route permit, pollution and driving licenses can be done by May 13 2020 (end of Baisakh) without fines.

Company Act 2007 levies fines based on company’s capital structure for late submission of documents. Likewise for private firms, exports and imports transactions could be cancelled through the order of NRB for non-renewal of firms on time. While businesses have been affected largely due to extended lockdown, and mobility strictly restricted, the government has definitely tried to relieve some stress related to timely submission of documents.

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