9911796707
TMI BlogStriking off names of defunct companies - Simplified Exit Scheme, 2005X X X X Extracts X X X X X X X X Extracts X X X X ..... nies under section 560 of the Companies Act, 1956 through the operation of the Scheme called Simplified Exit Scheme, 2005 (SES 2005) [The Scheme ]. In supercession of all earlier circulars and schemes, the Ministry issues the following directions for striking off names of defunct companies from the Register of Companies under section 560 of the Companies Act, 1956. Operation of the scheme 3. The SES 2005 will come into operation on 1-2-2005 and will continue till 31-7-2005. Who can apply? 4. ( i ) All defunct companies which are registered under the Companies Act, 1956 can apply under this Circular, except section 25 Companies, subject to fulfilment of conditions laid down hereinafter. ( ii ) More particularly, the following companies are eligible to apply under this Scheme: ( a ) Companies that did not carry out any business at any time; ( b ) Companies that carried out some business activity but discontinued the same thereafter; Provided that in the case of a Non Banking Financial Company (NBFC) as defined under section 45-I( f ) of RBI Act, 1934: ( a ) if such NBFC is not registered with the RBI, it will be allowed to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Affidavit and indemnity 6. ( i ) The application should be accompanied by an affidavit by the Applicants as mentioned in para 5(1) above sworn before a Magistrate/Executive Magistrate/Oath Commissioner/Notary, to the effect that the company has not carried on any business or the company did some business for a period upto a date (which should be specified) and then discontinued its operations, as the case may be, and has no assets or liabilities. The draft of the Affidavit is as per draft prescribed and enclosed at Annex B to this Circular. ( ii ) The application should further be accompanied by an Indemnity Bond, duly notarized as per draft prescribed and enclosed in Annex C to this Circular, to the effect that should there be any liabilities on the company, such liabilities will be met in full by the applicants, even after the name of the company is struck off the register of the companies. Such applicants will be liable jointly as well as severally. Accounts 7. ( a ) In case of companies which have not carried out any operations, business or commercial activity since their incorporation and have no financial information to furnish, a declaration by Appli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f filing of the application for simplified exit. After the scheme ends, the Ministry would take necessary penal action under the Companies Act, 1956 against such defunct companies which have not availed of this opportunity and have not complied with the provisions of the Companies Act, 1956 or are not filing documents with ROCs in a timely manner. 10. The applicant company under this scheme would be deemed to be struck off from Register of Companies from the date of issue of Order/Notification by the ROC. 11. An application shall be accompanied with a fee of Rs. 3000. ANNEXURE A APPLICATION FORM FOR STRIKING OFF NAME OF COMPANY UNDER SECTION 560 OF THE COMPANIES ACT, 1956 Affix Affix PP size Photo PP size Photo No. of Company Name of the Company: Address of the Company: To The Registrar of Companies, ................................................ (Name of the State) Sir, The Company after c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fice at ____________ and branches at ____________(indicate places of Branch Offices). We have been issued a No Objection Certificate by SEBI/RBI* to exit from the Register of Companies. ( b ) Ours is a CIMC /NBFC company not registered with SEBI/RBI. We declare that we had not commenced business or carried out any business or operations or commercial activity at any time. *Clauses 5 and 6 applicable only in case of an CIMC/NBFC * Strike out whichever is not applicable Yours faithfully, Names and addresses of Applicants 1. Signature 2. Signature Date : ANNEXURE B AFFIDAVIT ( to be given individually by applicant ) I. Director of ___________________________________ Private/Limited, (hereinafter called the Company ), incorporated on ___/___/_____ under the Companies Act, 1956 having its Registered Office at __________________and having PAN No : ______________ do solemnly affirm and state as under: 1. I _______________, S/o D/o Shri___________, holder of Passport No: ______/PAN _______ (copy of Passport/PAN duly attested by Gazetted Officer is enclosed) am Director of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oss(es) to any person or any valid claim arising from any person after the striking off of the name of the Company from the Register of Companies, ___________, I the applicant, undertake to indemnify any person for such losses and the indemnity bond to this effect is enclosed and submitted. I solemnly state that the contents of this affidavit are true to the best of my knowledge and belief and that it conceals nothing and that no part of it is false. Signature: (Deponent) Verification I verify that the contents of this affidavit are true to the best of my knowledge and belief. Place Signature: (Deponent) Date : ANNEXURE C INDEMNITY BOND ( to be given individually by Applicant ) I, the director of ___________________________________ Private/Limited, (hereinafter called the Company ), incorporated on ___/___/_____ under the Companies Act, 1956, having its Registered Office at _______________________ and having PAN Number____________________ _______do hereby declare that: ( a ) ( i ) I ___ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nies Annexure D Statement of Account [ Para 7( b ) of circular ] Name of the Company: Year to which the Statement of Account pertains: Part A Particulars : Figures at the end of I. Sources of Funds Current Financial Year Previous Financial Year (Brief break up in respect of each item needs to be given). (1) Capital (2) Reserves and Surplus (including balance in profit and loss account) (3) Loan Funds Total of (1) to (3) II. Application of Funds (Brief break up in respect of each item needs to be given). Current Financial Year Previous Financial Year (1) Fixed Assets (2) Investments (3) ( i ) Current Assets, loans and Advances Less : ( ii ) Current Liabilities and provisions Net Current Assets ( i -ii) (4) Miscellaneous expenditure to the extent not written off or adjusted (5) Profit and Loss Account ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
