The government today extended the date of Company Law Settlement Scheme, a scheme which allows the defaulting companies to make their statutory filings without any prosecution, up to November 15.
The scheme began on August 15 this year and was earlier up till October 15.
“All Companies are informed that they may avail the benefit of the scheme by filing their overdue annual documents by the last date and thereby avoid disqualification of directors under the provisions of Sub-section 2 of Section 164 of the Companies Act, 2013,” Ministry of Corporate Affairs today said in a press note.
Following representations from various quarters, the MCA has extended the scheme by another month.
“… this Ministry has, on consideration of requests received from various stakeholders, decided to extend the
Company Law Settlement Scheme up to November 15, 2014,” according to a circular issued today.
In order to give an opportunity to the defaulting companies to enable them to make their default good by filing the belated documents, the Central Government in exercise of powers conferred under Section 403 and 460 of Companies Act, 2013 has decided to introduce a scheme namely “Company Law Settlement Scheme 2014” condoning the delay in filing the documents (statutory) with the Registrar, granting immunity for prosecution and charging a reduced additional fee of 25 per cent of the actual additional fees payable as per section 403 read with Companies Rules, 2014 for filing those belated documents under Companies Act, 1956/2013 and Rules made thereunder, MCA had said in a circular in August.
In addition, the scheme gives an opportunity to Inactive Companies to get their companies declared as ‘dormant company’ under Section 455 of the Act…, it added.
Govt extends Company Law Settlement Scheme till Nov 15
Published On - October 17, 2014
