India Company Law: New scheme pardons submission delays
The Indian Ministry of Corporate Affairs has introduced a scheme which allows defaulting
companies a chance to rectify non-compliances related to timely submission of documents
(specifically balance sheets and annual returns) with the Registrar of Companies
(ROC).
The scheme titled Company Law Settlement Scheme 2011, condones delay in filing of
documents with the ROC and grants immunity from prosecution.
The scheme entails charging an additional fee of 25% of actual additional fee payable
for filing such belated documents under the Companies Act 1956.
The Company Law Settlement Scheme 2011 is applicable only for filing the following
forms/returns:
- Annual Return
- Particulars of an Annual Return for a company not having share capital
- Annual Report
- Compliance Certificate
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Disclaimer :
Published: September 13, 2011. The information provided on this page is intended
merely to highlight issues for general information purposes only. It is not comprehensive
nor does it provide legal advice. Any information is subject to change without notice.
No liability whatsoever is accepted by Nair & Co.
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