Company Law Settlement Scheme, 2010

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..... nts on time, companies are burdened with additional fee and facing the prosecutions also. 2. There are many companies, who have also not increased their paid up capital up to the threshold limit provided in sub-section (3) and sub-section (4) of Section 3 of the Companies Act, 1956. 3. In order to give an opportunity to the defaulting companies to enable them to make their default good by filing belated documents and to become a regular compliant in future, the Ministry, in exercise of the powers under Section 611(2) and 637B (b) of the Companies Act, 1956 has decided to introduce a Scheme namely, Company Law Settlement Scheme, 2010, condoning the delay in filing documents with the Registrar, granting immunity from prosecu .....

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..... ease their paid up capital up to the threshold limit under the scheme and thereafter would be allowed to file other belated documents; (iv) Manner of payment of fees and additional fee on filing belated document for seeking immunity under the Scheme - The defaulting company shall pay statutory filing fees as prescribed under the Companies Act and rules made there under along with an additional fee of 25 percent of the actual additional fee standardised under sub-section (2) of Section 611 of the Companies Act, 1956, payable on the date of filing of each belated document; (v) Withdrawal of appeal against prosecution launched for the offences- If the defaulting company has filed any appeal against any notice issued or complaint fi .....

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..... b) This Scheme shall not apply to companies against which action under sub-section (5) of section 560 of the Act has been initiated by the Registrar of Companies; (ix) After granting the immunity, the Registrar concerned shall withdraw the prosecution(s) pending if any before the concerned Court(s); 4. At the conclusion of the Scheme, the Registrar shall take necessary action under the Companies Act, 1956 against the companies who have not availed this Scheme and are in default in filing of documents in a timely manner. Yours faithfully, Sd/- (P.K. Malhotra) Joint Director Encl: As above - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxma .....

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