company law settlement scheme

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Querist : Anonymous

Querist : Anonymous (Querist)

02 August 2010 1. A private company was incorporated in 1996 with a paid up capital of Rs 20000 ( twenty thousand ). It has not increased the paid up capital to the threshhold limit of Rs.100000. It is understood that the company can make the default good by filing form 2 now. Now the query is whether the increase in paid up capital is to be backdated or Can it be filed with current date ( the company has filed form 20B for all the years but not filed form 23AC or 23ACA ) ?

2) Where can I find the application for grant of immunity ? ( which is required to be filed if any documents are filed under this scheme )

Thanks in advance

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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02 August 2010 Increase in paid up capital should be back dated. The company shall first file its documents to increase their paid up
capital up to the threshold limit and
thereafter would be allowed to file other belated documents under the scheme.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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02 August 2010 Form for immunity is available in https://www.mca.gov.in/Ministry/latestnews/CircularCLSS_27may2010.pdf
This form may be submitted after the closure of the CLSS,2010 scheme viz., 31/08/2010.

Querist : Anonymous

Querist : Anonymous (Querist)

11 August 2010 Dear sir,

If the increase in paidup capital is back dated, then what about the audited balance sheets of all the earliers that contain paid up capital of less than Rs.1 lac. ( these financials were filed with income tax authorites also )

You mean to say that the balance sheets are also required to be restated ?

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