Tuesday 16 August 2011

Re launch of Company Law Settlement Scheme 2011

Opportunity for defaulting companies to regularize their due statutory records with ROC with minimum fee

After observing a successful response to Company Law Settlement Scheme 2010 and on huge demand from corporate sector, the Ministry of Company Affairs has re launched the scheme as “Company Law Settlement Scheme 2011” to give another opportunity to defaulting companies who have not filed annual return and balance sheet with ROC, to make their default good with minimum additional fee.
MCA has come out with a defaulter’s list of companies and directors who have not filed their updated statutory records with ROC and have notified that such companies would be debarred from filing other forms with ROC and action will be taken against such defaulting companies and their directors / officers in co ordination with SEBI and RBI. This scheme offers significant benefits to such companies:
a.       Filing of belated Annual Returns, Balance Sheet, Profit & Loss Account  by paying additional fee of only 25% of actual additional fee payable of filing of belated documents and
b.      Granting immunity from prosecutions
c.       Regularise status of defaulting company and its directors for acceptance of other event based forms to be filed by such companies in future

The scheme shall remain in force only upto 31st October 2011
We, at DNS Advisors, offer full range of services pertaining to companies all regulatory compliances with MCA including:
  1. Filing of belated Annual Returns, Balance Sheet, Profit & Loss Account of operational companies under Company Law Settlement Scheme 2011
  1. Assisting in winding up of non operational companies under Fast track Exit Scheme 2011.

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