Clarification regarding Simplified Exit Scheme, 2005

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..... 2/2005 on striking off names of defunct companies and recollect the discussions held on a list of clarifications during the RDs/ROCs conference held on 27th April 2005. The final list of clarifications on the Scheme is enclosed. 2. As discussed during the meeting on 27-4-2005, ROCs are advised to process the applications received under section 560 of the Companies Act, 1956 prior to the commence .....

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..... ral Circular No. 2 of 2005 addresses this. If documents are attested by Chartered Accountant and Company Secretary in whole time practice should also be acceptable. Whether notary should not be allowed to certify these documents. Paras 2 & 3 of Annexure B and para 1(a)(iii) & (iv) clearly indicate that either copies of residence proof should be attested by Gazetted Officer or alternatively an af .....

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..... bar on application being made and considered if the limits prescribed under section 3 are not complied with. What compliance would be required in case of a private company which has not amended its articles to indicate new clause about prohibition on invitation or acceptance of deposits from persons other than its Members, Directors or their relatives? There is no bar to such companies applying .....

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..... n time, rectification of documents may be done subsequently. The Scheme should provide for striking of section 25 companies after obtaining necessary NOC from Regional Director or connected authorities. The scheme specifcially excludes section 25 companies. Whether Scheme would be available to companies, which have already filed papers under section 560 for striking of names prior to announceme .....

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..... No asset and liabilities means when the company applies under SES there will be no asset in its possession and it will have no liabilities. According to the present section 3(5) companies which have defaulted under section 3(3) and 3(4) are deemed to be a defunct company and there should be struck off by ROC automatically under section 560. No doubt those companies, which have defaulted under se .....

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