Possible Extension of Company Law Settlement Scheme (CLSS)

August 26, 2010

Dear Professional Colleague,

The MCA has vide General Circular No: 1/2010 and 2/2010 dated 26.05.2010 issued the Company Law Settlement Scheme (CLSS) and Easy Exit Scheme (EES) respectively. The scheme will be in operation till 31^st August, 2010.

We have been given to understand from some of our members that many companies are still willing to avail this scheme but have not been able to do so till date.

In view of the importance of the two schemes and its resulting impact on the companies and the Registrar, we have taken up the matter with the Ministry of Corporate Affairs requesting to extend the period of the two schemes by another 30 days.    

We hope that the MCA will consider our request positively.

With Best Regards

(N.K. JAIN)