4. With reference to the Fresh Start Scheme, 2020 which of the statement(s) given below is/are correct?
- 1.The “Companies Fresh Start Scheme, 2020” was introduced by the Ministry of Corporate Affairs to provide relief to law abiding companies and Limited Liability Partnerships (LLPs) in the wake of COVID 19.
- 2.It also reduces the related financial burden on them, especially for those with long standing defaults, thereby giving them an opportunity to make a “fresh start”.
Select the correct answer using the code given below: