Para 5 - How to apply - Simplified Exit Scheme, 2005

PROCEDURE AND DOCUMENTS REQUIRED How to apply 05. (i) A company desirous of getting its name struck off under this scheme can apply to the Registrar of Companies concerned in the form prescribed and enclosed in Annexure A . (ii) If a validly constituted Board of the Company is in existence, the application should be supported by a Board resolution to exit from the Register of Companies. (iii) The application should be signed by two directors of the company which will include Managing Director or Whole Time Director, if there is one. (iv) In case of companies where the number of directors is reduced below the quorum fixed by the Act for a meeting of the Board, the continuing directors or director may act for the purpose of increasing the number of directors to that fixed for the quorum in terms of regulation 75 of Table A of Schedule I to the Companies Act, 1956 or as per the relevant articles of association of the company. (v) The foreign nationals and Non-Resident Indians (NRIs) may also apply adhering to the procedure laid down in section 558 of the Companies Act, 1956.