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Scheme for Helping Companies to get the Delay Condoned

Posted on 05 August 2010,    
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Scheme for Helping Companies to get the Delay Condoned

The Minister of Corporate Affairs has informed the Lok Sabha that the number of companies that have not filed their Annual Return consecutively during the last three years – 2006-07, 2007-08 and 2008-09, is 2,13,185. Of these the maximum number of 67,858 companies are from the Western Region; 66,345 companies are from the Southern Region; 63,802 companies from the Northern Region and 15,180 companies are from the Eastern Region. Giving this information in written reply to a question in the Lok Sabha today on the ‘Easy Exit Scheme- 2010’ and the ‘Company Law Settlement Scheme, 2010’, Shri Salman Khurshid, Minister of Corporate Affairs, said that under the ‘Easy Exit Scheme- 2010’ (EES) defunct companies can get their names struck off the Register of Companies under section 560 of the Companies Act, 1956, by filing an application in the form EES, 2010, with indemnity bond, affidavit verifying correctness of the application and defunctness of the company and up to date statement of accounts. The Minister further informed the House that under ‘Company Law Settlement Scheme- 2010’ on payment of 25% of the actual additional fees payable for filing belated documents delay gets condoned and immunity from prosecution is granted.


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