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Urgent - EES Scheme 2011

Devendra (Chartered Accountant) (4775 Points)

03 April 2011

One of my friend is a Director in a Pvt. Ltd. Company. He wants to close the Co. What is the procedure? Will the Easy Exit Scheme be useful in closing the Company?

The Company was incorporated in March - April 2008.

Regards,
Devendra K

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4 Replies

CA Sandeep Kumar (Audit Assistant) (804 Points)
Replied 03 April 2011

Ministry had introduced a Scheme namely, "Easy Exit Scheme, 2011" under Section 560 of the Companies Act, 1956 to give an opportunity to the defunct companies, for getting their names struck off from the Register of Companies. The said scheme was in operation from 1st January, 2011 to 31st January, 2011.
Now, it has been decided to extend the Scheme for another three months i.e. upto 30th April, 2011. For details, refer to General Circulars No: 6/2010 dated 03.12.2010 and 1/2011 dated 03.02.2011.
After the closure of the Scheme, MCA would take penal action against the directors of the defaulting companies who have not taken steps for de-registration of the company.

(Source mca website)

Visit www.mca.org for circulars and other information.

Devendra (Chartered Accountant) (4775 Points)
Replied 03 April 2011

But does EES 2011 apply in my case?

Sharad Suman Das (art) (141 Points)
Replied 04 April 2011

EES is applicable in the case of the defunct companies i.e the companies which are not doing any business and has not filed balance sheet and annual return wiled the Regis trar of Companies for last three consequtive financial year.

for more details regarding the schemme visit MCA portal

and plese correct me if I am wrong

Yashijain (ACS) (22 Points)
Replied 13 April 2011

Devendra..

U may easily apply for EES Scheme as the scheme specifically described Defunct Co. as follows-

A Co. which is not carrying over any business activity or operation on or after 1/04/2008. The condition is that ur Co. should have an active ststus on MCA portal.

As asked, this Scheme is very useful & successful even, as in a short span of time & much less cost, u can have the name of ur Company struck off from the register.