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EES- 2011

SkDash (CS (Member) CWA (Final))   (909 Points)

07 April 2011  

Can anybody shoot a mail whether a newly incorporated co (incorporated in 2010) can get out under easy exit scheme 2011 ? As per the circular of MCA -it is specified that the co should not in business on/after 1.4.2008.


 14 Replies

CS Ankur Srivastava (Company Secretary & Compliance Officer)   (17821 Points)
Replied 07 April 2011

New companies are not covered under Easy Exit Scheme- 2011.

CS Ankur Srivastava (Company Secretary & Compliance Officer)   (17821 Points)
Replied 07 April 2011

Applicability of Easy Exit Scheme: -


(a) Any “defunct company” which has active status on Ministry of Corporate  Affairs portal may apply under EES, 2010 in accordance with the provisions of this Scheme for getting its name strike off from the Register of Companies;

 

(b) Any defunct company which is a Government Company shall submit ‘No Objection Certificate’ issued by the concerned Administrative Ministry or Department or State Government along with the application under this Scheme;

(c) The purpose of the Scheme is to allow eligible companies to avail of this opportunity to exit from the Register of Companies after fulfilling the requirements laid down herewith and the decision of the Registrar of Companies in respect of striking off the name of company shall be final.

 

“defunct company” means a company registered under the Companies Act, 1956 which is not carrying over any business activity or operation on or after the 1st April, 2008 and includes a company which has not raised its paid up capital as provided in sub sections (3) and (4) of section 3 of the Companies Act, 1956;

 

 

It means that the company must be not in operation on or after 1st April, 2008. Therefore, it is implied that the company must be in existence before 1st April, 2008.

 

Therefore, newly incorporated company does not comes under this Scheme.

 

SkDash (CS (Member) CWA (Final))   (909 Points)
Replied 07 April 2011

Ankur- Not agree with you.

Defunct co shall not be in business on OR after 1.4.2008. we have incorporated a co in 2010 and we are not carrying any business after 1.4.2008 (no business since incorporation). Also another thing-i just tried to fill EES form with some fake attachments and the prescrutiny was successful though the incpn date was showing as in 2010. if the scheme is like that-It coluld have rejected the form saying that 'date of incorporation is after 1.4.2008.

as per me- if the purpose of the scheme is analysed- they should allow the newly incorporated co also to come under this route.

CS Ankur Srivastava (Company Secretary & Compliance Officer)   (17821 Points)
Replied 07 April 2011

Dear Santosh Ji,


Please read the definition of defunt company again. If that is the case then what is the purpose of specifing the date??

They may simply write "the company which is not in operation". But the purpose is that the company must be registered before 1st april 2008.


Secondly, the law would give time to the new companies to start its activity, there may be some delay or any other reason why the newly incorporated company could not start its activity.
 Whatever may be the reason Winging up or exit is the last option and in any case if there is any hope it is not recommended.

 

“defunct company” means a company registered under the Companies Act, 1956 which is not carrying over any business activity or operation on or after the 1st April, 2008 and includes a company which has not raised its paid up capital as provided in sub sections (3) and (4) of section 3 of the Companies Act, 1956;

SkDash (CS (Member) CWA (Final))   (909 Points)
Replied 07 April 2011

if it was "Co must stop doing business before 1.4.2008"- situation would be very clear.

with ref to yr 2nd para- if co will go for voluntary exit-whethe they will disallow ?

Let me ask them directly and they can provide the right answer and i will update.

CS Ankur Srivastava (Company Secretary & Compliance Officer)   (17821 Points)
Replied 07 April 2011

Ofcourse,

NIKITA (CA ) (302 Points)
Replied 07 April 2011

I agree with Mr. Ankur. It is only applicable on Co. incorporated before 1.04.2008

I had also come across the same situation. In my case Co. was incorporated in Nov 2008 and EES is not applicable on it. So its confirm that Co. should be incorporated before 1.04.2008

CS Ankur Srivastava (Company Secretary & Compliance Officer)   (17821 Points)
Replied 08 April 2011

Thanks Nikita......

CA MOHIT CHOPRA (WORKING WITH IBM) (90 Points)
Replied 19 April 2011

hi... all...

Can dormant company since incorporation apply in easy exit scheme 2011??

in company master data company status (for efiling) shown "DORMANT" and also Paid up capital shown as rs. 0.00.

while uploading the EES 2011 form for such company the following error is shown:- 

 

""Form cannot be filed as request for correction of company master data is pending for approval.""

 

Plz help its urgent... 

thnx in advance...

sarita (abc) (27 Points)
Replied 23 April 2011

 

Thank you so much.

Have one query. If the dormant company want to file Form EES 2011, can it directly file without filing Form 61. 

Some of them are saying you can directly file EES. But wanted to confirm with the experts opinion.
Pls revert asap
 
Thanks
Sarita

palak (cs) (385 Points)
Replied 23 April 2011

Originally posted by : CS Ankur Srivastava

New companies are not covered under Easy Exit Scheme- 2011.

sarita (abc) (27 Points)
Replied 23 April 2011

Hello

 

This is a old co of 2002 and didnt carry out anya nn filings from 2008. 

 

"Have one query. If the dormant company want to file Form EES 2011, can it directly file without filing Form 61. 

Some of them are saying you can directly file EES. But wanted to confirm with the experts opinion.
Pls revert asap"

Thanks
Sarita
 

Praveen Kumar (Manager - Finance & Accounts)   (189 Points)
Replied 23 April 2011

  yoy can file EES 2011 form without filling form 61

NIKITA (CA ) (302 Points)
Replied 23 April 2011

I agree with Praveen. EES form can be filed directly, without the need of filing form 61.


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