Beneficial schemes for Corporates introduced by Ministry of Corporate Affairs:
The Ministry has introduced the following two Schemes with effect from 30-5-2010:
“Company Law Settlement Scheme, 2010” giving 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.
“Easy Exit Scheme, 2010” giving opportunity to the defunct companies to get their names struck off from the register under Section 560 of the Companies Act, 1956.
Availing the benefit of the Schemes will prevent companies from prosecution and other legal action.
For details kindly see the attached circulars.