company closure

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prakriti

prakriti (Querist)

17 January 2011 PL GUIDE IF THE COMPANY INCORPORATED IN JULY 2010 MAY BE CLOSED IN EES 2011

Guest

Guest (Expert)

17 January 2011 What do you mean by EES

prakriti

prakriti (Querist)

18 January 2011 Respected Mr. K.C. Moondra thanking for replying me. EES means easy exit scheme 2011 and what are the basic difference between ees scheme 2010 an dees scheme 2011

Aashok Kumar Sharma

Aashok Kumar Sharma

(Expert)

19 July 2024 The Easy Exit Scheme (EES) and the Easy Exit Scheme 2011 (EES 2011) were introduced by the Ministry of Corporate Affairs (MCA) in India to facilitate the closure of defunct companies in a simplified manner. Here are the key points regarding these schemes:

### Easy Exit Scheme (EES) 2010:

1. **Purpose:** EES 2010 was introduced to provide an opportunity for defunct companies to voluntarily wind up and be struck off from the Register of Companies.

2. **Eligibility:** Companies that had not conducted any business operations or not filed their statutory returns for a specified period were eligible.

3. **Procedure:**
- Application to be made to the Registrar of Companies (RoC) for striking off the name of the company.
- Certain documents and declarations needed to be filed with the RoC.
- Clearance from various authorities (like Income Tax Department, Central Excise Department, etc.) was required.

4. **Timeframe:** The scheme was operational for a limited period, and the timeline for compliance was specific.

### Easy Exit Scheme 2011 (EES 2011):

1. **Enhanced Features:** EES 2011 was an improved version of EES 2010 with some enhancements to facilitate easier closure of defunct companies.

2. **Scope:** It widened the scope of companies eligible for striking off, making it more inclusive.

3. **Procedure:**
- Similar procedure as EES 2010 but with some simplifications and relaxed requirements.
- Application to RoC along with necessary documents and declarations.
- Streamlined clearance process from authorities.

4. **Timeline:** Operational for a defined period, after which the scheme was closed.

### Closure of a Company under EES 2011:

If your company was incorporated in July 2010 and you wish to close it under EES 2011 (assuming it meets the criteria), you would typically need to:

- Ensure the company meets the eligibility criteria under EES 2011 (like no business operations, compliance with statutory filings, etc.).
- Prepare and file the necessary application and documents with the RoC for striking off.
- Obtain clearances from relevant authorities as required.
- Comply with the procedural requirements stipulated under EES 2011.

### Difference Between EES 2010 and EES 2011:

The key differences between EES 2010 and EES 2011 generally revolve around:

- **Scope of Eligibility:** EES 2011 widened the eligibility criteria to include more types of defunct companies.
- **Procedural Simplifications:** EES 2011 aimed to simplify the closure process further compared to EES 2010.
- **Duration and Operational Details:** Each scheme had specific operational details and timelines, with EES 2011 building upon the learnings and feedback from EES 2010.

It's important to note that the availability and specific details of these schemes may vary over time, and it's advisable to consult with a qualified professional or legal advisor to understand the current applicability and process under any scheme for closing a company in India.

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